{"id":108082,"date":"2024-10-25T21:03:57","date_gmt":"2024-10-26T01:03:57","guid":{"rendered":"https:\/\/www.cyberlego.com\/web\/2024\/10\/25\/yg-entertainment-shares-make-big-gain-on-apt-release-as-k-pop-stocks-rise-across-the-board\/"},"modified":"2024-10-25T21:03:57","modified_gmt":"2024-10-26T01:03:57","slug":"yg-entertainment-shares-make-big-gain-on-apt-release-as-k-pop-stocks-rise-across-the-board","status":"publish","type":"post","link":"https:\/\/www.cyberlego.com\/web\/2024\/10\/25\/yg-entertainment-shares-make-big-gain-on-apt-release-as-k-pop-stocks-rise-across-the-board\/","title":{"rendered":"YG Entertainment Shares Make Big Gain on \u2018APT\u2019 Release as K-Pop Stocks Rise Across the\u00a0Board"},"content":{"rendered":"

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\n\tAs earnings season prepares to get underway, K-pop companies were among the week\u2019s rare winners as music stocks broke a six-week winning streak.\u00a0<\/p>\n

\n\tYG Entertainment surged 6.1% this week as the company appears to have scored a hit <\/a>with \u201cAPT\u201d by ROS\u00c9<\/a>, a member of the girl group BLACKPINK<\/a>, featuring Bruno Mars<\/a>. The track got off to a blistering start this week, topping Spotify\u2019s global and U.S. daily streaming charts and earning 13.3 million streams in the U.S. in its first four days of release. SM Entertainment, home to NCT 127<\/a> and RIIZE<\/a>, rose 4.1%, while HYBE, with a roster including Seventeen<\/a> and Tomorrow X Together<\/a>, improved 2.1%. JYP Entertainment, the agency behind Stray Kids<\/a> and ITZY<\/a>, improved 1.4%.\u00a0<\/p>\n

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\t\t\t\t\tRelated\t\t<\/p>\n<\/h3><\/div>\n

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\t\t\t\t\t\t\"ROS\u00c9<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

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\t\t\t\t\tEveryone\u2019s Coming to ROS\u00c9 & Bruno Mars\u2019 \u2018APT.\u2019\t\t<\/p>\n<\/h3><\/div>\n

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\n\tStock prices are likely to see movement in the coming weeks as companies release their results for the quarter ended Sept. 30. The first music companies out of the gate are Reservoir Media (Oct. 30), SiriusXM (Oct. 31), Universal Music Group (Oct. 31) and Cumulus Media (Nov. 1). Other companies that have announced earnings release dates include Sony Corp. (Nov. 8), Tencent Music Entertainment (Nov. 12), Live Nation (Nov. 12) and Spotify (Nov. 12).\u00a0<\/p>\n

\n\tThe 20-company Billboard Global Music Index (BGMI) fell 0.6% to 1,974.72 in the week ended Oct. 25 after breaking 2,000 for the first time the prior week and posting gains the previous five weeks. In the week ended Oct. 18, the BGMI reached 2,001.28, more than doubling in value since the index launched in February 2022. After the recent decline, the index\u2019s year-to-date gain stood at 29.7%, ahead of both the Nasdaq composite (up 23.4%) and S&P 500 (up 21.8%). \u00a0<\/p>\n

\n\tStock markets were mixed this week. In the U.S., the S&P 500 rose 0.2% to 18,518.61 while the Nasdaq composite fell 1.0% to 5,808.12 despite Tesla\u2019s 22% gain after the electric vehicle maker beat earnings expectations and upgraded its growth outlook. In the U.K., the FTSE 100 dropped 1.6% to 8,248.84. South Korea\u2019s KOSPI composite index dipped 0.4% to 2,583.27. China\u2019s Shanghai Composite Index rose 1.2% to 3,299.70. \u00a0<\/p>\n

\n\tOutside of South Korean companies, one of the biggest movers of the week was Live Nation. Ahead of the company\u2019s Nov. 12 earnings release, numerous analysts increased their price targets on the concert promoter\u2019s stock this week: Redburn Atlantic (to $126 from $118), Jefferies (to $132 from $113), JP Morgan (to $137 from $118) and Goldman Sachs (to $132 from $128). Given that the third quarter is historically Live Nation\u2019s strongest period and the company has set all-time records in previous quarters, Q3 results are likely to boast more all-time highs. \u00a0<\/p>\n

\n\tSpotify was one of the index\u2019s few stocks to post a weekly gain \u2014 albeit with just a 0.1% increase. Morgan Stanley raised<\/a> its price target on Spotify on Wednesday to $430 from $400. Analysts see much upside for Spotify. Global subscription penetration (excluding China) \u201cremains relatively low\u201d at 15%, Goldman analysts explained in a Tuesday (Oct. 22) investor note, and Spotify has the ability to further raise prices. Additionally, they wrote, Spotify\u2019s growing audiobook business proved the company can generate more revenue from its subscribers than was possible when it offered just music.<\/p>\n

\n\tMost music stocks had modest, single-digit declines this week. Warner Music Group fell 0.1% to $32.38, Universal Music Group dropped 1.9% to 23.61 euros, Tencent Music Entertainment declined 3.2% to $11.50, Reservoir Media dipped 3.4% to $8.55, iHeartMedia was down 4.3% to $1.80, and both Sphere Entertainment Co. and SiriusXM were off 4.4%.\u00a0<\/p>\n

\n\tLiveOne was the week\u2019s biggest loser after falling 10.6% to $0.58. The music streamer has fallen 38% since its Oct. 1 announcement<\/a> that Tesla will no longer subsidize the LiveOne-powered streaming service in new vehicles. Radio broadcaster Cumulus Media dropped 9.4% to $1.16, bringing its year-to-date decline to 78.2%.\u00a0<\/p>\n

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Aller \u00e0 la source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

As earnings season prepares to get underway, K-pop companies were among the week\u2019s rare winners as music stocks broke a six-week winning streak.\u00a0 YG Entertainment surged 6.1% this week as the company appears to have scored a hit with \u201cAPT\u201d by ROS\u00c9, a member of the girl group BLACKPINK, featuring Bruno Mars. The track got […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-108082","post","type-post","status-publish","format-standard","hentry","category-musique","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"_links":{"self":[{"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/posts\/108082","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/comments?post=108082"}],"version-history":[{"count":0,"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/posts\/108082\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/media?parent=108082"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/categories?post=108082"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/tags?post=108082"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}