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Tencent Music revenue rises 3% as content push brings in listeners -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: In this illustration, the logo of China’s Tencent Music Entertainment Group appears next to an earphone. This picture was taken March 22, 2021. REUTERS/Florence L/Illustration/File photo GLOBAL BRANCH WEEK Ahead

(Reuters). – China’s Tencent Music Entertainment Group (NYSE) announced a 33% jump in its quarterly revenue Monday. This was due to the company’s efforts to increase content and attract more paid users to its Spotify-like streaming music platform.

The third quarter saw the total revenue for Tencent Holdings Ltd (OTC) Ltd rise to 7.805 Billion Yuan ($1.22 Billion). According to data from Refinitiv, analysts had predicted revenue of 7.85 trillion yuan.

($1 = 6.3980 renminbi)

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