Music Streaming Giants: A Week of Ups and Downs

The stock market can be a rollercoaster, and this week was no different for music streaming companies. After a tough four weeks, things started to look up for some big names in the industry. Tencent Music Entertainment saw a significant boost. Their shares jumped by 11. 6% to $14. 00. This happened after they released their fourth-quarter earnings. The company reported a big increase in subscribers and subscription revenue. Their revenue even surpassed $1 billion in the fourth quarter. This is an 8. 2% increase from the previous year. Their net profit also climbed by 47. 3% to $284 million. Investors were also happy to hear about a dividend and a $1 billion share repurchase program. The Billboard Global Music Index showed a gain of 3. 0%. This is a positive sign after a four-week losing streak caused by tariffs. The S&P 500 and Nasdaq composite also saw improvements. In the U. K. , the FTSE 100 broke a two-week losing streak. South Korea’s KOSPI composite index gained 3. 0%. However, China’s SSE Composite Index dropped by 1. 6%. LiveOne, a music streaming company, gained 13. 3%. This happened after they announced they surpassed 1. 3 million subscribers and ad-supported users. K-pop company SM Entertainment also had a good week, rising by 10. 0%. Some companies that had been struggling started to turn things around. iHeartMedia gained 9. 3%, improving its year-to-date loss. Madison Square Garden Entertainment rose by 7. 6%, breaking a four-week losing streak. Live Nation also saw a 3. 2% improvement. SiriusXM shares gained 3. 5% after announcing a new independent director to its board. Not all news was good, though. Deezer, a French streaming company, saw a 6. 0% drop in shares. Despite a 12% increase in revenue, their subscribers fell by 3. 1%. JYP Entertainment, a K-pop company, fell by 12. 2%. While their revenue grew, their operating profit dropped due to a decline in album sales and other factors.