TME: Copyright Issues Had Limited Impact On Music Services; Expecting Better Growth of Music Subscribers In 3Q21 While Live Streaming Is Stalled
TME will report 3Q21 results on November 8th after the close of the markets followed by an 8pm EST conference call. As 3Q21 was a period of intensive policies, TME was negatively impacted. The impact is likely to wear out in 2H2022. Therefore, for 3Q21, we expect the company’s subscription business to continue to do relatively better while its live streaming business can be lagging.
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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