Shulou(Shulou.com)11/24 Report--

According to CTOnews.com news on August 24, NetEase Yun Music announced on the Hong Kong Stock Exchange today that the income in the first half of the year was about 3.908 billion yuan, down 8.2 percent from the same period last year. The adjusted net profit was 332 million yuan, compared with a net loss of 217 million yuan in the same period last year. The main performance table attached by CTOnews.com is as follows:

NetEase Yun Music continued to improve its music-centric liquidity and effective profit margins in the first half of 2023, thanks to a significant increase in subscription members. as well as the optimization of operational efficiency and cost structure, gross profit margin soared to 24.7% in the first half of 2023.

According to the financial report, the number of monthly active users of NetEase Yun music online music service increased to 206.7 million in the first half of 2023, an increase of 13.7% over the same period last year, while the number of monthly paid users of online music service reached 41.75 million, an increase of 11% over the same period last year. Thanks to the expansion of the size of members and the growth of income per fee-paying households, the revenue of member subscriptions increased by 16.7% in the first half of the year, and the monthly income per paying user of online music services increased to 6.8 yuan.

The revenue from online music services reached 2.021 billion yuan in the first half of the year, up 13.3 percent from the same period last year, the financial report said, while social entertainment services and other income reached 1.89 billion yuan, and the number of monthly fees paid by social entertainment services increased to 1.5 million. Profitability improved significantly in the first half of 2023, thanks to the expansion of the platform and the adjustment of cost optimization and revenue sharing, gross profit margin rose from 12.6% in the first half of 2022 to 24.7% in the first half of 2023.

As of the first half of 2023, NetEase Yun's content library contains 136 million music tracks, including music from well-known brands and original musicians. By June 2023, the number of original musicians on the platform exceeded 646000, and a total of about 2.8 million music tracks were created.

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