Tencent Music Entertainment Group (TME) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good evening and good morning and welcome to Tencent Music Entertainment Group's third quarter 2025 earnings conference call. I'm Nielsen 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. Kushan Pang, our executive chairman, and Mr. Ross Liao, 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 this call as we made following statements. Please note that we're discussing non-IFRS measures today, which are more thoroughly explained and reconciled to the most comparable measures reported under IFRS and the earnings release and filings with 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 call is being recorded. With that, I'm very pleased to turn the call over to Kashen, Executive Chairman of TME. Kashen, please. Thank you, Madison. Hello, everyone, and thank you for joining our call today. In the third quarter, we delivered another set of strong financial results. underpinned by the well-rounded performance of our online music business. Our ongoing innovations across content, services, and live experience continue to feel steady growth in our subscription business, while pushing momentum in non-subscription revenue, particularly in concerts and artist merchandise. Backed by our strong financial position and operational excellence, we are posted to further broaden ...