Tencent: Marketing services business revenue in 2025 increased by 19% year-on-year, mainly benefiting from the growth of advertising prices and advertising exposure.

Tencent Holdings announces that the revenue from marketing services business is expected to increase by 19% to RMB 145 billion in 2025 compared to the previous year, mainly due to the growth in advertising prices and advertising exposure. The increase in advertising prices is attributed to AI-driven precise targeting of advertisements, increased use of AI by advertisers to create more advertisements, and the continuous increase in the proportion of closed-loop advertisements. The growth in advertising exposure is mainly attributed to the increased user engagement in products including Video Number and WeChat Search, as well as a slight improvement in advertising loading rates. Most major industries have seen an increase in advertising spending throughout the year.