Tencent Music Entertainment Group (TME) Revenue History
Annual and quarterly revenue from 2016 to 2024
Compound Annual Growth Rate (CAGR)
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TME Revenue Growth
Revenue Breakdown (FY 2024)
TME's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
TME Revenue Analysis (2016–2024)
As of May 7, 2026, Tencent Music Entertainment Group (TME) generated trailing twelve-month (TTM) revenue of $31.72 billion, reflecting exceptional growth of +20.6% year-over-year. The most recent quarter (Q3 2025) recorded $8.46 billion in revenue, up 0.2% sequentially.
Looking at the longer-term picture, TME's 5-year compound annual growth rate (CAGR) stands at +2.2%, indicating moderate growth over time. The company achieved its highest annual revenue of $31.24 billion in 2021.
Revenue diversification analysis shows TME's business is primarily driven by Online Music Services (98%), Online Music Services To Associates (2%), and Social Entertainment Services And Others To Associates (0%). With over half of revenue concentrated in Online Music Services, the company maintains significant focus in this area while developing other growth vectors.
When compared to Communication Services sector peers including SPOT (+8.5% YoY), IDCC (+1.6% YoY), and AAPL (+12.8% YoY), TME has outperformed the peer group in terms of revenue growth. Compare TME vs SPOT →
TME Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| TMECurrent | $31.7B | +20.6% | +2.2% | 30.7% | |
 SPOT | $17.2B | +8.5% | +16.9% | 12.8% | |
 IDCC | $834M | +1.6% | +18.4% | 55.3% | |
 AAPL | $416.2B | +12.8% | +8.7% | 32.0% | |
 AMZN | $716.9B | +14.2% | +13.2% | 11.2% | |
 GOOGL | $403.0B | +17.5% | +17.2% | 32.1% |
TME Historical Revenue Data (2016–2024)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $28.40B | +2.3% | $12.03B | 42.3% | $8.71B | 30.7% |
| 2023 | $27.75B | -2.1% | $9.79B | 35.3% | $6.06B | 21.8% |
| 2022 | $28.34B | -9.3% | $8.77B | 31.0% | $4.44B | 15.7% |
| 2021 | $31.24B | +7.2% | $9.40B | 30.1% | $3.80B | 12.2% |
| 2020 | $29.15B | +14.6% | $9.30B | 31.9% | $4.71B | 16.2% |
| 2019 | $25.43B | +34.0% | $8.67B | 34.1% | $4.62B | 18.2% |
| 2018 | $18.98B | +72.9% | $7.28B | 38.3% | $2.04B | 10.7% |
| 2017 | $10.98B | +151.8% | $3.81B | 34.7% | $1.59B | 14.5% |
| 2016 | $4.36B | - | $1.23B | 28.3% | $103.0M | 2.4% |
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Start ComparisonTME — Frequently Asked Questions
Quick answers to the most common questions about buying TME stock.
Is TME's revenue growth accelerating or slowing?
TME revenue is accelerating at +20.6% year-over-year, exceeding the 5-year CAGR of +2.2%. TTM revenue reached $31.7B. Growth momentum has increased versus prior periods.
What is TME's long-term revenue growth rate?
Tencent Music Entertainment Group's 5-year revenue CAGR of +2.2% reflects the sustained expansion pattern. Current YoY growth of +20.6% is above this long-term average.
How is TME's revenue distributed by segment?
TME reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2016-2024 are available for download. Segment mix reveals concentration and diversification trends.