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https://i-invdn-com.investing.com/news/LYNXMPEE0N05O_M.jpgRevenues from online music services in Q1 were down 4.8% to $413 million. Revenues from music subscriptions grew 17.8% year-over-year to $314 million, with online music paying users reaching 80.2 million (up 31.7% year-over-year) and paying ratio increasing to 13.3% from 12.4% and 9.9% in Q4 and Q1/21, respectively.
Revenues from social entertainment services and others in Q1 were down 20.6% to $635 million.
Shares of Tencent Music were down 40% year-to-date into the results.
By Davit Kirakosyan