TME: Mature User Coverage In Online Music Areas With Potentials In Monetization
TME will report 4Q18 results on March 19th after the markets close followed by an 8pm EST conference call. TME is an interesting company. It is a collection of leading online music and Karaoke APPs as well as communities. With more than 650M MAUs for its online music services and 230M MAUs for social entertainment, TME covers a majority of the music users in China. Therefore, we do not expect the company’s potential growth to be driven by user growth; however, its business is still at its early stage of monetization.
T.H. Capital is an independent research and investment advisory firm specializing in China. We offers real-time, on-the-ground, bottom-up research across a wide spectrum from macro and industry analysis to company specific projects; from China ADRs to international names that have meaningful exposure to China market. We deliver relevant, comprehensive and data driven research adding immense value to clients.
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