[Brokerage Focus] SWHY maintains a Buy rating on NetEase Cloud Music (09899), indicating that its overall profitability improvement exceeds expectations.

Jinwu Finance | SWHY research indicates that NetEase Cloud Music (09899) will see online music revenue grow by 23% year-on-year in 2024, mainly driven by subscription membership income (up 22% year-on-year). The average paid subscribers for Cloud Music in 2024 are expected to be 0.55 billion, which is a 24% increase year-on-year, corresponding to a payment rate of 26%. Considering the low ARPU of domestic music platforms and the current low payment wall ratio of NetEase Cloud Music, there is still significant growth potential for Cloud Music membership compared to the comprehensive payment rate of 39% for overseas Spotify. The bank indicates that the comprehensive gross margin for Cloud Music will be 34% in 2024, while TME's is 42%, which is higher.

Jinwu Financial NewsApr 23 03:43 ET

NetEase Cloud Music Inc.'s (HKG:9899) Biggest Owners Are Public Companies Who Got Richer After Stock Soared 6.2% Last Week

Simply Wall StApr 22 21:22 ET

NETEASE MUSIC: Annual Report 2024

HKEXApr 15 05:00 ET · Announcements

GF SEC: The Chinese music market has significant growth potential. It is recommended to pay attention to NetEase Cloud Music (09899) and others.

Domestic users have diverse preferences for music, and platforms rely less on top records. Tencent Music and NetEase Cloud Music create differentiated content supply by establishing their own production systems.

Zhitong FinanceApr 13 21:30 ET

The National Film Administration has stated that it will moderately reduce the import quantity of USA films, causing related US stocks to plummet.

① The National Film Bureau responded today to the USA's increased tariffs on China, stating that it will moderately reduce the number of American films imported. ② According to reporters from Caixin, cinema sources have indicated that there has been no notification of Hollywood films such as 'Thunder Force' being withdrawn from release. ③ Over the past three years, domestic films have dominated the annual box office.

cls.cnApr 10 10:41 ET

We Like These Underlying Return On Capital Trends At NetEase Cloud Music (HKG:9899)

Simply Wall StApr 1 20:07 ET