Professional
Added to YB: 2024-04-30
Pitch date: 2024-03-31
TME [bullish]
Tencent Music Entertainment Group
+65.24%
current return
Author Info
No bio for this author
Company Info
Tencent Music Entertainment Group operates online music entertainment platforms that provides music streaming, online karaoke, and live streaming services in the People’s Republic of China.
Market Cap
$212.6B
Pitch Price
$11.03
Price Target
N/A
Dividend
0.95%
EV/EBITDA
15.39
P/E
19.37
EV/Sales
6.21
Sector
Entertainment
Category
growth
Baron Emerging Markets Fund New Portfolio Holding: Tencent Music Entertainment Group
TME: China's top music streamer at 70% share. Pivoted from declining music livestreaming to pure-play streaming, improving earnings quality. Early stage with 18% paid penetration & $1.50 ARPPU vs global peers. Sees high-teens sub rev growth via users & ARPPU, doubling earnings in 4-5yrs. Margin expansion from scaling & self-produced content. China's fragmented music labels support long-term profits.
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