Live Nation a Rare Winner as Music Stocks Have Tough Week

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Live Nation was the top music stock for the week's Billboard Global Music Index, rising 2.5% to $97.02 and one of four stocks in positive territory.

Live Nation was the top-performing music stock and one of four stocks in positive territory this week. The concert promoter gained 2.5% to $97.02 while three other concert promotion stocks — Sphere Entertainment Co., Madison Square Garden Entertainment and CTS Eventim — each lost ground. fell 1.9% to 1,788.83 as 16 of its 20 stocks finished the week in negative territory. Music streaming companies Deezer and Anghami were two of the week’s other big winners with gains of 1.0% and 0.

In 2021, iHeartMedia shares surpassed $28 after the advertising market recovered from a COVID-19 pandemic-related collapse. But in the subsequent three years, its shares have lost nearly all their value asThe index didn’t fall further than 1.9% because many of its most valuable companies suffered only minor losses this week. Spotify, the largest contributor to the float-adjusted index, dropped only 0.5% while HYBE, one of the index’s more valuable components, fell just 1.5%.

 

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Live Nation Shares Up 7% After Record Quarter, Universal Music Shares Gain on Earnings & TikTok RenewalLive Nation shares climbed 7.2% after record first quarter results were released and management commented about a potential antitrust lawsuit.
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