The 20-company Billboard Global Music Index enhanced 2.1% to a record 2,208.32, bringing its year-to-date gain to 44.0%.
Roaming Kids carry out throughout Lollapalooza at Grant Park on August 2, 2024 in Chicago, Illinois. Josh Brasted/FilmMagic
JYP Entertainment, the K-pop business behind such artists as TWICE and Stray Kids, is on a roll, with its stock closing Friday (Nov. 22) at 66,100 won ($47.06)– up 11.3% for the week and marking its greatest closing cost because May 10. Today, the business relatively got a push from the Monday (Nov. 18) statement of Stray Kids’ 20-date, Live Nation-produced arena trip in 2025 that will cover North America, Latin America and Europe. The momentum has actually been constructing for a while; over the last 3 weeks, JYP shares have actually acquired 35.6%.
Other K-pop stocks likewise published gains today: YG Entertainment increased 7.7% as “APT” by ROSÉ and Bruno Mars invested a 4th week atop the Signboard worldwide charts and reached No. 1 in Japan. Somewhere else, HYBE enhanced 4.4% and SM Entertainment increased 4.3%. Jointly, the 4 K-pop business have actually gotten approximately 20.7% in the last 3 weeks and narrowed their typical year-to-date deficit to 15%.
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Another high-flying music stock was Live Nation, which leapt 8.7% to an all-time high of $140.26 on Friday after more experts increased their cost targets. Citigroup increased its target on the show promoter to $163 from $130, while Deutsche Bank upped its target to $150 from $130. Since Friday’s closing cost, Live Nation shares have actually acquired 49.8% in 2024 and 19.8% in simply the last 3 weeks. The business’s third-quarter revenues on Nov. 11 can take credit for a few of the current gains, though Donald Trump’s triumph in the U.S. governmental election played a part, too, as financiers think Live Nation’s continuous suit brought by the Department of Justice will see a more beneficial resolution with the inbound administration.
In other music stocks news, Spotify continued its hot streak by getting 3.7% to $475.27, marking its second-highest closing rate ever. A week previously, Spotify shares acquired 14.5% after the business’s third-quarter profits revealed the business attained a record operating revenue. The streaming business’s stock has actually gotten 153% in 2024 and is up 23.6% in the last 3 weeks alone.
The 20-company Billboard Global Music Index increased 2.1% to a record 2,208.32 as 14 stocks ended up the week with gains, putting it in line with stocks around the world. In the United States, both the Nasdaq composite and S&P 500 increased 1.7%. In the United Kingdom, the FTSE was up 2.5%. South Korea’s KOSPI composite index acquired 3.5%. Just China’s Shanghai Composite Index was an exception, dropping 1.9%.
In other places, music banner LiveOne got 12.8% to $0.88, while iHeartMedia enhanced 8.6% to $2.40 after the radio giant revealed terms for a financial obligation exchange that will alleviate the business’s monetary problem and extend the majority of the maturity dates for its financial obligations.