Sharp growth in paying users boosted the Chinese music streamer Cloud Village, though its social entertainment platforms accounted for most of the revenue growth.
Cloud Village’s monthly music services users were roughly flat at 181.7 million, while the ratio of daily to monthly users remained above 30% in the quarter. The increase in music subscribers pushed the ratio of paid-to-total users from 13.3% to 20.2%. The company also boasted an improvement in average daily listening time, from 76.5 minutes to 82.0 minutes, in part because nearly half of users browsed the “comments section” while listening to music.
Cloud Village also operates social entertainment platforms such as LOOK Live Streaming, Sheng Bo and Yin Jie. Social entertainment revenue grew 61.6% to RMB 1.18 billion after monthly paying users increased 170% to 1.2 million, although the average revenue per social paying user declined 40.4% to RMB 329.8 ., fell 2.1% to HKD 57.50. That put Cloud Village down 63.4% year to date; it was also 72% below the 205.00 initial public offering price. Like TME, whose shares are down 46.
Looking forward, Cloud Village plans to offer more tools to foster user-generated content creation and utilize social networking features, develop independent artists and offer more in-house production music. Additionally, Cloud Village is considering expansion opportunities in new markets.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Economic uncertainty and ongoing war cast a cloud over DavosBeyond the mandatory coronavirus tests, the mood at the World Economic Forum in Davos, Switzerland, is decidedly somber, weighed heavily by concerns of the pandemic, continuing war, widening economic inequality and fears of a global economic slowdown.
Les mer »
Asian shares mostly lower as inflation worries cloud outlookAsian shares are mostly lower as worries over inflation temper optimism over President Joe Biden’s remark that he was considering reducing U.S. tariffs on Chinese imports
Les mer »
China's BSN Ready With Blockchain Cloud Service for August Launch: Report BSN Ready with Blockchain Cloud Service for August Launch: ReportThe Chinese government-backed non-crypto blockchain infrastructure will be available to businesses for quick and cost-effective deployment of technology. The Chinese government-backed non-crypto blockchain infrastructure will be available to businesses for quick and cost-effective deployment of technology
Les mer »
Broadcom in talks to purchase cloud computing company VMwareChipmaker Broadcom is in talks to acquire cloud service company VMware, though negotiations are still ongoing.
Les mer »
Best Buy Stock Earnings: BBY price supported by better revenue than expected in Q1Best Buy (BBY) stock is up 3.3% at $75 in the first half hour of Tuesday's session after the retailer reported better than anticipated sales figures.
Les mer »
Mental Health First Aid helps adults identify and assist children experiencing mental health crisesEven children are learning to speak up about their struggles but sometimes grown-ups don't know how to help.
Les mer »