As demand for live shows seems sturdy heading into the busy summer season months, Reside Nation led practically all music shares this week by leaping 7.7% to $148.87. On Friday (June 20), the live performance gian surpassed $150 per share for the primary time since Feb. 25, and its intraday excessive of $150.81 was roughly $7 under its all-time excessive of $157.49 set on Feb. 24. Earlier within the week, Goldman Sachs elevated its value goal on the inventory to $162 from $157, implying Reside Nation shares have an 8.8% upside from Friday’s closing value.
The 20-company Billboard World Music Index (BGMI), which tracks the worth of public music firms, completed the week ended June 20 down 2.4% to 2,853.13, its second consecutive weekly decline after 9 straight positive aspects. Regardless of giant single-digit positive aspects by Reside Nation, MSG Leisure and SM Leisure, the index was pulled down as a consequence of losses by its two largest parts: Spotify and Common Music Group (UMG). The week’s decline lowered the BGMI’s year-to-date achieve to 34.3%, although it’s nonetheless properly forward of the Nasdaq (down 0.9%) and the S&P 500 (up 0.4%) on that metric.
Markets sagged within the latter half of the week as buyers expressed issues about tensions within the Center East and the potential impacts on global oil supplies and fuel costs. The tech-heavy Nasdaq completed the week up 0.2% to 19,447.41 whereas the S&P 500 fell 0.2% to five,976.97. Within the U.Ok., the FTSE 100 dropped 0.9% to eight,774.65. South Korea’s KOSPI composite index jumped 4.4% and China’s SSE Composite Index dipped 0.5%.
New York-based reside leisure firm MSG Leisure rose 5.6% to $38.44, bringing its year-to-date achieve to 7.1%. Elsewhere, SM Leisure inventory noticed a 4.5% enchancment, taking its 2025 achieve to 90.4% — the very best amongst music shares save for Netease Cloud Music, which has seen a 111.2% year-to-date achieve.
With streaming shares posting the most important positive aspects of the yr, Spotify shares reached a document excessive of $728.80 on Wednesday (June 18) however stumbled over the following two days and completed the week down 0.5% to $707.42. That decline took Spotify’s year-to-date achieve all the way down to 51.6%.
UMG shares fell 4.2% to 26.73 euros, marking its largest one-week decline since falling 9.2% within the week ended April 4. On the identical time, Bernstein restarted coverage of UMG shares this week. Analysts imagine it’s a “finest at school” music firm, which “implies predictability, a capital allocation framework in line with business developments, and regular working leverage,” analysts wrote. Bernstein set a 33 euro ($38.03) value goal, implying 23% upside over Friday’s closing value.
Shares of music streaming firm LiveOne fell 6.5% on Friday and completed the week down 10.0% after the corporate launched earnings results for its fiscal fourth quarter and yr ended March 31. Fiscal fourth-quarter income fell 37.6% to $19.3 million due primarily to a lower in Slacker income. For the total yr, income slipped 3.4% to $114.4 million and adjusted earnings earlier than curiosity, taxes, depreciation and amortization (EBITDA) fell 18.7% to $8.9 million.
Billboard
Billboard
Billboard