NetEase Cloud Music

Cloud Music Inc. Reports Fiscal Year 2023 Financial Results

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Thursday, February 29, 2024
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Apart from top-tier music content, we focused on our most advantageous music genres, such as hip-hop, fuelled by our initiatives in both copyrighted content and original music.

Key Points: 
  • Apart from top-tier music content, we focused on our most advantageous music genres, such as hip-hop, fuelled by our initiatives in both copyrighted content and original music.
  • We also collaborated with our partners like Pepsi to launch annual music festivals and resumed campus tour music festivals, nurturing NetEase Cloud Music musicians.
  • In September 2023, we launched "Project Cloud Ladder 2023 – Phase 2"(云梯计划2023第二期) and introduced the new "Appreciation (赞赏)" feature for tipping.
  • Our in-house studios have recently launched several special music projects, aiming at producing and promoting in-house music, covering band music, hip-hop, R&B, pure music, as well as film music.

NetEase Announces Third Quarter 2023 Unaudited Financial Results

Retrieved on: 
Thursday, November 16, 2023
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HANGZHOU, China, Nov. 16, 2023 /PRNewswire/ -- NetEase, Inc. (NASDAQ: NTES and HKEX: 9999, "NetEase" or the "Company"), a leading internet and game services provider, today announced its unaudited financial results for the third quarter ended September 30, 2023.

Key Points: 
  • HANGZHOU, China, Nov. 16, 2023 /PRNewswire/ -- NetEase, Inc. (NASDAQ: NTES and HKEX: 9999, "NetEase" or the "Company"), a leading internet and game services provider, today announced its unaudited financial results for the third quarter ended September 30, 2023.
  • Gross profit for the third quarter of 2023 was RMB16,966.3 million (US$2,325.4 million), compared with RMB14,375.4 million and RMB13,743.9 million for the preceding quarter and the third quarter of 2022, respectively.
  • The effective tax rate for the third quarter of 2023 was 14.2%, compared with 8.0% and 19.3% for the preceding quarter and the third quarter of 2022, respectively.
  • NetEase paid a dividend of US$0.1050 per share (US$0.5250 per ADS) for the second quarter of 2023 in September 2023.

NetEase Cloud Music Takes the Stage at ADE 2023: Debut as Speaker on China's Dance Music Trends

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Friday, October 20, 2023
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HANGZHOU, China, Oct. 20, 2023 /PRNewswire/ -- Cloud Music Inc. (HKEX: 9899, "NetEase Cloud Music" or the "Company"), a well-known online music platform featuring a vibrant content community, participated for the first time as an ADE Pro speaker at ADE 2023, sharing insights and opportunities in China's dance music industry.

Key Points: 
  • HANGZHOU, China, Oct. 20, 2023 /PRNewswire/ -- Cloud Music Inc. (HKEX: 9899, "NetEase Cloud Music" or the "Company"), a well-known online music platform featuring a vibrant content community, participated for the first time as an ADE Pro speaker at ADE 2023, sharing insights and opportunities in China's dance music industry.
  • "Dance music ranks among the Top 3 most streamed genres on NetEase Cloud Music.
  • As one of the largest dance music platforms in China, we have strategically partnered with the world's top dance music labels to bring their expanding, high-quality content to music lovers in China," said Vivian Wei, Vice President of Copyrights, NetEase Cloud Music.
  • "We also provide musicians with music production, A&R, and promotion support, nurturing their careers while benefiting the dance music industry in the long run."

Cloud Music Inc. Reports First Half 2023 Financial Results

Retrieved on: 
Thursday, August 24, 2023
Cloud, SAIC Volkswagen, Networking hardware, Square, VIP, Music, Communication, Partnership, MAU, Tmall Genie, Capper, Geely, Internet of things, Perception, JTBC, Human, Emotion, Fantasy Westward Journey, Taking Back the Cities Tour, Social entertainment, IPS, PIN, Acquisition, Accounting, Eggy, NetEase, Sound, Maus, OST, Yan Luo, Growth, Xiaoice, Ecology, System, NetEase Cloud Music, Video game, Entertainment, Pharmaceutical industry, Online shopping, Cassette tape

Despite the industry-wide slowdown, our MAUs of online music services for the first half of 2023 steadily climbed to 206.7 million, up 13.7% year-over-year.

Key Points: 
  • Despite the industry-wide slowdown, our MAUs of online music services for the first half of 2023 steadily climbed to 206.7 million, up 13.7% year-over-year.
  • We also secured more high-quality content in the first half of 2023, with a focus on better cost efficiency.
  • We improved our profitability considerably in the first half of 2023, mainly attributable to our increased scale and cost optimisation.
  • In the first half of 2023, we further promoted product innovation and the build-up of a music community that brings excitement to users.

NetEase Announces Second Quarter 2023 Unaudited Financial Results

Retrieved on: 
Thursday, August 24, 2023
Cloud, Queen's Road East, Justice, Hopewell Center, Face, Marketing, Share repurchase, Internet, ADS, Policy, Life Is Feudal: MMO, GAAP, Research, RMB, IOS, Fantasy Westward Journey, Interest, Badlands National Park, The New York Times Company, HKEX, PIN, Investment, NetEase, Magic, Identity V, Shop, Video game, Film industry, Holding company, NetEase Cloud Music, Youdao

HANGZHOU, China, Aug. 24, 2023 /PRNewswire/ -- NetEase, Inc. (NASDAQ: NTES and HKEX: 9999, "NetEase" or the "Company"), a leading internet and game services provider, today announced its unaudited financial results for the second quarter ended June 30, 2023.

Key Points: 
  • HANGZHOU, China, Aug. 24, 2023 /PRNewswire/ -- NetEase, Inc. (NASDAQ: NTES and HKEX: 9999, "NetEase" or the "Company"), a leading internet and game services provider, today announced its unaudited financial results for the second quarter ended June 30, 2023.
  • Gross profit for the second quarter of 2023 was RMB14,375.4 million (US$1,982.5 million), compared with RMB14,896.5 million and RMB12,941.5 million for the preceding quarter and the second quarter of 2022, respectively.
  • Gross profit margin for Youdao for the second quarter of 2023 was 47.0%, compared with 51.7% and 42.8% for the preceding quarter and the second quarter of 2022, respectively.
  • The effective tax rate for the second quarter of 2023 was 8.0%, compared with 19.5% and 22.0% for the preceding quarter and the second quarter of 2022, respectively.

NetEase Cloud Music and RYCE Entertainment Form Strategic Partnership

Retrieved on: 
Friday, July 14, 2023
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HANGZHOU, China, July 14, 2023 /PRNewswire/ -- Cloud Music Inc. (HKEX: 9899, "NetEase Cloud Music" or the "Company"), a well-known online music platform featuring a vibrant content community, today announced that it has entered into a strategic partnership agreement (the "Agreement") with RYCE Entertainment, one of China's leading music and entertainment companies, to further expand the Company's sweeping music content library.

Key Points: 
  • HANGZHOU, China, July 14, 2023 /PRNewswire/ -- Cloud Music Inc. (HKEX: 9899, "NetEase Cloud Music" or the "Company"), a well-known online music platform featuring a vibrant content community, today announced that it has entered into a strategic partnership agreement (the "Agreement") with RYCE Entertainment, one of China's leading music and entertainment companies, to further expand the Company's sweeping music content library.
  • As one of China's leading online music platforms, NetEase Cloud Music is a preferred online destination for younger generations to enjoy music across a wide variety of genres from artists both at home and abroad.
  • In 2022, NetEase Cloud Music hosted 189 million monthly active users who showcased vigorous average daily music listening trends and interactions with other users in the community.
  • As a forerunner in China's online music industry, NetEase Cloud Music continues to partner with leading entertainment companies around the globe.

Digital Sales of the Latest (G)I-DLE Mini Album Exceed 300,000 Copies on NetEase Cloud Music

Retrieved on: 
Monday, June 12, 2023
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HANGZHOU, China, June 12, 2023 /PRNewswire/ -- Cloud Music Inc. (HKEX: 9899, "NetEase Cloud Music" or the "Company"), a well-known online music platform featuring a vibrant content community, today announced that the latest mini-album from South Korean girl group (G)I-DLE has once again captivated K-Pop fans across China with digital sales exceeding 300,000 copies on NetEase Cloud Music, topping the platform's 2023 charts in terms of gross sales as of June 12.

Key Points: 
  • HANGZHOU, China, June 12, 2023 /PRNewswire/ -- Cloud Music Inc. (HKEX: 9899, "NetEase Cloud Music" or the "Company"), a well-known online music platform featuring a vibrant content community, today announced that the latest mini-album from South Korean girl group (G)I-DLE has once again captivated K-Pop fans across China with digital sales exceeding 300,000 copies on NetEase Cloud Music, topping the platform's 2023 charts in terms of gross sales as of June 12.
  • Following the debut of the 6-song mini-album, titled "I FEEL," on NetEase Cloud Music on May 15, 2023, the album quickly amassed more than 20 million streams after its release.
  • Empowered by NetEase Cloud Music's distinctive music-inspired ecosystem, fans have lauded the K-Pop powerhouse since their highly successful debut full album "I NEVER DIE" and exciting follow-on 5th mini album "I LOVE".
  • In total, digital sales from the three (G)I-DLE albums have sold over 1.5 million copies and surpassed RMB31 million on NetEase Cloud Music, collectively accumulating over 264 million streams from avid fans to date.

NetEase Announces First Quarter 2023 Unaudited Financial Results

Retrieved on: 
Thursday, May 25, 2023
Cloud, Online, STEAM, Advertising, Queen's Road East, Justice, Hopewell Center, Marketing, Share repurchase, Internet, ADS, Policy, GAAP, Research, RMB, IOS, Fantasy Westward Journey, Interest, Badlands (Halsey album), The New York Times Company, HKEX, PIN, Investment, NetEase, Magic, Ecosystem, Identity V, Shop, Video game, Cryptocurrency, NetEase Cloud Music, Youdao

HANGZHOU, China, May 25, 2023 /PRNewswire/ -- NetEase, Inc. (NASDAQ: NTES and HKEX: 9999, "NetEase" or the "Company"), one of China's leading internet and online game services providers, today announced its unaudited financial results for the first quarter ended March 31, 2023.

Key Points: 
  • HANGZHOU, China, May 25, 2023 /PRNewswire/ -- NetEase, Inc. (NASDAQ: NTES and HKEX: 9999, "NetEase" or the "Company"), one of China's leading internet and online game services providers, today announced its unaudited financial results for the first quarter ended March 31, 2023.
  • Net revenues from Youdao were RMB1,163.3 million (US$169.4 million) for the first quarter of 2023, compared with RMB1,454.0 million and RMB1,200.5 million for the preceding quarter and the first quarter of 2022, respectively.
  • Gross profit for the first quarter of 2023 was RMB14,896.5 million (US$2,169.1 million), compared with RMB13,244.4 million and RMB12,836.4 million for the preceding quarter and the first quarter of 2022, respectively.
  • The effective tax rate for the first quarter of 2023 was 19.5%, compared with 20.2% and 22.0% for the preceding quarter and the first quarter of 2022, respectively.

NetEase Cloud Music Launches Dolby Atmos for Vast Music Contents and Scenarios

Retrieved on: 
Friday, May 19, 2023
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HANGZHOU, China, May 19, 2023 /PRNewswire/ -- Cloud Music Inc. (HKEX: 9899, "NetEase Cloud Music" or the "Company"), a leading interactive music streaming service provider in China, recently announced it now supports Dolby Atmos® across its vast music library and scenarios, making premium immersive listening experiences more accessible to music fans across China.

Key Points: 
  • HANGZHOU, China, May 19, 2023 /PRNewswire/ -- Cloud Music Inc. (HKEX: 9899, "NetEase Cloud Music" or the "Company"), a leading interactive music streaming service provider in China, recently announced it now supports Dolby Atmos® across its vast music library and scenarios, making premium immersive listening experiences more accessible to music fans across China.
  • With this update in its Dolby Atmos offering, NetEase Cloud Music is providing music enthusiasts with an immersive audio experience that brings out more depth, clarity, and details in their favorite music.
  • NetEase Cloud Music also plans to bring more premium content from top-tier musicians in Dolby Atmos to more scenarios, including the home music space and Intelligent Connected Vehicles (ICVs) throughout the rest of this year.
  • Introducing spatial audio ft. Dolby Atmos, now available on NetEase Cloud Music", said Sam Smith.

Cloud Music Inc. Amplifies C-Pop Content with Extended Rock Records Partnership

Retrieved on: 
Thursday, March 30, 2023
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HANGZHOU, China, March 30, 2023 /PRNewswire/ -- Cloud Music Inc. (HKEX: 9899, "NetEase Cloud Music" or the "Company"), a leading interactive music streaming service provider in China, today announced that it has renewed its agreement ("the Agreement") with Rock Records Co., Ltd. ("Rock Records"), one of Asia's largest independent record labels, granting NetEase Cloud Music the right to distribute Rock Records' music catalog in China.

Key Points: 
  • HANGZHOU, China, March 30, 2023 /PRNewswire/ -- Cloud Music Inc. (HKEX: 9899, "NetEase Cloud Music" or the "Company"), a leading interactive music streaming service provider in China, today announced that it has renewed its agreement ("the Agreement") with Rock Records Co., Ltd. ("Rock Records"), one of Asia's largest independent record labels, granting NetEase Cloud Music the right to distribute Rock Records' music catalog in China.
  • Under the terms of the Agreement, NetEase Cloud Music and Rock Records will continue to collaborate to promote the presence of Rock Records' prominent and fan-favorite artists and content.
  • Particularly, NetEase Cloud Music will also obtain the rights to sublicense Rock Records' music for use in multiple scenarios, such as third-party applications, website background music and smart devices.
  • Moving forward, NetEase Cloud Music will forge ahead with top-notch music copyright holders and continue to provide more high-quality music content to music lovers in China.