In a week with little news and few regulatory filings, music stocks finished the last full week of 2024 by dropping for the third consecutive week. The 20-company Billboard Global Music Index fell 0.6% to 2,155.51, lowering its year-to-date gain to 40.5%. The index has fallen 5.5% over three weeks after rising 14.6% over six consecutive weekly gains. Six stocks finished the week in positive territory while 13 lost ground and one was unchanged.
on Monday that it completed a debt exchange that reduced its long-term debt load by $440 million and extended maturity dates. The independent music companies all posted declines. Reservoir Media dropped 4.3% to $8.86 and Believe fell 4.0% to 13.78 euros . All four South Korean companies lost ground, too: YG Entertainment dropped 2.6%, HYBE fell 2.5%, JYP Entertainment lost 2.0% and SM Entertainment slipped 1.6%. Spotify, the BGMI’s most valuable music company, dropped 0.8% to $456.