NetEase Cloud Music Inc

09899: XHKG (HKG)

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Turning Playlists Into Communities, NetEase Cloud Music Builds Its Edge in China

Ivan Su

Aug 24, 2026

Business Strategy and Outlook

Cloud Music has built a strong position as China's second-largest music streaming platform by competing on community rather than catalog. The strategy is a deliberate response to the firm's licensing disadvantage versus Tencent Music, and we expect it to maintain market shares over the next five years.

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How we make money

We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

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How we use your information depends on the product and service that you use and your relationship with us. We may use it to:

Verify your identity, personalize the content you receive, or create and administer your account.
Provide specific products and services to you, such as portfolio management or data aggregation.
Develop and improve features of our offerings.
Gear advertisements and other marketing efforts towards your interests.

To learn more about how we handle and protect your data, visit our privacy center.

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Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive.

To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.

Read our editorial policy to learn more about our process.

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NetEase Cloud Music Inc

Turning Playlists Into Communities, NetEase Cloud Music Builds Its Edge in China

Business Strategy and Outlook

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