Tencent Music Entertainment Group ADR
TME: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$47.60 | Sdkyjmp | Cjhxbxh |
Tencent Music's Long-Term Growth Is Underpinned by Continuing Increase in Subscribers
Business Strategy and Outlook
With around 600 million monthly active users Tencent Music Entertainment is the largest music streaming platform in China. The firm monetizes through live streaming, a high margin business generating over 50% of revenue and over 100% of operating profit, while subscription-based music streaming remains loss-making.