Tencent Music Entertainment Reported Q1 MAU of 578 for Online Music, Down by 2.4% YoY, Mobile MAU of 97M for Social Entertainment, Down by 28.7% YoY
Portfolio Pulse from Benzinga Newsdesk
Tencent Music Entertainment (TME) reported a Q1 decrease in Monthly Active Users (MAU) for its Online Music and Social Entertainment services. Online Music MAUs fell by 2.4% year-over-year to 578 million, while Mobile MAUs for Social Entertainment plummeted by 28.7% to 97 million.
May 13, 2024 | 9:08 am
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Tencent Music Entertainment's Q1 report indicates a significant decline in user engagement, with a 2.4% drop in Online Music MAUs and a 28.7% decrease in Social Entertainment Mobile MAUs.
The reported decline in MAUs for both Online Music and Social Entertainment services could signal a weakening user base and potentially lower future revenues, which may negatively impact investor sentiment and TME's stock price in the short term.
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