HYBE was the week’s high performing music inventory after its share worth jumped 15.9% to 291,000 KRW ($209.33) following the company’s Q2 earnings on Wednesday (Aug. 6). The Ok-pop large’s income rose 10.2% year-over-year to $516.7 million, whereas working revenue jumped practically 30% to $48.3 million
Different Ok-pop shares additionally posted massive positive factors. YG Leisure rose 17.4% after reporting an 11.6% income achieve in Q2. JYP Leisure climbed 14.5% though the corporate didn’t report earnings this week. SM Leisure, which reported a 19% increase in consolidated income in Q2, gained 8.3%. Collectively, the 4 Ok-pop corporations posted a median inventory worth achieve of 14.0%.
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Every week after practically all music shares suffered losses, a handful of Q2 outcomes helped the Billboard International Music Index (BGMI) achieve 9.0% to 2,980.51. Shares improved in markets around the globe after taking a drubbing every week earlier. Within the U.S., the Nasdaq composite rose 3.7% and the S&P 500 improved 2.3%. Within the U.Ok., the FTSE 100 improved 0.3%. South Korea’s KOSPI composite index rose 2.9%. China’s SSE Composite Index improved 2.1%.
Warner Music Group (WMG) shares jumped 10.8% to $31.71, its greatest closing worth since March 27, following the corporate’s earnings results on Thursday (Aug 7). Inspired by streaming progress, market share and cost-cutting, amongst different developments, some analysts raised their WMG worth targets following the announcement. J.P. Morgan lifted WMG to $36 from $33, citing income that got here in forward of estimates and “margin-accretive progress” to come back from renewed licensing offers with streaming platforms. TD Cowen raised WMG to $46 from $36. Guggenheim maintained its purchase ranking and $37 worth goal.
Dwell Nation shares gained 4.7% to $153.13 and reached an intraday worth of $156.65 on Friday (Aug. 8), lower than $1 under its 52-week excessive, after the corporate’s earnings results launched Thursday confirmed a 16% spike in complete income and a 19% bounce in live performance income. Many analysts lifted their worth targets on Friday, together with Benchmark (to $180 from $178), Wolfe Analysis (to $173 from $168), Guggenheim (to $182 from $170), Goldman Sachs ($168 from $162), Roth Capital (to $180 from $164) and JP Morgan (to $180 from $165).
The most important streaming corporations additionally posted sturdy positive factors. Spotify, the BGMI’s Most worthy element, jumped 12.4% to $706.22 after dropping 9.4% every week earlier. Presently valued at roughly $145 billion, Spotify is effectively under its 52-week excessive of $785.00 set on June 27. Netease Cloud Music rose 9.0% to 266.80 HKD ($33.99), bringing its year-to-date achieve to 133.6%. Tencent Music Leisure rose 7.7% to $22.13, elevating its 2025 achieve to 95.0%.
Cumulus Media, which reported earnings on Thursday, noticed its shares fall 6% on Friday however completed the week up about 14%. Traders reacted to the 9.2% decline in income within the second quarter and CEO Mary Berner’s description of a “difficult” promoting panorama. Adjusted EBITDA fell 11.3% to $22.4 million from $25.2 million within the prior-year interval.
iHeartMedia was the week’s largest loser, falling 11.6% to $1.60. The corporate will report second-quarter outcomes on Monday (Aug. 11).
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