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September 2, 2026 By Music Business Worldwide Credit: SM Entertainment/TMESuper Junior-M’s Zhoumi

SM Entertainment has formed a Beijing-based joint venture (JV) with Tencent Music Entertainment Group (TME) to expand its business across Chinese-speaking markets. Named STE, the company will develop Chinese artists, support SM acts in the region, and launch a new Chinese idol group within two to three years.

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On August 12, Tencent Music Entertainment Group (NYSE:TME) held its second-quarter 2026 earnings call, and the numbers told a story bigger than a music app. Total revenue reached RMB 8.9 billion, up 6% year over year, with the freshly consolidated audio platform Ximalaya adding roughly RMB 0.4 billion of that total. Music-related services revenue climbed…

Tencent Music’s Q2 2026 revenue reached $1.32B, buoyed by the consolidation of audio platform Ximalaya.

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This is a paid press release. Contact the press release distributor directly with any inquiries.

This is a paid press release. Contact the press release distributor directly with any inquiries.