TME: Expect TME’s 3Q19 Revenue To Beat Consensus Driven By Better Growth In Music Subscriptions and Subscription Ratio
TME will report 3Q19 results on November 11th after the markets close followed by an 8pm EST conference call. We are positive on TME’s 3Q19 performance. This is the first time since its IPO that we believe the company is likely to outperform instead of missing consensus expectation. The better result is likely to be driven by: 1) more paid songs under the Online Music Services line as more popular songs are VIP songs; and 2) the exclusive release of Jay Chou’s song was a positive to its paying member growth as well as paying ratio.
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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