Games & Related Value-Added Services was NetEase’s largest segment in fiscal 2025, bringing in $184.30B of $225.25B (82%).
| Segment | FY 2009 | FY 2010 | FY 2011 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Games & Related Value-Added Services | $149.13B | $163.13B | $184.30B | |||||||||
| Online Game Services | — | — | — | |||||||||
| Total Revenues | — | — | — | |||||||||
| Revenues | — | — | — | |||||||||
| Netease Cloud Music | $17.98B | $15.73B | $15.52B | |||||||||
| Innovative Businesses & Others | $15.85B | $17.29B | $13.62B | |||||||||
| Cloud Music | — | — | — | |||||||||
| Youdao | $10.03B | $10.78B | $11.82B | |||||||||
| E-Commerce | — | — | — | |||||||||
| E-Mail & Others | — | — | — | |||||||||
| Advertising Services | — | — | — | |||||||||
| Total | $192.99B | $206.94B | $225.25B |
NetEase brought in $225.25B from its four segments in fiscal 2025, the year ended December 31, 2025. That was up 8.9% from $206.94B in fiscal 2023, the previous year with figures. Games & Related Value-Added Services was the largest at $184.30B (81.8%), ahead of Netease Cloud Music at $15.52B (6.9%) and Innovative Businesses & Others at $13.62B (6.0%). The remaining segment, Youdao, brought in $11.82B.
Compared with fiscal 2023, the previous year with figures, Games & Related Value-Added Services grew fastest, up 13.0% to $184.30B, while Innovative Businesses & Others fell the most, down 21.3% to $13.62B. From fiscal 2022 to 2025, combined revenue from these segments grew from $192.99B to $225.25B, a compound annual growth rate of 5.3%. Games & Related Value-Added Services' share of the total rose from 77.3% to 81.8%.
Over Time was NetEase’s largest revenue line in fiscal 2025, bringing in $184.17B of $225.25B (82%).
| Timing of Transfer of Good or Service | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2025 |
|---|---|---|---|---|---|
| Over Time | $146.35B | $152.65B | $184.17B | ||
| A Point In Time | $46.65B | $54.28B | $41.08B | ||
| Total | $192.99B | $206.94B | $225.25B |
NetEase brought in $225.25B from its two revenue lines in fiscal 2025, the year ended December 31, 2025. That was up 8.9% from $206.94B in fiscal 2023, the previous year with figures. Over Time was the largest at $184.17B (81.8%), ahead of A Point In Time at $41.08B (18.2%).
Compared with fiscal 2023, the previous year with figures, Over Time grew 20.6% to $184.17B, while A Point In Time fell 24.3% to $41.08B. From fiscal 2022 to 2025, combined revenue from these revenue lines grew from $192.99B to $225.25B, a compound annual growth rate of 5.3%. Over Time's share of the total rose from 75.8% to 81.8%.
Online Games Services was NetEase’s largest product and service line in fiscal 2018, bringing in $80.38B of $102.36B (79%).
| Product and Service | FY 2016 | FY 2017 | FY 2018 |
|---|---|---|---|
| Online Games Services | — | — | $80.38B |
| Online Game Services | $55.96B | — | — |
| Others | $7.23B | $11.11B | $15.64B |
| Products | $8.86B | — | — |
| Advertising Services | $4.30B | $4.90B | $5.54B |
| Youdao Learning Services | — | — | $796.37M |
| Youdao Learning Services & Products | — | $299.83M | — |
| Total | $76.36B | $16.31B | $102.36B |
NetEase brought in $102.36B from its four product and service lines in fiscal 2018, the year ended December 31, 2018. NetEase regrouped these lines after fiscal 2017, so the total does not compare directly with that year's $16.31B. Online Games Services was the largest at $80.38B (78.5%), ahead of Others at $15.64B (15.3%) and Advertising Services at $5.54B (5.4%). The remaining line, Youdao Learning Services, brought in $796.37M.
Compared with fiscal 2017, Others grew 40.8% to $15.64B and Advertising Services grew 13.1% to $5.54B.
NetEase began breaking out Online Games Services in fiscal 2018 and Youdao Learning Services in fiscal 2018. NetEase stopped reporting Online Game Services ($55.96B in fiscal 2016), Products ($8.86B in fiscal 2016) and Youdao Learning Services & Products ($299.83M in fiscal 2017) as separate lines.
NetEase (NTES) reports its revenue by segment, by timing of transfer of good or service and by product and service. In fiscal 2025, Games & Related Value-Added Services was its largest segment, bringing in $184.30B (81.8% of the total), followed by Netease Cloud Music at $15.52B (6.9%).
Games & Related Value-Added Services was NetEase's largest segment in fiscal 2025, bringing in $184.30B, or 81.8% of the $225.25B total across its four segments.
Over Time was NetEase's largest revenue line in fiscal 2025, bringing in $184.17B, or 81.8% of the $225.25B total across its two revenue lines.
Online Games Services was NetEase's largest product and service line in fiscal 2018, bringing in $80.38B, or 78.5% of the $102.36B total across its four product and service lines.
Every figure comes from NetEase's annual financial filings, as reported. Each line keeps the name NetEase gives it, and years follow its fiscal calendar.
NetEase's revenue by segment goes back to fiscal 2009, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.