{"id":4849,"date":"2025-08-30T00:30:31","date_gmt":"2025-08-30T00:30:31","guid":{"rendered":"https:\/\/musictechohio.online\/site\/sphere-entertainment-stock-gains-spotify-shares-fall-bgmi\/"},"modified":"2025-08-30T00:30:31","modified_gmt":"2025-08-30T00:30:31","slug":"sphere-entertainment-stock-gains-spotify-shares-fall-bgmi","status":"publish","type":"post","link":"https:\/\/musictechohio.online\/site\/sphere-entertainment-stock-gains-spotify-shares-fall-bgmi\/","title":{"rendered":"Sphere Entertainment Stock Gains for Second Week, Spotify Shares Fall to 13% Below All-Time\u00a0High"},"content":{"rendered":"
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\n\tBuzz surrounding the return of Dorothy, Tin Man, Scarecrow and Cowardly Lion may have helped make Sphere Entertainment Co. the best-performing music stock for the week ended Aug. 29. Sphere Entertainment shares rose 6.8% to $45.35 in an otherwise muted week for music stocks.<\/p>\n

\n\tOn Thursday, the Sphere venue in Las Vegas debuted \u2014 to both positive<\/a> and negative<\/a> reviews<\/a> \u2014 its revamped version of the 1939 film The Wizard of Oz<\/em>. The premiere was prefaced by a heavy national media campaign that showed both the love for the 1939 original film and curiosity about the state-of-the-art, multi-sensory venue. To date, Sphere had sold 215,000 tickets<\/a> for The Wizard of Oz<\/em> at over $100 apiece.\u00a0<\/p>\n

\n\tSphere Entertainment shares have gained 13.7% in the last two weeks, turning a 5.1% year-to-date loss into a 6.8% gain this year. Aside from the attention gained by The Wizard of Oz<\/em>, the venue has racked up some wins in recent months. The Sphere recently concluded a Kenny Chesney<\/a> residency in June and will commence with a Zac Brown Band<\/a> residency in December<\/a>. In addition, the venue added 14 additional Backstreet Boys<\/a> performances to extend the group\u2019s well-received run<\/a> into February 2026.\u00a0<\/p>\n

\n\tThe Billboard Global Music Index (BGMI), a float-adjusted index of 19 publicly traded music companies, fell 1.5% to 2,979.62 in its second consecutive weekly decline. (The index originally had 20 stocks, but Believe was taken private<\/a> and no longer trades on the Euronext Paris exchange.) With a majority of music stocks in the red this week, the index\u2019s year-to-date gain dropped to 40.2%.<\/p>\n

\n\tU.S. indexes fell as core U.S. inflation, which excludes food and energy costs, rose to 2.9% in July<\/a>, the highest level since February. The Nasdaq composite fell 1.6% to 21,142.01 and the S&P 500 dropped 0.1%. International indexes were mixed. The U.K.\u2019s FTSE 100 fell 1.4% to 9,187.34 but South Korea\u2019s KOSPI composite index rose 0.5% to 3,186.01 and China\u2019s Shanghai Composite Index improved 0.8% to 3,857.93.\u00a0<\/p>\n

\n\tOther than Sphere Entertainment, only three stocks had gains above 1%: Cumulus Media (up 6.3%), Anghami (up 4.1%) and MSG Entertainment (up 3.5%). Three of the most valuable music companies had gains of less than 1%: SiriusXM (up 0.8%), HYBE (up 0.5%) and Live Nation (up 0.5%).\u00a0<\/p>\n

\n\tWith most music stocks losing ground this week, the BGMI was dragged down by the losses of its three most valuable music companies. Spotify fell 1.5% to $682.34, taking the stock 13.1% below the all-time high of $785.00 set on June 27. Universal Music Group dropped 2.7%, bringing its year-to-date gain to 1.0%. And Tencent Music Entertainment sank 3.2% to $24.53, although a blistering first half of 2025 has helped put the stock up 120.0% this year.\u00a0<\/p>\n

\n\tTwo K-pop companies were among the week\u2019s worst performers. SM Entertainment fell 3.9% to 138,800 KRW ($99.82) and JYP Entertainment was down 5.6% to 72,700 KRW ($52.29). The biggest loser of the week was music streamer LiveOne, which fell 8.3% to $0.55 and extended its year-to-date loss to 59.9%.\u00a0<\/p>\n

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Buzz surrounding the return of Dorothy, Tin Man, Scarecrow and Cowardly Lion may have helped make Sphere Entertainment Co. the best-performing music stock for the week ended Aug. 29. Sphere…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[387,502,843,2997,2766,1110],"tags":[],"class_list":["post-4849","post","type-post","status-publish","format-standard","hentry","category-business","category-business-news","category-music-stocks","category-sphere","category-sphere-entertainment-co","category-stocks"],"_links":{"self":[{"href":"https:\/\/musictechohio.online\/site\/wp-json\/wp\/v2\/posts\/4849","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/musictechohio.online\/site\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/musictechohio.online\/site\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/musictechohio.online\/site\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/musictechohio.online\/site\/wp-json\/wp\/v2\/comments?post=4849"}],"version-history":[{"count":0,"href":"https:\/\/musictechohio.online\/site\/wp-json\/wp\/v2\/posts\/4849\/revisions"}],"wp:attachment":[{"href":"https:\/\/musictechohio.online\/site\/wp-json\/wp\/v2\/media?parent=4849"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/musictechohio.online\/site\/wp-json\/wp\/v2\/categories?post=4849"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/musictechohio.online\/site\/wp-json\/wp\/v2\/tags?post=4849"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}