HYBE and JYP Entertainment stocks rose this week on news of a new J-Hope release and tour and the launch of a new boy band, respectively.
J Hope attends the Louis Vuitton Menswear Fall-Winter 2023-2024 show as part of Paris Fashion Week on Jan. 19, 2023 in Paris.HYBE and JYP Entertainment were among the few music stocks to make gains this week as markets stumbled globally. HYBE, home toand its members’ solo projects, rose 7.2% to 215,500 won , its best closing price since Nov. 20, thanks to Friday’s news that BTS memberThe 20-company Billboard Global Music Index slipped 1.4% to 2,126.
Warner Music Group shares dropped 5.4% to $29.33 after three analysts lowered their price targets ahead of WMG’s quarterly earnings release on Feb. 6. Guggenheim lowered its WMG price target to $40 from $44 after taking into account an expected 1.5% foreign exchange impact on the latest quarter’s revenue and a 1.7% impact on revenue for the full fiscal year ended Sept. 30, 2025.
Spotify, which announces fourth-quarter earnings on Feb. 4, fell 1.5% to $459.53. Goldman Sachs raised its Spotify price target this week to $550 from $490. Spotify shares have fallen in five of the last six weeks and are 9.3% below the all-time high of $506.47 set on Dec. 4. Music streaming company LiveOne had the index’s biggest decline, dropping 12.4% to $1.20. Radio broadcaster iHeartMedia fell 11.7% to $1.88. SiriusXM continued its losing streak, sinking 6.8% to $20.83. SiriusXM shares fell 58.3% in 2024 and have dropped 16.4% in the last three months. K-pop company SM Entertainment sank 5.1% to 68,900 won .
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