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Posted by
Two Blokes May 18 -
Filed in
Stock
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2 views
Upgrade Tencent Music to Buy from Sell, citing strong Q1 results, margin improvement, and robust subscription growth. Music subscription momentum is driven by rising ARPU, paying users, and premium tier adoption, offsetting weakness in social entertainment. Potential M&A, especially with Ximalaya, could enhance content, user stickiness, and ARPU, though likely via dilutive stock transactions.
