(Reuters) -Tence Music Entertainment Group increased by 8.2% in the fourth quarter, while the largest Chinese musical streaming company recorded its second consecutive growth quarter after a one -year slowdown.
The company recorded income of 7.46 billion yuan ($ 1.03 billion) for the closed quarter, exceeding the estimates of analysts of 7.30 billion yuan, according to LSEG data.
The actions listed in the United States of the company increased 3% in prematurely trading.
Tencent Music Super VIP (SVIP) membership, which combines long audio content, online karaoke services and high quality sound, has gained significant land among users.
However, the social entertainment unit continues to weigh on overall growth due to the abolition of certain live dissemination characteristics to comply with the anti-Acquiètes regulations of Beijing.
For the fourth quarter, income from the social entertainment service company, which includes the application of Karaoke Wesing and the live concert platform, Kuwo Music, were 1.63 billion yuan, against 1.87 billion yuan a year ago.
The social entertainment segment has shown signs of recovery, revenues increasing by 6% compared to the previous quarter despite the decrease in annual shift.
Sequential growth suggests that the impact of regulatory measures has largely played, said Charlie Chai, an analyst at 86research.
The chief executive officer, Ross Liang, told analysts on a post-benefit call that the social entertainment company remained in a state of “stabilization with a certain downward pressure” for this year in the challenges of the current industry.
($ 1 = 7,2228 Chinese Yuan Renminbi)
(Report by Kritika Lamba to Bengaluru and Yelin Mo in Beijing; edition by Sonia Cheema, Alexandra Hudson)