Dream Wired
No Result
View All Result
  • Home
  • Celebrity
  • DramaAlert
  • Gossip
  • Movie
  • TV
  • Music
  • Comics
  • Shop
  • Home
  • Celebrity
  • DramaAlert
  • Gossip
  • Movie
  • TV
  • Music
  • Comics
  • Shop
No Result
View All Result
Dream Wired
No Result
View All Result
Home Music

SiriusXM, Deezer Share Prices See Big Gains & More Music Stock News

rmtsa by rmtsa
July 6, 2024
in Music
0
SiriusXM, Deezer Share Prices See Big Gains & More Music Stock News
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter


You might also like

15 Best Rock Song Collaborations of the 2000s

Justin Bieber Watches World Series Thriller

Rosalía Gets Surreal In ‘Berghain’ Video

Leading all music stocks this week, SiriusXM shares rose as high as $4.14 on Friday (July 5), its highest point since March 13, and closed at $3.71, up 31.1%. The satellite radio company, which also owns music streaming service Pandora and has high hopes for its revamped SiriusXM streaming app, is likely benefitting from an upcoming 10-to-1 reverse stock split and merger with Liberty Media’s SiriusXM Group tracking stock. The merger eliminates any confusion amongst investors by creating only one way to invest in SiriusXM. And although the split doesn’t affect the company’s value, it will increase the share price by reducing the number of shares outstanding. That, in turn, could help SiriusXM’s image with investors and further help prop up the share price. 

French streaming company Deezer rose 20.3% to 2.07 euros ($2.25) after it completed a public offering that transferred shares from the professional to the general segment of the Euronext Paris. (The professional segment is dedicated to companies that did not have an initial public offering or sale of shares. Deezer gained entry to the Euronext Paris through a merger with I2PO, a special purpose acquisition company, in 2022.) With that improvement, Deezer’s year-to-date loss improved to 12.3% from 19.2% a week ago. The company will report first-half earnings results on July 30. 

The Billboard Global Music Index (BGMI) rose 1.6% to 1,844.87, nearly matching the all-time record of 1,847.64 set the week ended May 17, with the large gains enjoyed by SiriusXM and Deezer helping offset losses by 11 of the index’s 20 stocks. The index’s most valuable companies had small gains this week: Live Nation rose 1.7% to $95.34, Universal Music Group added 0.9% to 28.03 euros ($30.41) and Spotify gained 0.8% to finish at $316.85. 

Music stocks couldn’t match many major indexes this week. In the United States, the Nasdaq composite gained 3.5% to 18,352.76 and the S&P 500 rose 2.0% to 5,567.19 — both record closes. Stocks were aided by data released on Friday by the U.S. Labor Department that showed that the economy added more jobs than expected in June while the increase in hourly earnings met expectations. The rise in the unemployment rate rise from 4.0% to 4.1% was a surprise, however.

Internationally, the U.K.’s FTSE 100 improved 0.5% to 8,203.93. South Korea’s KOSPI composite index gained 2.3% to 2,862.23. China’s Shanghai Composite Index dropped 0.6% to 2,949.93. 

Sphere Entertainment Co. improved 6.8% to $37.43, bringing its year-to-date gain to 10.1%. On Wednesday (July 3), the company announced it had given executive chairman/CEO James Dolan a new three-year employment contract that runs through June 30, 2027. That ensures Dolan will continue to oversee the growth of Sphere in Las Vegas and additional locations the company will target. Looking ahead, Dead & Company’s 30-show residency at the venue concludes on Aug. 10 while the Eagles will begin a 16-date residency — eight weekends of Friday and Saturday concerts — on Sept. 20.

Music streaming company LiveOne fell 14.6% to $1.34, putting the stock down 4.3% year to date. On Monday (July 1), the company announced a partnership with Seekr to build an AI-powered search engine for beats and sounds. The platform, expected to launch by the end of the year, is intended to help creators and music licensors.

Korean companies continued to struggle this week. HYBE fell 2.5% to 197,400 won ($143.30), bringing its year-to-date loss to 15.5%. SM Entertainment fell 3.5% to 77,600 won ($56.33) and has fallen 15.7% in 2024. Two K-pop companies not in the Billboard Global Music Index fared even worse: JYP Entertainment, home to TWICE and Stray Kids, dropped 2.8% to 55,700 won ($40.43) and has fallen 45% this year; while YG Entertainment, home to BLACKPINK and BABYMONSTER, sank 5.3% to 38,150 won ($27.69) and has lost 25% year to date. 



Source link

Tags: BigDeezerGainsmusicNewsPricesShareSiriusXMStock
Share30Tweet19
rmtsa

rmtsa

Recommended For You

15 Best Rock Song Collaborations of the 2000s

by rmtsa
October 28, 2025
0
15 Best Rock Song Collaborations of the 2000s

The spirit of collaboration may have been no stronger in any era than the 2000s. In fact, we've got 15 big rock collaborations from the decade to show...

Read more

Justin Bieber Watches World Series Thriller

by rmtsa
October 28, 2025
0
Justin Bieber Watches World Series Thriller

Game 3 of the 2025 World Series had it all: records were set, heroes were made, and Justin Bieber was in the audience. Bieber showed up for his...

Read more

Rosalía Gets Surreal In ‘Berghain’ Video

by rmtsa
October 28, 2025
0
Rosalía Gets Surreal In ‘Berghain’ Video

Rosalía delivers a stunning first sample from her upcoming Columbia album, LUX, in the form of the Nicolás Méndez-directed, Warsaw-set video for “Berghain,” which features vocals from Björk...

Read more

Diddy’s Official Prison Release Date Revealed

by rmtsa
October 27, 2025
0
Diddy’s Official Prison Release Date Revealed

Diddy's official prison release date has been revealed.On Sunday (Oct. 26), Diddy's information was entered into the Federal Bureau of Prisons, revealing the Bad Boy Entertainment founder is...

Read more

Lou Reed and the Velvet Underground Albums Ranked Worst to Best

by rmtsa
October 27, 2025
0
Lou Reed and the Velvet Underground Albums Ranked Worst to Best

It didn't take long for Lou Reed to outgrow the Beach Boys cash-ins he was making as a contract artist and songwriter and head toward more fertile land. By 1965, he had...

Read more
Next Post
‘Bachelor’Joey Graziadei Has Disagreement With Kelsey Anderson – Hollywood Life

‘Bachelor’Joey Graziadei Has Disagreement With Kelsey Anderson – Hollywood Life

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Browse by Category

  • Celebrity
  • Comics
  • DramaAlert
  • Gossip
  • Movie
  • Music
  • TV
  • Uncategorized
DramaWired

Browse the Latest Entertainment News on DramaWired.com. Celebrity News, Movies, Music, Gossip, Comics, TV and More News.

CATEGORIES

  • Celebrity
  • Comics
  • DramaAlert
  • Gossip
  • Movie
  • Music
  • TV
  • Uncategorized
No Result
View All Result

Recent News

  • ‘Shampoo Day With Grandma’ Is Helping Children—And Parents—Love Their Hair
  • Authenticity Over Imitation Tribeca Festival Programmer Portuguese Film
  • 15 Best Rock Song Collaborations of the 2000s

Copyright © 2023 DramaWired.
DramaWired is a content aggregator and not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Celebrity
  • DramaAlert
  • Gossip
  • Movie
  • TV
  • Music
  • Comics
  • Shop

Copyright © 2023 DramaWired.
DramaWired is a content aggregator and not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In