Music didn’t get much of a mention in Chinese tech firm Tencent’s latest quarterly financial results, which saw the company’s revenues grow by 30% year-on-year to $11.1bn, with a net profit of $2.8bn.
Tencent did say that its digital content revenues “grew substantially year-on-year and at a high single digit percentage rate quarter-on-quarter” thanks in part to the growth of its music subscription services, but those figures weren’t broken down any further.
Tencent provided an update on its social platforms: QQ now has 803.2 million monthly active users, down 5.5% year-on-year, while its Weixin / WeChat messaging platform grew by 9.9% to 1.06bn monthly active users.
Online games are the biggest chunk of Tencent’s revenues though, accounting for 34% of the company’s income ahead of its social networks’ 23% and online advertising’s 19%.
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