Tencent Music Entertainment shares fell over 20% on Tuesday following its fourth-quarter earnings report.
Revenue increased 15.9% during the period. Total revenue reached $1.24 billion. The company also reported growth in its paying user base.
Monthly active users dropped 5%. This metric declined to 528 million.
The drop raised concerns about intensifying competition from short-video platforms. Investors prioritized user pipeline growth over the company's improved monetization of its existing audience.