Cloud Music Inc. reported a 4.1% revenue increase to RMB4.1 billion in H1 2024, a 26.6% growth in online music services revenue, a 169.
Cloud Music Inc., China's leading interactive music streaming service, reported a 4.1% revenue increase to RMB4.1 billion in H1 2024, with online music services revenue growing 26.6% to RMB2.6 billion. Net profit rose 169.4% to RMB809.9 million, partly due to a boost in monthly paying users and the recent upgrade of the "NetEase Cloud Music" app. The company also expanded its content offerings by adding major Korean music labels and supporting independent artists.
August 22, 2024
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