{"id":6194,"date":"2025-10-25T00:05:09","date_gmt":"2025-10-25T00:05:09","guid":{"rendered":"https:\/\/musictechohio.online\/site\/sphere-stock-up-wizard-of-oz-sales-milestone\/"},"modified":"2025-10-25T00:05:09","modified_gmt":"2025-10-25T00:05:09","slug":"sphere-stock-up-wizard-of-oz-sales-milestone","status":"publish","type":"post","link":"https:\/\/musictechohio.online\/site\/sphere-stock-up-wizard-of-oz-sales-milestone\/","title":{"rendered":"Sphere Shares Jump 15% on \u2018The Wizard of Oz\u2019 Sales\u00a0Milestone"},"content":{"rendered":"
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\n\tBuoyed by news that The Wizard of Oz<\/em> surpassed 1 million tickets sold<\/a> and $130 million in sales since its Aug. 28 debut, Sphere Entertainment Co. shares rose 14.5% to a new all-time high closing price of $67.24. The film has helped send Sphere Entertainment\u2019s stock price into a new stratosphere. Shares of the Las Vegas venue\u2019s parent company are up 58.4% year to date and have gained 56.4% since Sphere debuted its revamped version of the classic film.\u00a0<\/p>\n

\n\tWhile some music stocks had big gains this week, the 19-company Billboard Global Music Index (BGMI) fell 1.4% to 2,845.60, marking its fifth consecutive losing week. Three music companies had stock gains over 10%, but they are relatively small compared to the index\u2019s largest companies, Spotify and Live Nation, both of which lost ground this week. Foreign exchange rates also played a role in the BGMI\u2019s poor performance despite numerous music stocks posting gains. In the last week, the euro fell about 0.3% against the U.S. dollar while the Korean won lost approximately 1.2%.\u00a0<\/p>\n

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\t\t\t\t\tSphere\u2019s \u2018Wizard of Oz\u2019 Hits New Box Office\u00a0Milestone\t\t<\/p>\n<\/h3><\/div>\n

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\t\t\t\t\tCharlie Puth Joining Anitta, Chris Martin & More on Brazil’s Global Citizen Festival Amaz\u00f4nia Lineup: ‘Such an Important Cause for Our Planet’\t\t<\/p>\n<\/h3><\/div>\n

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\t\t\t\t\t‘VIBE’ Is Joining Forces With ‘Rolling Stone’\t\t<\/p>\n<\/h3><\/div>\n

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\n\tSpotify had the week\u2019s biggest loss after falling 3.8% to $645.78, bringing its five-week decline to 12.1%. Numerous analysts expect the company to raise U.S. subscription prices<\/a> by early 2026, which would provide further margin improvement and help deliver streaming royalty growth to rights holders. Investors appear not to be taking a possible price increase into account yet, though. The Stockholm-based streaming company will announce third-quarter earnings on Nov. 4.\u00a0<\/p>\n

\n\tLive Nation shares slipped 1.5% to $152.86. Although the stock is up 18.0% in 2025, it has fallen 12.0% over the last six weeks. On Wednesday (Oct. 22), Deutsche Bank lowered<\/a> its price target to $173 from $175. Then on Thursday (Oct. 23), Citi lowered<\/a> its price target to $181 from $195.\u00a0<\/p>\n

\n\tLiveOne rose 23.3% to $5.55. The music streaming company announced<\/a> on Monday (Oct. 20) that it plans to launch a subsidiary in Africa, LiveOneAfrica, in partnership with Virtuosity Music Group. \u201cThrough this partnership, we\u2019ll connect LiveOne\u2019s technology and artist ecosystem with one of the most vibrant creative markets in the world,\u201d CEO Robert Ellin<\/strong> said in a statement.<\/p>\n

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\t\t\t\t\tSpotify Will Raise U.S. Prices by Early 2026, Say\u00a0Analysts\t\t<\/p>\n<\/h3><\/div>\n

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\n\tAnghami rose 0.4% to $2.85. On Wednesday (Oct. 22), the company announced<\/a> it will issue 2.38 million shares of common stock to satisfy the convertible debt held by OSN Streaming Limited. Anghami\u2019s share price fell 5% following the news but recovered on Thursday and Friday.\u00a0 \u00a0<\/p>\n

\n\tK-pop stocks were in the black this week. HYBE jumped 6.9%, JYP Entertainment rose 6.1% and SM Entertainment increased 1.5%. YG Entertainment rose just 0.6%.\u00a0<\/p>\n

\n\tInflation data announced Friday showed a modest increase to 3%, leading to a jump in stock prices as investors anticipated a pending interest rate cut by the U.S. Federal Reserve. The economy hasn\u2019t fallen apart despite reports of growing auto reposessions<\/a> and a never-fail sign of tightening budgets: a surge in sales of Hamburger Helper<\/a>.\u00a0<\/p>\n

\n\tIn the U.S., the Nasdaq composite index rose 2.3% to 23,204.87 and the S&P 500 improved 1.9% to 6,791.69 \u2014 both record highs<\/a>. The U.K.\u2019s FTSE 100 gained 3.1% to 9,645.62. South Korea\u2019s KOSPI composite index soared 5.1% to 3,941.59 and hit an all-time high<\/a> on Friday. China\u2019s Shanghai Composite Index rose 2.9% to 3,950.31.<\/p>\n

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