Tencent Music Entertainment Group (NYSE:TME) Q4 2023 Earnings Call Transcript

Along with our very strong operational capacity and a very robust execution, we will be able to accumulate many paying users based upon the enabling turnover environment and the faster conversion rate. So in the year of 2023, actually, the net aided value for our subscription user reached 182 million and which lay a very solid foundation for us to further expand the user base in the near future. Regarding the year of 2024, we’re going to finance the NetEase and other and we have every confidence we will be able to maintain the online music business and the subscription revenue at a very healthy level. Regarding the year of 2024, right after we enter into the year of 2024, benefited from our product innovation and use of privilege expansion along with our very robust execution strategy, and we offer the high quality experience to their users.

Along with our operational and promoting events during the Chinese Spring Festival, we say the performance is better than what we expected. It also lay a very solid foundation for the healthy development of our business in 2024.

Kar Shun Pang: Well, in the near future, we’re also going to keep an eye on the operation and the development of the super users, or should I call the high operating users. Those users are the key. We’re going to also further expand their experience in other channels, including in car experience and the Kiwi users. We do hope by operating them and well manage them, it can also help us to overly improve the RF for the music business. But more importantly, I should also say that what we’re going to prioritize is to make sure we have a steady and robust growth for subscription revenue.

Operator: Thank you. We are approaching the end of the conference call. I’ll now turn over to Kar Shun for closing remarks.

Kar Shun Pang : Okay. Thank you everyone for joining us today. If you have any further questions, please feel free to contact TME’s Investor Relations team. This concludes today’s call, and the company looks forward to speaking with you again next quarter. Thank you so much, and goodbye.