Led by two leisure firms within the Dolan household portfolio, music shares collectively eked out a small achieve this week, marking their fifth consecutive weekly achieve after a Trump tariff-induced two-week slide in early April.
Sphere Leisure Co. shares jumped 18.9% to $28.05 after the company’s quarterly earnings on Thursday (Might 8) confirmed that the Sphere venue’s price administration helped offset a 12.8% decline in income. CEO James Dolan instructed analysts he isn’t involved a couple of attainable downturn in tourism from a sluggish U.S. economic system or a drop in worldwide guests. “In terms of concert events,” he mentioned, “demand exceeds capability, so we have now room to soak up any points.”
MSG Leisure, one other Dolan family-controlled firm, rose 7.7% to $33.59 after the corporate’s quarterly earnings report on Tuesday (Might 6) confirmed a 6% income improve and regular shopper spending regardless of a lower in event-related income resulting from fewer occasions. JP Morgan maintained each its “impartial” ranking and $41 worth goal.
The 20-company Billboard International Music Index (BGMI) rose 0.8% to 2,717.17, its second-highest mark and its first time above 2,700 because it closed at a report 2,755.53 the week ended Feb. 14. With 5 consecutive weeks within the black, the BGMI is up 10.2% since President Trump introduced his tariff coverage and set off a inventory sell-off.
Music shares outperformed the Nasdaq composite (down 0.3%), the S&P 500 (down 0.6%), the U.Ok.’s FTSE 100 (down 0.5%) and South Korea’s KOSPI composite index (up 0.7%). China’s SSE composite index gained 1.9%.
Common Music Group, which reported earnings on April 29, obtained a wholesome bounce this week, gaining 4.5% to 25.86 euros ($29.10). That introduced its year-to-date achieve to 13.0%.
Warner Music Group (WMG) shares fell 8% on Thursday after its quarterly earnings release and completed the week down 9.6% to $30.26. WMG inventory was possible impacted by a 0.3% decline in streaming income, a metric intently watched by buyers. The decline took WMG’s year-to-date loss to 11.8%. Quite a few analysts reacted by lowering their WMG worth targets: Morgan Stanley (to $31 from $32), Barclays (to $28 from $31), UBS (to $38 from $41) and TD Cowen (to $36 from $41).
Radio firms loved a optimistic week amidst uncertainty in regards to the U.S. promoting market. The best gainer of the week was iHeartMedia, which jumped 18.9% to $1.06 forward of the corporate’s first quarter earnings launch on Monday (Might 12). Yr-to-date, the radio big’s shares have fallen 40.8%. SiriusXM rose 5.4% to $20.47.
Ok-pop firms had a blended week. YG Leisure spiked 9.9% after the corporate reported massive will increase in each working revenue and web revenue within the first quarter. Elsewhere, HYBE rose 2.1% whereas SM Leisure, which introduced earnings on Wednesday (Might 7), fell 0.9% and JYP Leisure dropped 1.8%.
Secondary ticketing market Vivid Seats (which isn’t listed on the BGMI) fell 33.9% to $1.79 after the corporate’s first quarter income plummeted 14% resulting from what CEO Stan Chia referred to as “softening trade developments amidst financial uncertainty.” Whereas Stay Nation beforehand instructed buyers it’s seeing strong demand for occasions later in 2025, Vivid Seats painted a distinct image. The corporate suspended steerage for the total yr and mentioned it expects trade volumes to be flat or lower in 2025. Earlier steerage referred to as for mid-to-high single-digit progress.
Billboard
Billboard
Billboard
