NetEase's Q1 2023 financial report released a significant increase in NetEase Cloud Music's Q1 gross profit margin to 22.4%
On May 25th, NetEase Corporation (09999) released its results for the first quarter of 2023. Data shows that NetEase achieved a revenue of 25 billion yuan in the first quarter
On May 25th, NetEase Corporation (09999) released its results for the first quarter of 2023. Data shows that NetEase achieved a revenue of 25 billion yuan in the first quarter. Among them, NetEase Cloud Music has deeply cultivated the content ecology and product innovation, continuously deepening user participation in the music community, and significantly improving its gross profit margin.
In the first quarter, NetEase Cloud Music continued to develop healthily, and achieved Q1 revenue of 2 billion yuan and gross profit margin of 22.4%, up from 12.2% in the same period last year, through continuous innovation of business cooperation mode, including cooperation with China Mobile Video RBT, upgrading Dolby Atmos experience, and covering more IoT terminals.
Copyright content is increasingly enriched, community ecology drives business cooperation and innovation
Since 2023, NetEase Cloud Music has successively reached cooperation with copyright owners and well-known artists such as Xinxin Music, Rolling Stone Records, Elephant Music, Yudingshi, Wu Qingfeng, Dreamus Company, SLL, etc. The copyright of top music has become increasingly rich. At the same time, NetEase Cloud Music continued to expand the sound consumption scene, continued to produce and introduce high-quality audio content to provide users with more high-quality consumption content, and produced the radio drama "Death kaleidoscope", which became the first radio drama with an infinite stream of more than 100 million broadcast volume.
In terms of community construction, NetEase Cloud Music continues to optimize the product experience, enhance user engagement, and showcase a highly cohesive community interactive atmosphere.In the first quarter, the first mass-oriented music business testing system was launched to help users comprehensively understand their perception, control, and appreciation in the music field, triggering widespread participation and interaction among cloud village users. At the end of March, a brand new upgrade was made to the classic vinyl player style that has been in use for ten years, with multiple player styles including Time Mode, Youth Color Glue, and Retro Music Player. Among them, "Time Mode" highlights the warm community atmosphere of Yuncun.
Continuously expanding internal and external linkage and cross-border cooperation, driving innovation in commercial cooperation.In January 2023, NetEase Cloud Music and NetEase's casual social mobile game "Egg Boy Party" jointly created a music linkage level with the theme of Cloud Village, providing players with an immersive audio game leisure scene experience3TVMagicOS
Continuously increasing the influence of original music support content with added code
242023100%
67
2023handsome lau/HYPEEZY/3050Aioz/LOFTHESTAR/121Gem
KHIFIVEVfine1400251%
Tag: NetEase Q1 2023 financial report released significant increase in
Disclaimer: The content of this article is sourced from the internet. The copyright of the text, images, and other materials belongs to the original author. The platform reprints the materials for the purpose of conveying more information. The content of the article is for reference and learning only, and should not be used for commercial purposes. If it infringes on your legitimate rights and interests, please contact us promptly and we will handle it as soon as possible! We respect copyright and are committed to protecting it. Thank you for sharing.
