Core Viewpoint - NetEase Cloud Music's stock rose nearly 5%, reaching HKD 195.9 with a trading volume of HKD 12.44 million, following the launch of its "Million Prize AI Music Creation Competition" on December 11, which offers the highest prize pool in the domestic AI music competition sector [1] Group 1: Company Developments - The "Million Prize AI Music Creation Competition" offers prizes of RMB 500,000, RMB 200,000, and RMB 100,000 for the top three winners, respectively [1] - NetEase Cloud Music has launched an AI song incentive program, allowing all registered musicians on the platform to participate [1] - The "AI Songwriting" feature on the NetEase Tianyin platform has been officially tested, enabling users to convert their ideas into complete songs easily [1] Group 2: Industry Insights - 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 rapid 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]
网易云音乐涨近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