YG Leisure shares gained 4.3% this week as “APT” by ROSÉ and Bruno Mars continued its sizzling streak. Every week after YG’s inventory gained 6.1% following the observe’s blockbuster begin on streaming providers, the observe topped each the Billboard World 200 and Billboard World Excl. U.S. charts. ROSÉ, a member of YG recording artist BLACKPINK, launched “APT” by means of Atlantic Data in partnership with THEBLACKLABEL, a YG sub-label co-founded in 2015 by BLACKPINK producer Teddy Park. Whereas YG continues to handle BLACKPINK, ROSÉ signed with THEBLACKLABEL for the administration of her solo profession.
Common Music Group (UMG) shares fell 0.7% over the week however gained 1.6% to 23.45 euros ($25.52) on Friday (Nov. 1) following the corporate’s third-quarter earnings the prior day. Morgan Stanley raised its value goal to 35 euros ($38) from 33 euros ($35.90). “Our conviction on UMG is as excessive because it’s ever been,” Morgan Stanley analysts wrote in an investor be aware. Guggenheim known as UMG’s third-quarter outcomes “encouraging” and maintained a 25.50 euros ($27.74) value goal and its “impartial” score on UMG shares.
SiriusXM gained 4.7% to $27.65 after the corporate’s third-quarter earnings launch on Thursday (Oct. 31) confirmed a web acquire of 14,000 self-pay subscribers within the quarter. Regardless of the uptick, common income per person fell as a result of a “larger proportion of subscribers on self-pay promotional and streaming-only plans,” the corporate stated.
Deezer shares gained 2.1% to 1.43 euros ($1.56) after the corporate’s third-quarter earnings confirmed 11% income progress and a 9% uptick in subscribers. New CEO Alexis Lanternier sounded upbeat about partnerships with MeLi+ and Mercado Libre, which has transformed free trials at a charge “larger than our expectations,” in his phrases. Nonetheless, Deezer’s share value is down 32.9% 12 months so far.
Reservoir Media fell 3.5% to $8.25 following its earnings launch on Wednesday (Oct. 30) which confirmed strong 6% income progress. The inventory didn’t get a bump from Reservoir’s barely upgraded full-year steering nor B. Riley’s improve of its value goal to $12.50 from $11.50.
The 20-company Billboard World Music Index (BGMI) was basically flat for the week, rising 0.3% to 1,995.67 regardless of having simply seven gainers versus 13 shares that misplaced floor. The small improve introduced the index’s year-to-date acquire to 30.1% and reversed the BGMI to the win class after it dropped 0.6% the prior week, breaking a streak of six consecutive weeks of positive aspects.
Even a small acquire outperformed many main inventory indexes. In the US, the Nasdaq composite fell 1.5% to 18,329.92 and the S&P 500 fell 1.4% to five,728.80. Each indexes rose on Friday, nevertheless, as traders paid little consideration to a weak jobs report and each Amazon and Intel jumped after reporting quarterly earnings. On Thursday (Oct. 31), Meta and Microsoft shares fell following their respective earnings experiences, with Meta dropping 3% and Microsoft falling greater than 5%.
Music streamer LiveOne was the best gainer of the week after leaping 32.8% to $0.77. The corporate introduced on Thursday that it has engaged MZ Group to extend the visibility of PodcastOne within the funding group. LiveOne spun off PodcastOne in 2023 and retained an 81% stake. Traders could have taken be aware of MZ Group’s Chris Donovan’s assertion that PodcastOne “owns mental property that may be bought for a major return on funding.”
Outdoors of YG Leisure, the opposite 4 Ok-pop shares misplaced floor. HYBE fell 3.1% and elevated its year-to-date loss to twenty.0%. JYP Leisure fell 4.2%. SM Leisure slipped 0.7%. Collectively, the 4 Ok-pop firms’ share costs are down 28.6% in 2024.
iHeartMedia jumped 16.1% to $2.09 per week earlier than the corporate experiences third-quarter earnings on Thursday (Nov. 7). One other radio firm, Cumulus Media, dropped 19.0% to $0.94 following its launch of third-quarter earnings on Friday. The corporate’s income fell 1.8% to $204 million and it noticed a web lack of $10.3 million, down from a web revenue of $2.7 million within the prior-year interval. “Trying ahead, the promoting setting stays unsure,” warned Cumulus CEO Mary Berner.
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