Spotify Shares Rose 15% to Lead Soaring Music Streaming Stocks This Week

Spotify led a group of high-flying streaming stocks this week by gaining 14.8% to $157.54 per share, increasing its market capitalization by nearly $4 billion to $30.7 billion. The world’s largest streaming company, which boasted 220 million subscribers as of June 30, has clawed back nearly all its losses since its share price dropped 14% following its

Six music streaming stocks improved by an average of 6.7% this week. Led by SiriusXM’s 11.4% gain, three radio stocks had an average gain of 4.9%. Led by Sphere Entertainment Co.’s 7.9% gain, four live music stocks had an average gain of 1.7%. Eight recorded music and publishing stocks had an average gain of 0.5% and were led by HYBE’s 5.1% improvement.

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Spotify cracks down on white noise podcasters that reportedly cost company $38M a year in profitAs of October 1, white noise podcasters will be ineligible to earn money through Spotify’s “Ambassador Ads” program.
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