HYBE Shares Gain 18% Following UMG Partnership Announcement as Music Stocks Rise Overall

  • 📰 billboard
  • ⏱ Reading Time:
  • 44 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 63%

United Kingdom News News

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

HYBE shares were up this week after its Universal Music Group partnership was announced, though Live Nation and Spotify both fell slightly.

From left: Bang Si-Hyuk , Sir Lucian Grainge , Scooter Braun that the company struck a 10-year partnership with Universal Music Group that calls for the label to distribute HYBE’s physical and digital music and put its artists on HYBE’s Weverse social media platform. HYBE America CEOwill oversee all promotional and marketing collaborations between the two companies. After dropping 9.

Hipgnosis Songs Fund shares climbed 13.5% to 69 pence after the company’s board of directors released an internal report on Thursday that showed the fund’s investment advisor, Hipgnosis Song Management, “materially”and misled investors about the amount of control exercised over the rights in its portfolio. The negative news was welcomed by investors who have taken issue with the company’s accounting practices and portfolio valuation. Hipgnosis shares traded as low as 52.

Stocks were mixed as the trading week was shortened by some exchanges’ closure for Good Friday. In the United States, the Nasdaq composite fell 0.3% to 16,379.46 and the S&P 500 rose 0.4% to 5,254.35. In the United Kingdom, the FTSE 100 rose 0.3% to 7,952.62. South Korea’s KOSPI composite index fell 0.1% to 2,746.63. China’s Shanghai Composite Index dropped 0.2% to 3,041.17.

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.

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

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tencent Music, Spotify & Other Streamers Lead Music Stocks as Legacy Broadcasters Fall ShortSpotify, Tencent and other streamers lead music stocks this week, while legacy broadcast companies finish at the bottom of the heap.
Source: billboard - 🏆 112. / 63 Read more »