Warner Music Group shares rose 6.6% to $31.47 this week, narrowing the stock’s year-to-date loss to 12.1%. Other gainers in the record label and music publisher space had been HYBE, up 1.8% to 200,500 won ($144.95), and Universal Music Group, up 1.4% to 28.63 euros ($30.67). 

Streaming corporations had the ideal week, nonetheless. Led by LiveOne’s 6.4% get, music streaming stocks had an typical get of .3% — versus an typical .3% decline for record labels and publishers. Elsewhere, Tencent Music Entertainment gained 5.2% to $14.80 and Spotify added 1.6% to $313.02. The 3 corporations also boast 3 of the best 4 year-to-date performances: Live One is up 30.%, Tencent Music is up 64.3% and Spotify is up 66.6%. The fourth organization in that equation is Hipgnosis Songs Fund, which is up 41.4% due to its upcoming acquisition by Blackstone. 

Despite general strength amongst streaming corporations, 3 of them posted losses. Cloud Music fell 2.4% to 103.00 HKD ($13.19), lowering its year-to-date get to 14.8%. Anghami lost 2.8% to $1.03, placing the stock’s year-to-date loss at 1.%. And Deezer stumbled 6.1% to 1.86 euros ($1.99), bringing its year-to-date loss to 12.7%. 

The 20-organization Billboard Global Music Index rose 1.1% to 1,820.01, bringing its year-to-date get to 18.7% and its 52-week improvement to 36.5%. Although the index mustered a compact get, 11 of its 20 stocks lost worth compared to seven gainers and two that had been unchanged.

While general music stocks managed only a compact enhance, the Nasdaq composite rose 3.2% to 17,688.88 and enjoyed its fifth-straight closing record on Friday (June 14). Th eS&ampP 500 enhanced 1.6% to 5,431.60. South Korea’s KOSPI composite index gained 1.3% to 2,758.42. On the losing side, China’s Shanghai Composite Index dropped .6% to 3,032.63 and the United Kingdom’s FTSE 100 fell 1.2% to 8,146.86. 

The Billboard Global Music Index is outperforming these important indexes in 2024, nonetheless. Through June 14, the Nasdaq is up 17.8% and the S&ampP 500 is up 13.9%. Indexes in other nations have managed smaller sized gains. The FTSE is up 5.3%, the KOSPI composite index is up 3.9% and the Shanghai Composite Index is up 1.9%.

LiveOne shares enhanced 6.4% to $1.82 right after the organization announced it had surpassed 3.8 million total members, a 25% year-more than-year enhance, even though Tesla memberships rose to 1.8 million, up 32% year-more than-year (almost all new Tesla cars sold in the United States come with a paid membership to LiveOne’s Slacker Radio). “Our goal is to forge meaningful alliances with companies that share our passion for innovation, bespoke programming, and delivering exceptional customer value,” Brad Konkol, head of Slacker Radio, mentioned in a statement. 

Live Nation shares fell 2.% to $88.75 as the organization continued to shed ground in the wake of the Department of Justice’s lawsuit looking for to break up the company’s concert promotion and ticketing firms. CFRA Research lowered its Live Nation value target to $98 from $105 on Wednesday (June 12). Although its earnings-per-share estimates had been unchanged, CFRA opted for a additional conservative valuation various to reflect “business risk from the DOJ and live entertainment moving to the slower part of the year starting in October,” analyst Kenneth Leon wrote. 

The Billboard Global Music Index’s most significant loss of the week came from Cumulus Media, which fell 18.1% to $1.94. The Atlanta-primarily based radio company’s shares are down 63.5% year to date. Fellow radio organization iHeartMedia dropped 3.2% to $1.21 this week, bringing its year-to-date loss to 54.7%.