Tencent Music Entertainment Group, China's dominant streaming platform, reported total revenues of RMB8.93 billion ($1.32 billion) for the second quarter of 2026, a 5.8% year-over-year increase. Growth was driven by strong performance in music services and the first quarter of contributions from Ximalaya, the long-form audio platform TME acquired in a deal that closed on 18 May 2026, marking the company's expansion beyond music into broader audio entertainment.

Music-related services revenue rose 11% year-over-year to $1.12 billion, with membership subscriptions accounting for $706 million, up 8.1%. Ximalaya added $60 million in its first quarter of full consolidation. On a non-IFRS basis, adjusted EBITDA reached $480 million (up 5.2%) and net profit attributable to equity holders rose 4.4% to $396 million, while the company held $6.52 billion in cash and investments and repurchased $400 million worth of shares. TME also unveiled product updates including swipe-based content discovery, expanded freemium access, and deeper integration with Tencent's Weixin ecosystem, alongside new content partnerships with Dream Music Group, Huace Film & TV and others.