When Music Ally writes about NetEase Cloud Music and Tencent Music’s financial results, we take care to refer to ‘paying users’ rather than ‘subscribers’.
Why? Because their Chinese streaming services do a healthy business in selling digital albums too.
Here’s the latest example: K-Pop group (G)IDLE have sold more than 300,000 copies of their latest mini-album on NetEase Cloud Music, becoming its top-grossing album of 2023 so far despite having only been released on 15 May.
Cumulative sales for ‘I FEEL’ and the group’s two previous albums ‘I NEVER DIE’ and ‘I LOVE’ have now surpassed 1.5m copies, as well as more than 264m streams on the service. NetEase Cloud Music also said that (G)IDLE have more than 1.7 million fans on its platform.
This is all part of the service’s wider focus on K-Pop, having signed deals with South Korean music companies YG Entertainment and SM Entertainment in 2022 to grow its catalogue of K-Pop music.
Tools: platforms to help you reach new audiences
Tools :: Wyng
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