The Ledger: Music Stocks Lost Over $75B in the First Half of 2022

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Among the 22 public music companies Billboard tracks, Spotify and Universal Music Group lost the most in terms of market capitalization.

while its members pursue solo projects. Universal Music Group dropped 22.8% and shed $10.4 billion of market capitalization — the second-largest loss among the total group of 22 music companies.

Once high-flying music streaming companies have also since fallen to earth as investors prioritized value over growth. Spotify, the industry leader, shed $27.4 billion in market capitalization after its stock fell 59.9%; overall, the five publicly traded, stand-alone music streaming companies declined an average of 44.0%. Arab music streamer Anghami declined 54.5%, followed by Chinese companies Cloud Village and Tencent Music Entertainment, which fell 45.7% and 26.7%, respectively.

Four radio companies collectively had the worst six months among all 22 companies, losing an average of 48.9%. IHeartMedia and Audacy dropped 62.5% and 63.4%, respectively. Cumulus Media, which, and Townsquare Media fared better with declines of 31.3% and 38.6%, respectively.

 

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