Company: TME
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0000950170-25-056949
Chunk: 142

Company: Tencent Music Entertainment Group
Filing Date: 2025-04-23
Form: 20-F
Item: Item 4
Chunk 142
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 (i) online music services and (ii) social entertainment services and others.
Online Music Services
Our revenues generated from online music services were RMB12,483 million, RMB17,325 million and RMB21,742 million (US$2,979 million), accounting for 44.0%, 62.4% and 76.6% of our revenues in 2022, 2023 and 2024, respectively.
Music Subscription
We offer users subscription packages across music platforms, including QQ Music, Kugou Music and Kuwo Music, to access our content. Subscription packages are available at different prices to provide users with different combinations of features and privileges. For example, users subscribing for our basic subscription package are offered a fixed number of downloads per month of our music content offerings and access to certain pay-for-streaming content, and users subscribing for our premium memberships have access to add-on features and privileges including additional personalized app themes and avatar designs, more sound effects that enhance listening experiences, and faster streaming and download speed. We also offer users subscription packages with different privileges. For example, SVIP packages offer various features, such as access to certain audio content, AI-powered large model sound effects, higher sound quality including QQ MUSIC AUDIO or Kugou Viper 3D, as well as the Vocal Switch feature that allows users to easily switch between vocal-only playback and pure instrumental accompaniment and dedicated artist-fan interaction events. We expect to introduce additional benefits and more music subscription packages in the future, providing users with more exclusive privileges and features, which will help to improve user engagement, increase conversion to paying users, and enhance user retention on our platform.
Advertising Services
We offer various advertising services to advertisers across our platforms, and continuously optimize our advertising service portfolio. Our advertising offerings mainly include full-screen display ads that automatically appear when a user opens our mobile apps, industry standard banner ads of various sizes and placements on the interfaces of our platform. Additionally, we offer an ad-supported model that enables users to watch advertisements in exchange for various benefits. This includes accessing select music content that for free, which would typically require payment, as well as receiving rewards by engaging with advertisements. In addition, we provide sponsorship advertisement for various types of brand advertisers, to provide them with a broad and diverse target audience.
Other music services
We offer users subscription packages to access our audio content. Paying users on our platform are granted unlimited access to certain popular and carefully curated audio content during the subscription period. We also offer