NetEase Market Snapshot and Business Overview
CLOUD MUSIC
USD million¹
Note:
1
Cloud Music
Net Revenues and Gross Margin
14.2%
323
3Q22
27.0%
Gross Margin Net Revenues
27.2%
267
270
Cloud Music considerably strengthened its
music-centric membership monetization and
further improved overall profitability.
Net revenues declined 16% compared to the
same period last year, as a result of declining
revenue of social entertainment services as we
adjusted our focus to improve profitability.
Continued to expand our music library by adding
songs from popular C-pop artists like Karen Mok
(莫文蔚), ZHENG Jun (郑钧) and ZHANG Jie (张
*).
Dedicated to empowering and assisting
independent artists, we served a thriving
community of over 660,000 registered
independent artists as of the end of September.
2Q23
3Q23
US$1.00 = RMB7.2960 on September 29, 2023. Same exchange rate is applied to all years for illustrative purposes
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