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Tencent Music, whose profit increased by 36% year-on-year last year, is also worried, and the number of monthly users of its main business has decreased for several consecutive quarters.

The business map of Tencent Music has been adjusted.

On March 19th, Tencent Music released the unaudited financial performance report for the fourth quarter and the whole year as of December 31st, 2023.

In the fourth quarter of 2023, the total revenue of Tencent Music was RMB 6.89 billion, down 7.2% year-on-year; The net profit was 1.41 billion yuan, a year-on-year increase of 16.9%.

In 2023, the total revenue of Tencent Music was 27.75 billion yuan, down 2.1% year-on-year; The net profit was 5.22 billion yuan, a year-on-year increase of 36%.

After the financial report was released, before the US stock market closed on March 19th, the share price of Tencent Music rose by 0.48%, corresponding to a market value of $17.813 billion.

In terms of business, Tencent Music is still in the process of adjusting its business structure and continues to focus on online music services. In Q4 of 2023, Tencent Music’s online music service revenue reached 5.02 billion yuan, a year-on-year increase of 41.1%; The income from social entertainment services and other services dropped by 51.6% year-on-year to 1.87 billion yuan. Correspondingly, in Q4 of 2023, the operating cost of Tencent Music decreased by 14.6% year-on-year to 4.25 billion yuan due to the decrease in revenue sharing cost corresponding to the decrease in social entertainment service revenue.

In the whole year of 2023, thanks to the accelerated growth of online music subscription revenue and advertising service revenue, as well as the growth of sales revenue around artists, Tencent Music’s online music service revenue was 17.33 billion yuan, a year-on-year increase of 38.8%; As the company adjusted some live interactive functions and implemented stricter compliance procedures, the revenue from social entertainment services and other services was 10.43 billion yuan, down 34.2% year-on-year.

With the concentration of live broadcast traffic to the short video platform in the head, Tencent Music is also changing its strategy. Nowadays, online music service has become Tencent’s music business accounting for over 70%, and this proportion is increasing — — From 37.1% in Q1 in 2023 to 72.9% in Q4, and achieved good profits. Earlier, Tencent Music’s social entertainment service accounted for 70% of the company’s total revenue.

In this process, Tencent Music has tapped the paying potential of users, and both the number of paying users and the average monthly income of users of its online music service have increased. The former increased by 20.6% to 107 million in Q4, while the latter increased by 20.2% to 10.7 yuan.

In addition, Zhu Liang, CEO of Tencent Music, said at the performance meeting that Tencent Music pays more attention to the overall activity and liquidity of long audio content and the promotion of long audio content in the car market. In 2023, the long audio service achieved more than the expected results in the transformation of Tencent Music. Next, Tencent Music will continue to promote the distribution and commercial efficiency of long audio content on the entire music platform.

Cussion Pang, executive chairman of Tencent Music, said in the financial report, "2023 is a crucial year for the transformation of Tencent Music." "The strong performance of online music services not only eased the pressure on social entertainment services, but also promoted the steady increase of quarterly net profit."

However, Tencent Music, which has successfully transformed, is not without worries. On the one hand, the number of monthly active users of online music service, which has been regarded as the main business, has decreased for several consecutive quarters. In Q4 of 2023, the number of monthly active users of this service was 576 million, a year-on-year decrease of 4.2% and a quarter-on-quarter decrease of 3.03%. The number of monthly mobile users of social entertainment services also decreased by 28.8% year-on-year to 104 million.

On the other hand, although the net profit performance is good, but reducing costs and increasing efficiency has not changed its overall income decline. In 2023, the total revenue of Tencent Music decreased by 2.1% year-on-year.

Regarding the loss of Q4 users, Liang Zhu said that there are quarterly reasons, and the mobile terminal itself continues to be affected by short videos, and the traffic has the pressure of natural loss; In 2023, the promotion and marketing expenses of Tencent Music were also reduced, and the distribution channels were also reduced.

In addition, in 2023, the average monthly income of users of Tencent Music’s online music service increased, which also caused negative user feedback. The topic of "QQ music members’ price increase" was once on the hot search in Weibo. In addition, Tencent Music’s MOO Music, which focuses on young users and targets Netease Cloud Music, was shut down on December 31, 2023.

Netease Cloud Music, the main competitor of Tencent Music, released its financial report on March 1st. The latter also embarked on the road of reducing costs and increasing efficiency and adjusting its business structure, and also experienced a decline in income and an increase in profits — — In Q4 of 2023, the net income of Cloud Music was 1.986 billion yuan, down 16.4% year-on-year; Gross profit was 601 million yuan, up 42.32% year-on-year.

According to the financial report of Tencent Music, as of December 31, 2023, the total balance of cash, cash equivalents and time deposits of Tencent Music was 32.22 billion yuan. In addition, according to the $500 million share repurchase plan announced on March 21, 2023, as of December 31, 2023, Tencent Music has repurchased about 25.3 million shares of american depository receipts from the open market for $174.5 million in cash.

The first snow in Chengdu went online. Did it snow there？

"It’s snowing, it’s snowing, it’s big!" At 8 o’clock on the evening of January 21, Chengdu Meteorological Observatory announced that snow was falling in Sandaoyan, Longquanshan Urban Forest Park, Wenjiang Lujiatan and Huanglongxi in Pidu District of Chengdu.
One night passed, and yesterday morning, many citizens found that there was snow.
Location: Taiping Taoyuan Mountain, Tianfu New District, Sichuan
Snow is falling all over the sky. "At 8 o’clock last night, we saw it like a light snow. What a surprise!" Xiao Lu, the manager of Guiyuan & Guiyu Hidden B&B, said. One night passed, and it was really a white snow scene, which was gratifying.
Location: Yaowangtai, Taiping Town, Tianfu New District, Sichuan
The snow on the lookout platform soon accumulated a thin layer. When encountering the first snow, some netizens made a stroke on the snow and wrote down their wishes for 2024.
Location: Tiantai Mountain Scenic Area
"is like a spring gale, come up in the night, blowing open the petals of ten thousand pear trees" has a cold wind, and it has accumulated for a winter. Snow has spread all over Sandaowan, and the snow has poured down the stone. On the occasion of the twelfth lunar month, the first snow on the rooftop is online!
Location: Longquan Mountain Urban Forest Park
According to netizens’ photos, the snow in Longquan Mountain on the evening of 21st was really heavy! Overnight, in Wumiao Town and Gaoming Town, the eastern new district of Chengdu, located in the hinterland of Longquan Mountain, a thin layer of white snow has been laid on the top of the mountain, trees and grass slopes. In the Danjingtai Scenic Area in the East New District of Chengdu, the "Eye of the City" has been covered with snow, and tourists can’t wait to climb the Danjingtai to overlook the magnificent scenery of hundreds of miles of snow.
Mengdingshan scenic spot
Thousands of acres of tea gardens and thousand-year-old trees "grow old overnight"
On January 21, the first snow in 2024 began in Mengding Mountain Scenic Area of Sichuan. By January 22, Mengding Mountain Scenic Area was "white-headed overnight", and thousands of acres of tea gardens and thousand-year-old trees had been replaced with silver.
3-5cm thick snow is enough for tourists to experience snowball fights, snowmen and sledding in the south, and many tourists "grow old together" in the swirl of snowflakes.
Chengdu Business Daily-Red Star News reporter learned that during this period, Tiangai Temple in Mengding Mountain can also experience cooking tea around the stove and taking photos and punching cards in Hanfu. On weekends, Mengding Mountain Scenic Area also has a non-legacy exhibition of tea art and skills, as well as performances such as te amo and Hanfu dances. During the Spring Festival, Mengding Mountain Scenic Area will carry out the activity of "seeing the dragon and finding the dragon at the top of the mountain" and send new year wishes to tourists!
Mengding Mountain Scenic Area is located in Ya ‘an City, Sichuan Province. It is one of the first provincial-level scenic spots in Sichuan and a national AAAA-level scenic spot. Mengding Mountain is about 10 kilometers long and 4 kilometers wide. The top of the mountain is surrounded by five peaks, which are like lotus flowers, and the highest peak is Shangqing Peak, with an altitude of 1,456 meters. The scenic spot is composed of two main scenic spots, Mengshan Mountain and Baizhang Lake. There are many scenic spots, such as Tiangai Temple, Yongxing Temple, Baizhangguan Memorial Hall, Yinyang Stone Archway, Tea History Museum and so on. The total area of the scenic spot is 54 square kilometers and the core area is 15 square kilometers.
Mengding Mountain Scenic Area is the birthplace of world tea civilization and world tea culture. The altitude, soil and climate of Mengding Mountain are most suitable for the growth of tea. From the Zhongshan area at an altitude of about 80-1000 meters, from west to east, patches of tea gardens are piled green and green, and the green waves are surging, green and pleasant, which is spectacular. Mengding tea with a long history is called "fairy tea" and Mengding Mountain is known as "hometown of fairy tea".
The hills around Xichang are covered with snow.
"Seeing the scenery of the North overnight"
"The sun was shining the day before, and the temperature dropped by more than 10℃ overnight. It actually snowed in Xichang!" In the early morning of the 22nd, affected by cold air, Xichang City, Sichuan Province ushered in the first snow in 2024. This news even exploded the circle of friends of local people.
"The day before yesterday, the highest temperature was still more than 20℃, and it suddenly snowed today! Xichang also entered the winter overnight, and I have to wear a down jacket again! " On the morning of January 22, some citizens in Xichang City found that they were shivering when they went out, and the surrounding hills were already white. "Xichang is warmer in winter and it snows less."
"When we opened the window, everything we saw was white. Xichang overnight allowed us to see the snow country scenery in the north every year without leaving home." Ms. Li, a local citizen, said that since the early morning of the 22nd, small snowflakes began to float in some places in Xichang City, but the snowfall in the urban area was not large, and it snowed heavily in Lushan Mountain and high-altitude areas around the urban area.
The reporter learned that it also snowed in some areas near Qionghai. According to the villagers of Walnut Village, the sun was shining brightly yesterday (21st), and it was covered with snow this morning, and a layer of snow was formed in the flower beds and on the ground.
The snow in Yibin attracted the public to exclaim that the bamboo sea in southern Sichuan turned into a "cedar"
On January 22nd, it snowed in pingshan county, Xuzhou District, Xingwen County and Zhuhai Scenic Area in southern Sichuan, and even Qixing Mountain in the suburbs of Yibin was covered with snow, with snow on the roof, trees and vegetable fields, and heavy snow in some high-altitude areas such as Laojun Mountain in Pingshan, Grand Snow Mountain in Junlian and Xianfeng in Xingwen.
Because it rarely snows in Yibin, which is located in the south of Sichuan, this round of snowfall has also surprised many citizens. Many people have exposed live videos of "snowing" on social platform accounts and issued exclamations. According to the video provided by netizens, the places where it snows in Yibin include Xingwen King Mountain Scenic Area, Changning Shunan Bamboo Sea Scenic Area, Pingshan Laojun Mountain, Jinping, Ma Caoping, Qilian Snow Mountain, Xingwen Xianfeng Township, Qixing Mountain in Xuzhou District, and Foxian Mountain.
At 8: 25 a.m. on January 22, Yibin Meteorological Observatory issued a live report of heavy cooling rainfall, which showed that Yibin Meteorological Observatory issued a yellow warning of heavy cooling on January 19. As of 8: 00 a.m. on January 22, the daily average temperature in all districts and counties of the city had dropped by about 6℃, and the minimum temperature had dropped to 2℃.
The rainfall in Yibin is generally light rain, with moderate rain in some places and heavy rain in some places. When cold air affects it, there are 5 to 7 gusts of wind, and the great wind appears at 14.8 m/s (level 7) in Xuzhou District. (Peng Qingxia Chengdu Business Daily-Red Star Journalist Jiang Lin Jiang Long Luo Min Comprehensive Chengdu Release, Chengdu Meteorology, Sichuan Observation)
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