HK Stock Market Move | NetEase Music (stock code 09899) surges over 7% in the morning. Recently, its subsidiary NetEase Tianyin platform officially started the internal testing of the "AI Songwriting" feature.

NETEASE MUSIC (09899) rose more than 7% in the morning, and as of the time of writing, it rose by 5.8%, closing at 204.4 Hong Kong dollars, with a trading volume of 1.87 billion Hong Kong dollars. On the news front, recently, according to reports from Kuai Technology, NETEASE MUSIC's platform NetEase Tianyin has officially launched a fun feature called "AI Songwriting" for testing. This feature aims to lower the barrier to music creation using artificial intelligence technology, providing users with a convenient experience of "converting inspiration into songs with just one click". Currently, the feature is mainly open to musicians and a small number of advanced users. Users can enter "AI Songwriting" through the mobile app's homepage, input inspirational words or phrases, and generate a complete song. According to a report by Research and Markets, the market value of generative AI in the global music industry has reached 419.85 million U.S. dollars in 2024, with a rapid annual growth rate of 53.34%. The report predicts that the value of AI in the global music market will soar to 4.3 billion U.S. dollars in 2029 and reach 22.57 billion U.S. dollars in 2034, signaling a promising market outlook.