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, 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, ECPM.
• Net profit attributable to equity holders reached RMB 2.5 billion; 43,500,000 ADS repurchased for USD 400 million during the quarter.

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