We don’t have the latest financial results from Chinese streaming service NetEase Cloud Music yet: they’ll come in the near future from its publicly-listed parent company Cloud Village. However, we do have some numbers from Cloud Village’s majority shareholder NetEase, from its Q3 financials last week.
NetEase Cloud Music saw its revenues grow by 22.5% year-on-year to RMB 2.36bn (around $331m) according to MBW. That growth is due to the streaming service continuing to increase its number of paying users, although that figure won’t be announced until Cloud Village publishes its more detailed results.
NetEase Cloud Music ended the second quarter of this year with 181.9 million monthly active users, 37.6 million of whom were paying in some way.
The service’s Q3 revenues of RMB 2.36bn compare to RMB 3.43bn for rival Tencent Music that quarter, although the latter owns three streaming services: QQ Music, Kugou Music and Kuwo Music.
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