Tencent Music Entertainment Group (TME) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good evening, good morning, and welcome to Tencent News Entertainment Group's first quarter 2026 earnings conference call. I'm Milson Tu, head of IR. We announced our quarterly financial results earlier today before the U.S. market opened. The earnings release is now available on our IR website and via newswire services. During today's call, you'll hear from Mr. Kashan Pang, our Executive Chairman, and Mr. Ross Leung, our CEO, who will share an overview of our company's strategies and business updates. Then Ms. Shirley Hu, our CFO, will discuss our financial results before we open the call for questions. Before we continue, I refer you to the safe harbor statement in our earnings release, which applies to today's call as we made forelooking statements. Please note that we'll discuss non-IFRS measures today, which are more thoroughly explained and reconciled to the most comparable measures reported under IFRS in our earnest release and filings for the SEC. All participants are muted at this time. After management's remarks, there will be a Q&A session, and please be advised that today's course be recorded. With that, I will now turn the call over to Kexin, Executive Chairman of TME. Kexin, please. Thank you, Madison. Hello, everyone, and thank you for joining our call today. Despite an increasingly competitive landscape in the music streaming industry, we delivered a steady performance overall this quarter. Our growth is increasingly driven by diversified monetization across the music value chain. With the offline concert-related business achieving another quarter of triple-digit year-over-year growth, we will continue to accelerate the development of our multi-dimensional commercialization model, which is deeply rooted in our commitment to cultivating arrivals and le...