NetEase Cloud Music's performance improved significantly in the first half of 2023, with net profit turning a profit year-on-year and monthly active users exceeding 200 million

News from this site on August 24, NetEase Cloud Music announced today on the Hong Kong Stock Exchange that revenue in the first half of the year was approximately 3.908 billion yuan, a year-on-year decrease of 8.2%; adjusted net profit was 332 million yuan, a net profit of 332 million yuan in the same period last year. A loss of 217 million yuan. The main performance table attached to this site is as follows:

In the first half of 2023, NetEase Cloud Music continued to improve its music-centered monetization capabilities and effective profits. Thanks to the significant growth in subscription members, as well as the optimization of operating efficiency and cost structure, the gross profit margin in the first half of 2023 soared to 24.7%, compared with 12.6% in the same period in 2022. Financial report shows that

In the first half of 2023, the number of monthly active users of NetEase Cloud Music’s online music service increased to 206.7 million, a year-on-year increase of 13.7%

; the number of monthly paying users of the online music service reached 41.75 million people, a year-on-year increase of 11%. Thanks to the expansion of membership and the growth of revenue per paying user, membership subscription revenue increased by 16.7% in the first half of the year, and the monthly revenue per paying user of online music services increased to 6.8 yuan.

The financial report also pointed out that online music service revenue in the first half of the year reached 2.021 billion yuan, a year-on-year increase of 13.3%; social entertainment services and other revenue was 1.89 billion Yuan, the number of monthly paying users of social entertainment services increased to 1.5 million. Profitability improved significantly in the first half of 2023, thanks to the expansion of platform scale, cost optimization and adjustments to revenue sharing ratios. Gross profit margin soared from 12.6% in the first half of 2022 to 24.7% in the first half of 2023

As of the first half of 2023,

NetEase Cloud Music's content library contains 136 million music tracks

, Includes music from well-known labels and original artists. As of June 2023, the number of original musicians on the platform will exceed 646,000; a total of approximately 2.8 million music tracks have been created. Advertising Statement: This article contains external jump links (including but not limited to hyperlinks, QR codes, passwords, etc.), which are intended to provide more information and save screening time. The results are for reference only. Please note that all articles on this site contain this statement

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