NetEase Cloud Music’s First Social Music App Starts Registration

MUS, the first social music app released by $CLOUD MUSIC(09899.HK)$, on September 27 officially opened for registration. MUS, an abbreviation of Music with Us, is designed for matching user groups with similar music tastes.

The “voice” section is an innovative function of MUS and an extension of the music evaluation function of NetEase Cloud Music, which will be followed by a function of uploading posts by voice.

The social entertainment business is seen as the second growth line for $CLOUD MUSIC(09899.HK)$ . In the second quarter of this year, social entertainment services and others’ revenue was about 2.47 billion ($345 million), up 56.7% year on year, accounting for about 58.2% of total revenue. The social entertainment service has 1.2 million monthly paying users. From the perspective of promotion, NetEase Cloud Music attaches great importance to social products. In the second quarter of this year, its sales and marketing expenses increased from $155 million to $326 million, mainly due to an increase in marketing expenses for music-derived social entertainment products.

In addition to MUS, NetEase Cloud Music has also launched products in karaoke, livestreaming, social networking between strangers and other fields. Its product matrix is gradually catching up with $TME-SW(01698.HK)$ ’s.