Company: TME
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0000950170-25-056949
Chunk: 214

Company: Tencent Music Entertainment Group
Filing Date: 2025-04-23
Form: 20-F
Item: Item 5
Chunk 214
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620                  589                  570    
Social entertainment services - Mobile MAUs         157                  126                   91    
Paying users(1) (in millions)                                                                        
Online music services                              84.2                100.9                117.6    
Social entertainment services                       7.8                  7.6                  7.9    
Paying ratio(1)                                                                                      
Online music services                              13.6      %          17.1      %          20.6   %
Social entertainment services                       5.0      %           6.0      %           8.7   %
Monthly ARPPU(1) (RMB)                                                                               
Online music services(2)                            8.6                 10.0                 10.8    
Social entertainment services(3)                  169.4                114.3                 70.2    
Notes:
(1)For definitions, see “Introduction.” Starting from the first quarter of 2023, online music MAUs began to include unique mobile and certain IoT devices. Accordingly, comparative figures for prior periods were updated to conform to the current presentation.
(2)The revenues used to calculate the monthly ARPPU of online music services include revenues from subscriptions only. The revenues from subscriptions for the periods indicated were RMB8,699 million, RMB12,096 million and RMB15,227 million (US$2,086 million), respectively. 
(3)The revenues used to calculate the monthly ARPPU of social entertainment services include revenues from social entertainment and others, including advertising services provided on our social entertainment platforms.
Historically, users in China were less inclined to pay for online music services as compared with more developed markets. As a result, we initially focused on providing attractive music content and features for our online music services, with a view towards gradually cultivating users’ habits and willingness to pay in the long term. With our sustained efforts, we have observed a shift in how users perceive music consumption. Users are now more open and willing to pay for copyrighted music and its associated services. Consequently, despite the decreases in our already-massive base of mobile MAUs from 2022 to 2024 primarily due to natural churn of users, we have achieved continued strong growths in both number of paying users and ARPPU from 2022 to 2024 for our online music services. In the fourth quarter of 2024, the number of paying users for our online