Music Companies Are Not Immune From Sliding Stock Market

  • 📰 billboard
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 63%

United Kingdom News News

United Kingdom United Kingdom Latest News,United Kingdom United Kingdom Headlines

Live music stocks have fared relatively well so far in 2022. Streaming stocks not so much.

Over the last four weeks, these stocks have fallen 10.2%, outpacing the S&P 500 and NYSE composite .Music streaming companies have performed very poorly — in part because they had so far to fall. Spotify, Anghami, Tencent Music Entertainment and Cloud Village have fallen 46.1% year to date and 8.0% since April 22 . In general, the streaming business model has lost some luster as investors realized gains made during the pandemic weren’t just unsustainable but threatened by high inflation.

Still, Spotify’s subscription growth has not pleased investors, either. The company’s shares are down 54.8% in 2022, although the Thursday’s $105.79 closing price is well above the all-time low of $89.03 set on May 12.on Tuesday showed encouraging double-digit year-over-year growth. That put Anghami shares up 1.5% this week, although they’re down 26.6% this year.

Among these companies, the stabler royalty funds — Hipgnosis and Round Hill — which raise money to invest in relatively steady and predictable assets, have performed well amid the downturn: Hipgnosis has dropped only 1.9% and Round Hill's down just 3.1% so far this year.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 112. in UK
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Yes the FBI is putting them permanently under arrest prohibited banking immediately now.

FBI is putting the no face bear under arrest with the rest of ovo now. BillGates you pick me up now on site immediately

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines