Tencent Music publishes transcript of Q2 2026 earnings conference call

Tencent Music held its 2Q26 earnings call with Executive Chairman Cussion Pang, CEO Ross Liang, CFO Shirley Hu, and IR head Millicent Tu.

• Revenue rose 6% to RMB 8.9 billion; Ximalaya consolidation added about RMB 400 million.
• Music-related services revenue climbed 11%; membership services increased 8% to RMB 4.8 billion, helped by SVIP expansion.
• Advertising faced headwinds, notably in ad-supported mode; management flagged actions to lift exposure, entrance rates, and ECPM.
• Net profit attributable to equity holders reached RMB 2.5 billion; 43,500,000 ADS were repurchased for USD 400 million during the quarter.