Communication Author: EqualOcean News, Yiru Qian Nov 18, 2021 05:35 PM (GMT+8)

Will it succeed this time?

NetEase cloud music

On November 16, the Hong Kong Stock Exchange's official website showed that NetEase Cloud Music had uploaded a new post-hearing data set, with co-sponsors listed as BofA Securities, CICC and Credit Suisse AG.

Previously, on August 1, HKEx disclosed that NetEase Cloud Music had passed the listing hearing and uploaded the post-hearing data set. However, a week later on August 9, the company announced to suspend its listing due to a combination of factors such as the overall market environment.

According to the latest data of NetEase Cloud Music, its performance continues to be in the leading position in terms of the revenue growth rate, pay-per-user growth rate and online music payment rate. Some key financial information is listed as below.

- The total revenue was CNY 5.1 billion, up 52% year-on-year for the first three quarters of 2021.

- The revenue from the online music sector increased to CNY 2.44 billion from CNY 1.85 billion in the same period last year. 

- The revenue from the social entertainment and other sectors increased to CNY 2.67 billion.

- The revenue from online music services accounted for 47.7% of the total revenue, while the social entertainment services and other revenue accounted for the rest 52.3%.

- The gross margin increased significantly and turned positive at 0.4%.

- The monthly active users (MAUs) soared to 184 million in the first three quarters of 2021 from 180 million in the same period last year. 

- The number of paid users of online music was 27.52 million, representing an increase of more than 93% year-on-year.

- The online music payment rate reached 14.9%.

- In the first half of 2021, NetEase Cloud Music's daily active users (DAUs) spent an average of 76.9 minutes per day, with a total of 2.8 billion UGC songs.