NetEase Cloud Music Inc. Website

NetEase Cloud Music Inc.

SEHK-9899

Company Overview

Cloud Village Inc., an investment holding company, engages in the operation of online platforms to provide music and social entertainment services in the People's Republic of China. The company offers music membership subscriptions, sublicensing of content royalties, and online advertising services, as well as sells digital albums, virtual items, and singles; and hosts live streaming services. It also offers NetEase Cloud Music, an online music platform; and ancillary, social entertainment products, such as LOOK Live Streaming, Sheng Bo, and Yin Jie. In addition, the company provides artist management, online music streaming, and music production services. It serves advertisers and paying users. The company was founded in 2013 and is headquartered in Hangzhou, China. Cloud Village Inc. is a subsidiary of NetEase, Inc.

  • Name

    NetEase Cloud Music Inc.

  • CEO

    Lei Ding

  • Website

    ir.music.163.com

  • Sector

    Entertainment

  • Year Founded

    1999

Company Statistics

Profile

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Dividends

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Bulls Say

  • As music consumption increasingly shifts toward independent, Cloud Music reduces its reliance on low-margin major record label deals, leading to a more favorable cost structure and improved margins.

  • Recommendation-driven streams are growing, strengthening Cloud Music's moat through deeper data lock-in and a self-reinforcing cycle that enhances user retention and platform stickiness.

  • Most of Cloud Music's costs still stem from fixed payments to major music labels, meaning revenue growth will unlock greater operating leverage.

Bears Say

  • Cloud Music is dependent on record labels, and there’s nothing proprietary about Cloud Music's service. Over the long term, record labels could find a way to take a greater share of the industry’s profits.

  • The growing popularity of short-form video platforms like Douyin continues to compete for user attention, potentially reducing time spent on music streaming.

  • The evolution from cassettes to CDs, MP3s, and streaming shows how technology reshapes music consumption, and future innovations could shift users away from streaming to new platforms.

Source: Morningstar Analysis - Dec 12, 2025
SEHK:9899