Tencent Music recently published its unaudited financial report for the second quarter of 2019, stating that their total operating revenue reached CNY5.9 billion, a year-on-year increase of 31%; and their net profit attributable to shareholders was CNY927 million, a year-on-year increase of 2.5%.

According to Tencent Music, the company's online music service operating revenue was CNY1.56 billion during the reporting period, a year-on-year increase of 20.2%; and its operating revenue from social entertainment service and other businesses was CNY4.34 billion, a year-on-year increase of 35.3%.

In the second quarter of 2019, Tencent Music's monthly active mobile users of online music service were 652 million, a year-on-year increase of 1.2%; its monthly average paid user revenue was CNY8.6, a year-on-year decrease of 1.1%; its monthly active mobile users of social entertainment service were 239 million, a year-on-year increase of 4.8%; and its monthly average paid user revenue was CNY130.2, a year-on-year increase of 16.5%.

In addition, Tencent Music's paid users of online music service reached 31 million in the second quarter of 2019, a year-on-year increase of 33%; and it represented a net increase of 2.6 million users, which was the largest increase rate since the first quarter of 2018. Its paid users of social entertainment service reached 11.1 million, a year-on-year increase of 16.8%.

By June 30, 2019, Tencent Music's total cash and cash equivalents were CNY19.9 billion, which was about USD2.9 billion.

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