Tencent Music Reports $1.32 Billion Q2 Revenue Following Ximalaya Acquisition

Tencent Music Entertainment Group reported second-quarter 2026 total revenues of $1.32 billion, a 5.8% increase year-over-year. The growth was led by music-related services, which rose 11% to $1.12 billion, and the first consolidated financial contribution from the Ximalaya audio platform, which added $60 million in revenue after its acquisition on May 18.

Financial performance included a 5.2% increase in non-IFRS adjusted EBITDA to $480 million and a 4.4% rise in non-IFRS net profit to $396 million. The company also repurchased 43.5 million American Depositary Shares for approximately $400 million during the period. In contrast to the growth in music services, social entertainment services declined 16.4% to $196 million.

To expand its ecosystem, the company deepened integration with Weixin and established new partnerships with Dream Music Group and Huace Film & TV to enhance live events and IP-driven content. Executive Chair Cussion Pang attributed the solid growth in marketing and consumption services to concerts, merchandise, and other IP-driven experiences.