Shares of Warner Music Group rose 6.6% this week to $31.47, cutting the stock’s loss this year to 12.1%. Other record label and music publisher gainers included HYBE, up 1.8% to 200,500 won ($144.95), and Universal Music Group, up 1.4% to 28.63 euros ($30, 67).

Streaming companies, however, had the best week. Led by LiveOne’s 6.4% gain, music streaming stocks averaged a gain of 0.3% – versus an average decline of 0.3% for record labels and publishers. Elsewhere, Tencent Music Entertainment rose 5.2% to $14.80 and Spotify rose 1.6% to $313.02. The three companies also boast three of the four best performances of the past year: Live One is up 30.0%, Tencent Music is up 64.3% and Spotify is up 66.6%. The fourth company in this comparison is Hipgnosis Songs Fund, which is up 41.4% thanks to its impending acquisition by Blackstone.

Despite the overall strength among streaming companies, three of them posted losses. Cloud Music fell 2.4% to HKD103.00 ($13.19), taking year-to-date gains down to 14.8%. Anghami lost 2.8% to $1.03, bringing the stock’s loss to 1.0% this year. And Deezer plunged 6.1% to 1.86 euros ($1.99), bringing its full-year loss to 12.7%.

The 20 company Billboard global music index rose 1.1% to 1,820.01, bringing the year-to-date gain to 18.7% and the 52-week improvement to 36.5%. Although the index made a small gain, 11 of the 20 stocks lost value, compared to seven gainers and two that were unchanged.

While music stocks saw only a small gain overall, the Nasdaq composite rose 3.2% to 17,688.88 to post its fifth consecutive record close on Friday (June 14). The eS&P 500 improved 1.6% to 5,431.60. South Korea’s KOSPI composite index gained 1.3% to 2,758.42. On the losing side, China’s Shanghai Composite Index fell 0.6% to 3,032.63 and Britain’s FTSE 100 fell 1.2% to 8,146.86.

However, the Billboard Global Music Index will outperform these major indexes in 2024. Through June 14, the Nasdaq is up 17.8% and the S&P 500 is up 13.9%. Indices in other countries have posted smaller gains. The FTSE is up 5.3%, the KOSPI composite index is up 3.9% and the Shanghai Composite Index is up 1.9%.

Shares of LiveOne rose 6.4% to $1.82 after the company announced it had surpassed 3.8 million total members, up 25% year over year, while Tesla memberships rose to 1.8 million , up 32% year over year (almost all new Tesla members). vehicles sold in the United States come with a paid membership to LiveOne’s Slacker Radio). “Our goal is to forge meaningful alliances with companies that share our passion for innovation, customized programming and delivering exceptional customer value,” Brad Konkolhead of Slacker Radio, in a statement.

Shares of Live Nation fell 2.0% to $88.75 as the company continued to lose ground in the wake of the Justice Department’s lawsuit to shut down the company’s concert promotion and ticketing operations. CFRA Research lowered its Live Nation price target to $98 from $105 on Wednesday (June 12). While earnings per share estimates remained unchanged, CFRA opted for a more conservative valuation multiple to reflect the “business risk of the DOJ and live entertainment moving into the slower part of the year starting in October.” Kenneth Leon wrote.

The biggest loss of the week in the Billboard Global Music Index came from Cumulus Media, which fell 18.1% to $1.94. Shares of the Atlanta-based radio company are down 63.5% so far this year. Fellow radio company iHeartMedia fell 3.2% to $1.21 this week, bringing its full-year loss to 54.7%.