On the afternoon of May 27, Tencent music announced that liuchiping decided to resign as a director of the company. Meanwhile, zhengrunming was appointed as a member of the board of directors Pengjiaxin, executive chairman of Tencent Music Entertainment Group, expressed his gratitude to liuchiping for his services to TME's board of directors over the years and his valuable contributions to the company. His rich experience and strategic thinking have shaped TME's growth path and played an important role in TME's transformation into China's leading online music and entertainment platform.
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The announcement said that after his resignation, liuchiping will continue to provide strategic suggestions to TME as the president of Tencent, and Tencent is still the major shareholder of TME.
On May 17, Tencent Music Entertainment Group (hereinafter referred to as TME) released the Q1 financial report of 2022.
According to the data, in the first quarter of 2022, TME's total revenue was RMB 6.64 billion, and its net profit was RMB 649million. The adjusted net profit was RMB 939million, up 7.6% month on month. Among them, the performance of the online music business segment is very bright, with 80.2 million online music paying users, making another milestone in the industry, driving its online music subscription revenue to grow by 17.8% year-on-year; The payment rate exceeded 13%.
Based on the analysis of data, the revenue of Tencent music online music service in the first quarter was 2.62 billion yuan, a year-on-year decrease of 4.8%. It is reported that Tencent music online music services include subscription services, single and digital albums, advertising, copyright sublicense, etc.