HYBE and K-pop stocks rebounded while SiriusXM shares fell on the company's 2025 revenue guidance, Music stocks were down overall this week.
K-pop stocks rebounded this week from a slump caused by the country’s political turmoil. HYBE, which was also dragged down by news of an
, regarding the company’s 2020 initial public offering, led the group of South Korean music companies by gaining 8.7% to 205,500 won , bringing the stock back to its level from one month ago. Elsewhere, YG Entertainment gained 7.2% to 48,250 won to recapture losses from the previous three weeks while SM Entertainment and JYP Entertainment had smaller improvements of 3.3% and 2.6%, respectively.
The 20-company Billboard Global Music Index dropped 1.6% to 2,243.59, marking its first weekly decline in seven weeks. After reaching record highs in each of the previous five weeks, the index was overcome by the losses among 13 of its 20 stocks. The BGMI fared worse than many major indexes. In the United States, the Nasdaq composite gained 0.3% and the S&P 500 fell 0.6%. In the United Kingdom, the FTSE 100 lost 0.1%. South Korea’s KOSPI composite index gained 2.
Other than Anghami and K-pop stocks, only two companies posted gains this week. Universal Music Group, the index’s second-largest company, gained 4.6% to 24.46 euros , its best closing price since itSpotify, the hottest music stock of 2024, had a losing week for the first time since September. The streaming company’s share price dropped 3.1% to $483.31, finishing the week 4.6% off its all-time high of $506.47 set on Dec. 4.
Live Nation shares fell 0.6% to $135.95 despite more analysts raising price targets on the concert promoter’s share price this week. Wolfe Research increased its price target to $160 from $152. JP Morgan upped its price target to $150 from $137. And Roth MKM raised Live Nation to $152 from $132. Live Nation’s stock is up 45.2% year to date and is one of the best performers on the BGMI.guidance for 2025 revenue that would represent a 2% decline from full-year 2024 revenue guidance.
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