NetEase Cloud Music Inc. announced its financial results for the first half of 2025 ended June 30, 2025. The company reported an adjusted net profit of RMB1,946.3 million, more than doubling with a 120.9% increase year-over-year from RMB880.7 million in H1 2024. This significant profit growth occurred despite a 5.9% year-over-year decline in revenue to RMB3,827.1 million.
Gross margin improved to 36.4% for the first half of 2025, a notable increase from the same period in 2024, owing to increased business scale, strong monetization of the core online music business, and ongoing cost optimization. Subscription-based membership revenue increased by 15.2% year-over-year, driven by an expanding subscriber base, though slightly offset by a dilution in monthly average revenue per paying user.
The platform continued to enhance its content ecosystem, including expanding copyrighted content with Korean music labels such as RBW and StarShip Entertainment, and fostering over 819,000 registered independent artists by June 2025. NetEase Cloud Music also expanded its multi-terminal layout, improving IoT coverage with partnerships for in-car experiences in new brands and models such as Jetour and LYNK & CO, aiming to deepen user engagement and expand music consumption scenarios.
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