Tencent Music Entertainment (TME) Cost of Revenue (2016 - 2026)

Tencent Music Entertainment has disclosed Cost of Revenue across 11 years of filings, most recently posting $630.0 million for Q1 2026.

• Cost of Revenue for Q1 2026 came in at $630.0 million, up 11.11% year-over-year; the trailing twelve-month figure through Mar 2026 was $2.6 billion (up 16.02% YoY), and the FY2025 annual result was $2.6 billion, up 17.02% from the prior year.
• Cost of Revenue came in at $630.0 million for Q1 2026 at Tencent Music Entertainment, down from $683.0 million in the prior quarter.
• In the past five years, Cost of Revenue ranged from a high of $755.0 million in Q1 2022 to a low of $554.0 million in Q1 2024.
• The 5-year median for Cost of Revenue is $655.0 million (2025), against an average of $640.5 million.
• Across the five-year window, Cost of Revenue retreated 18.89% in 2024 and advanced 19.69% in 2025, its largest moves.
• Tencent Music Entertainment's Cost of Revenue stood at $722.0 million in 2022, then declined by 17.04% to $599.0 million in 2023, then declined by 3.84% to $576.0 million in 2024, then advanced by 18.58% to $683.0 million in 2025, then dropped by 7.76% to $630.0 million in 2026.
• The last three Cost of Revenue figures came in at $630.0 million (Q1 2026), $683.0 million (Q4 2025), and $672.0 million (Q3 2025), per Business Quant data.