NetEase Cloud Music

Streaming Service

NetEase Cloud Music is a music streaming platform based in China, owned by NetEase Inc.

According to NetEase, its music service has attracted over 800 million registered users since it launched in April 2013.

In November 2018, NetEase Cloud Music raised a $600 million funding round from investors including Baidu, General Atlantic, Boyu Capital and several others.

In September 2019, Chinese retail giant Alibaba announced that it had acquired a minority stake in NetEase Cloud Music after leading a $700 million investment into the platform.

At the time, William Ding, the Chief Executive Officer of NetEase Inc, said: “As the controlling shareholder of NetEase Cloud Music, we will continue to fully support the growth of this business, helping it to realize its strategic goals in the music industry.”

And Daniel Zhang, Chief Executive Officer of Alibaba Group, added: “Alibaba looks forward to becoming a partner in the future development of NetEase Cloud Music and exploring innovative collaboration in the digital entertainment space.”Music Business Worldwide

NetEase Cloud Music In The News

1 2 6