Core Viewpoint - NetEase Cloud Music has launched a significant AI music creation competition with substantial prize money, reflecting its commitment to innovation in the music industry and the growing importance of AI technology in music creation [1] Company Summary - NetEase Cloud Music's stock rose nearly 5%, reaching HKD 195.9 with a trading volume of HKD 12.44 million [1] - The "Million Prize AI Music Creation Competition" offers the largest prize pool in the domestic AI music competition sector, with first, second, and third prizes of RMB 500,000, RMB 200,000, and RMB 100,000 respectively [1] - The platform has introduced an AI song incentive program to encourage high-quality AI song creation, allowing all registered musicians to participate [1] - The "AI Songwriting" feature has been launched on the NetEase Tianyin platform, enabling users to convert their ideas into complete songs easily [1] Industry Summary - According to a report by Research and Markets, the market value of generative AI in the global music industry is projected to reach USD 419.85 million in 2024, with a remarkable annual growth rate of 53.34% [1] - The report forecasts that the AI value in the global music market will soar to USD 4.3 billion by 2029 and reach USD 22.57 billion by 2034, indicating a promising market outlook [1]
港股异动 | 网易云音乐(09899)涨近5% AI音乐创作大赛正式启动 此前旗下平台上线“AI写歌”趣味功能