September industry data showed broadly stable paying ratios and rising premium-tier penetration at Tencent Music and Cloud Music. Meanwhile, our recent checks on ByteDance's Soda Music found fewer AI covers and more tracks available only to paying users.
Compared with Spotify, Tencent Music has significant potential for subscriber growth, driven by its strategy of moving more music content behind a paywall.
Tencent Music relies heavily on record labels, with no proprietary differentiation in its content.
|
Metric
|
TME
|
SPOT
|
09899
|
|---|---|---|---|
Price/Earnings (Normalized) | 9.92 | 35.90 | 9.60 |
Price/Book Value | 1.19 | 11.52 | 1.24 |
Price/Sales | 2.74 | 5.32 | 2.09 |
Price/Cash Flow | 8.24 | 31.93 | 10.67 |
|
Metric
|
TME
|
SPOT
|
09899
|
|---|---|---|---|
Quick Ratio | 1.59 | 2.10 | 4.14 |
Current Ratio | 1.74 | 2.13 | 4.30 |
Interest Coverage | 75.59 | 118.22 | 12,046.57 |
|
Metric
|
TME
|
SPOT
|
09899
|
|---|---|---|---|
Return on Assets (Normalized) | 9.32% | 20.30% | 11.06% |
Return on Equity (Normalized) | 12.30% | 34.88% | 14.38% |
Return on Invested Capital (Normalized) | 10.28% | 28.66% | 11.28% |
|
1-Day Chart
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Name
|
Price
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
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GOOG
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| Meta Platforms Inc Class A
META
| LOCK|VlJ<z%V | LOCK|!NL | $2T | |||
| Tencent Holdings Ltd ADR
TCEHY
| LOCK|?JD!Ff%d | LOCK|Nj | $442B | |||
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SPOT
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BIDU
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PINS
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United States