China's Tencent Music posts quarterly revenue in line with estimates

Aug 15 (Reuters) - China's Tencent Music Entertainment Group reported second-quarter revenue in line with market estimates on Tuesday, driven by growth in paying users on its Spotify-like music streaming platform and a recovery in the advertising market.

Total revenue of the company, controlled by Chinese tech giant Tencent Holdings Ltd, stood at 7.29 billion yuan ($1.00 billion) in the quarter ended June 30, compared with analysts' estimates of 7.29 billion yuan, according to Refinitiv data. ($1 = 7.2850 Chinese yuan renminbi) (Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Maju Samuel)