TME: Adding More Paying Users To QQ Music; More Live Concerts To Offset The Weaker Season For Live Streaming; Expect At Least In Line 3Q20

  • Date: Nov 06, 2020
  • Tags:TME
  • Partial Report:Name: TME 3Q20 Preview 11062020.pdf - Size: 0.42M - Free Download
  • TME: Adding More Paying Users To QQ Music; More Live Concerts To Offset The Weaker Season For Live Streaming; Expect At Least In Line 3Q20

TME will report 3Q20 results on November 10th after the close of the markets followed by an 8pm EST conference call. Based on our data, we estimate that total revenue is likely to be at least in line with consensus at RMB7,496M. In 3Q20, the music subscription business was still in high growth driven by higher paying members and flat ARPU; social entertainment showed recovery in ARPU with stable users.

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