NetEase Cloud Music's streaming platform achieved notable growth in 2024, generating total revenue of $1.10 billion (CNY 7.95 billion), marking a 1.1% year-over-year increase. The company's core online music services saw particularly strong performance, with revenue climbing 23.1% to reach $737.85 million (CNY 5.35 billion).

Subscription revenue emerged as a key growth driver, rising 22.2% to $614.45 million (CNY 4.46 billion). The platform also reported a 35.8% increase in users' average consumption time for long-form content, reflecting growing engagement with podcast offerings.

While social entertainment revenue declined 26.2% to $357.67 million (CNY 2.60 billion), the company attributed this to a strategic focus on its core music business. The platform maintains strong partnerships with major K-pop labels including JYP Entertainment, Kakao Entertainment, and CJ ENM.

Notable achievements include:

• 773,500 registered independent artists
• 4.4 million tracks from independent artists
• Successful in-house productions including "Follow" and "Hai Shi Hui Xiang Ni"
• 113% increase in profit to $215.71 million (CNY 1.57 billion)

The company continues to leverage synergies with NetEase Games and maintains direct interests in various musical works, though streaming exclusivity remains restricted by Chinese regulations.

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