Tencent Music announced its third-quarter 2019 results on Monday
Tencent Music Entertainment logo is seen displayed on a smartphone.
The company -- which owns Chinese music services QQ Music, Kugou Music and Kuwo Music -- reported total revenue of ¥6.51 billion Chinese yuan during the quarter that ended Sept. 30, representing a 31% increase year-over-year. That number also represents a roughly 13% increase over Q2, when total revenues were ¥5.74 billion .
Tencent also recorded 12% growth in operating profit year-over-year, from ¥1.06 billion to ¥1.19 billion . That’s also a 9% increase over Q2 2019, when operating profit was ¥1.09 billion . Additionally, cost of revenues increased to ¥4.30 billion , which was up 42.9% from the same quarter last year. That rise was primarily due to an increase in content expenses and revenue sharing fees. Gross profit was ¥2.21 billion , a 12.
There was also a rebound in monthly average ad revenue per user from Q2, when ARPPU for Tencent's music services fell slightly year-over-year. In Q3, ARPPU for the company's music services rose 4.7% year-over-year to ¥8.9 and was also up 3.5% from last quarter’s ¥8.6. Additionally, ARPPU for Tencent’s social apps, which includes WeSing, increased from the same quarter last year, rising 7.4% to ¥127.3 .
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Billie Eilish Announces That New Music is On the WayNo, Billie Eilish didn't break her caps lock button with her latest tweet -- she's just got some huge sounds hitting in the middle of the week.
Consulte Mais informação »
Classical music in L.A. this week: LA Opera's 'Magic Flute' and moreClassical music performances in L.A. for Nov. 10-17 include the return of Mozart's 'The Magic Flute' at LA Opera
Consulte Mais informação »
How These Cofounders Are Closing The Gap Between Creativity And Business In MusicRachel Lynn Karry, cofounder and president of World Artists United (WAU), along with her partner, Jalen James Acosta, cofounder and CEO, are on a mission to close the gap between the artistic side of the music industry and the independent business side.
Consulte Mais informação »
Kelsea Ballerini Drops Music Video for New Song ''Club''—Watch!Singer Kelsea Ballerini is set to perform Club at the 2019 People's Choice Awards. Watch her music video to get prepared!
Consulte Mais informação »
New Music To Know This Week: Tennis Keep It Elegant, Lou Roy Explores Her Sexuality & MoreTennis keep it elegant. Σtella fights the mosnter. Marlaena Moore is no imposter. Lou Roy has the saddest song. Japan, Man is like no other.
Consulte Mais informação »
Cynthia Erivo Releases Music Video for 'Harriet' Song 'Stand Up'The Grammy-, Emmy- and Tony-winning performer, who plays Harriet Tubman in the biopic, sings and co-wrote the emotional track.
Consulte Mais informação »