NetEase Cloud Music (09899) rose nearly 6% in early trading. As of press release, it had risen 4.52% to HK$122.5, with a turnover of HK$14.3218 million.
The Zhitong Finance App learned that NetEase Cloud Music (09899) rose nearly 6% in early trading. As of press release, it had risen 4.52% to HK$122.5, with a turnover of HK$14.3218 million.
According to the news, NetEase Cloud Music recently stated that it is stepping up efforts to continue to expand the copyright library, and has recently taken a large number of advertising slots offline. In addition to the opening screen location, NetEase Cloud Music VIP users enjoy an ad-free experience and will continue to be optimized. The company also revealed that a new, simpler version will be released in the near future.
SPDB International pointed out that NetEase Cloud Music is the second largest online music platform in China. The company's user strategy focuses on covering young user groups and has a high penetration rate among the younger generation. The company is committed to supporting emerging musicians and strengthening the platform's original music ecosystem. The company's active community atmosphere helps increase user stickiness and achieve better user retention. At this stage, the company is paying more attention to the growth in the number of users. We expect that with the maturity of the commercialization stage of the company, there is great potential for future revenue and profit growth.