TME's non-subscription music services revenue, encompassing live concerts, advertising, and merchandise, jumped 28.0% YoY to RMB 1.94 billion (USD $282 million) in Q1
China's State Administration for Market Regulation (SAMR) issued an announcement on Tuesday (May 12) granting conditional approval to the USD $2.4 billion cash-and-stock deal, nearly a year after Tencent Music first unveiled the transaction in a June 2025 SEC filing.