NetEase Income Statement Summary Q1 2022
CLOUD MUSIC
USD million
Note:
1
Cloud Music
Net Revenues and Gross Margin
(3.1%)
235
1Q21
4.1%
Gross margin
Net revenues
326
298
4Q21
12.2%
1Q22
US$1.00 RMB6.3393 on March 31, 2022. Same exchange rate is applied to all years for illustrative purpose
NetEase Cloud Music
Net revenues increased 39% year-over-year to RMB2.1
billion, due to increased revenues from membership
subscriptions and social entertainment services
Increased membership paying ratio year-over-year to 20%
Gross margins more than doubled quarter-over-quarter in
Q1 reaching 12.2%, as we continued to optimize our
content cost structure
Home to more than 450,000 registered independent artists
on our platform by the end of March 2022
Introduced "Harry Potter Magic Radio," a joint-collaboration
with NetEase Games, allowing gamers to enjoy Harry
Potter-themed podcast content within the game
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