NetEase advertising spend, FY2025
NetEase (NTES) reported $1.6B of advertising expense for the fiscal year ended Dec 31, 2025. That is 9.9% of revenue of $16.1B. Up 6.7% from FY2024.
Key facts
- Ad spend is 2.8x its FY2020 level ($580M), faster than revenue (1.4x).
- FY2025 is the highest year on file, going back to FY2018.
- Largest increase +140.3% in FY2020; largest cut -43.5% in FY2019.
- Ad spend is 9.9% of revenue, up from 5.1% in FY2020.
- NetEase spends more on advertising than 87% of the 336 US-listed companies tracked. Its ad-to-revenue ratio is 1.9x the median of 5.2%.
Ad spend by fiscal year
Ad spend as % of revenue
History
Download CSV| Fiscal year | Period end | Ad spend | YoY | Revenue | Ad / revenue | Tag | Filing |
|---|---|---|---|---|---|---|---|
| FY2025 | Dec 31, 2025 | $1.6B | +6.7% | $16.1B | 9.9% | MarketingAndAdvertisingExpense | 20-F Apr 15, 2026 |
| FY2024 | Dec 31, 2024 | $1.5B | 0.0% | $14.4B | 10.4% | MarketingAndAdvertisingExpense | 20-F Apr 15, 2025 |
| FY2023 | Dec 31, 2023 | $1.5B | +99.1% | $14.6B | 10.3% | MarketingAndAdvertisingExpense | 20-F Apr 25, 2024 |
| FY2022 | Dec 31, 2022 | $753M | +27.6% | $14B | 5.4% | AdvertisingExpense | 20-F Apr 27, 2023 |
| FY2021 | Dec 31, 2021 | $591M | +1.9% | $13.7B | 4.3% | AdvertisingExpense | 20-F Apr 28, 2022 |
| FY2020 | Dec 31, 2020 | $580M | +140.3% | $11.3B | 5.1% | AdvertisingExpense | 20-F Apr 28, 2021 |
| FY2019 | Dec 31, 2019 | $241M | -43.5% | $8.5B | 2.8% | AdvertisingExpense | 20-F Apr 29, 2020 |
| FY2018 | Dec 31, 2018 | $427M | n/a | $9.8B | 4.4% | AdvertisingExpense | 20-F Apr 26, 2019 |
What the figure is
Marketing and advertising combined, as reported under the XBRL tag MarketingAndAdvertisingExpense.
Earlier years use a different tag. The Tag column above shows which one applies to each year.
Compared with similar spenders
The 6 companies closest to NetEase in latest-year ad spend.
| Rank | Company | Ad spend | Ad / revenue | YoY | Fiscal year |
|---|---|---|---|---|---|
| 38 | MercadoLibre | $1.7B | 5.8% | +60.5% | FY2025 |
| 39 | Visa | $1.7B | 4.2% | +7.9% | FY2025 |
| 40 | Mondelez | $1.7B | 4.3% | -21.6% | FY2025 |
| 41 | Coty | $1.6B | 27.7% | +2.1% | FY2026 |
| 42 | DoorDash | $1.6B | 11.7% | +23.1% | FY2025 |
| 43 | Johnson & Johnson | $1.6B | 1.7% | +166.7% | FY2025 |
| 44 | NetEase | $1.6B | 9.9% | +6.7% | FY2025 |
Questions
How much does NetEase spend on advertising?
NetEase spent $1.6B on advertising in fiscal 2025, the year ended Dec 31, 2025, according to its 20-F filed Apr 15, 2026.
What percentage of revenue does NetEase spend on advertising?
9.9% of revenue in fiscal 2025 ($1.6B of $16.1B). The median across the 336 companies tracked is 5.2%.
Is NetEase spending more on advertising?
Yes. Ad spend rose 6.7% in fiscal 2025 from fiscal 2024.
How does NetEase rank by advertising spend?
#44 of 336 US-listed companies with $100M or more in ad spend, ranked on each company's latest fiscal year.
What does NetEase's advertising figure include?
Marketing and advertising combined, as reported under the XBRL tag MarketingAndAdvertisingExpense.
Source
- Filing
- 20-F for FY2025, filed Apr 15, 2026
- Accession number
0001104659-26-043468- Company
- NetEase, Inc., CIK 1110646, SIC 7372 (Services-Prepackaged Software)
- Data
- SEC EDGAR XBRL company facts, retrieved Nov 4, 2026. Methodology.
- Cite
- NetEase advertising spend, FY2018-FY2025. Aleksei Trudov, io.trudov.com, from SEC EDGAR XBRL company facts (latest: 20-F filed Apr 15, 2026), retrieved Nov 4, 2026. https://io.trudov.com/company/netease/advertising-spend/
- Download
- CSV, all years · CSV, all 336 companies