Spotify rode a wave of post-election enthusiasm to close above $400 for the first time on Friday (Nov. 8), valuing the music streaming giant at nearly $80.5 billion. Before ending at $400.68, up 4.1% over the week, the company’s stock reached an all-time high at $405.88.

The stock price of the Stockholm, Sweden-based company rose 113% in 2024 as the company overtook Universal Music Group (UMG) as the most valuable music company. When investors began to tire of high-growth, unprofitable streaming companies, Spotify suffered two major waves of layoffs in 2023, helping to drive down costs. without sacrificing subscriber growth or revenue. With the release of third-quarter results on Tuesday, November 12, Spotify will show whether it has maintained this momentum. At least one analyst is optimistic about the results: Deutsche Bank raised its Spotify price target from $430 to $440 on Wednesday.

US stock markets rose this week following the election of Donald Trump the decision of the American Federal Reserve, Thursday, November 7, to lower interest rates by a quarter of a percentage point. On Friday, the Nasdaq Composite Index closed at an all-time high of 19,286.78, up 5.7%. The S&P 500 gained 4.7% to close at a record high of 5,995.54. China’s Shanghai Composite Index rose 5.5% to 3,452.30. South Korea’s KOSPI composite index improved just 0.7 percent to 2,561.15. In the UK, the FTSE 100 index fell 1.3% to 8,072.39.

The 20-company Billboard Global Music Index gained 2.4% to an all-time high of 2,043.02, bringing its year-to-date gain to 33.2%. The index had 13 stocks in positive territory while six lost ground and one remained unchanged.

The week’s biggest music stock was iHeartMedia, which jumped 16.7% to $2.44 after the company announcement it will restructure much of its expiring debt and plans to save $200 million in 2025 through cost reductions and technology adoption. “Technology is the key to increasing our operating leverage and is an ongoing priority for us,” CEO Bob Pittman said Thursday during an earnings call. “This allows us to speed up processes, streamline existing systems and it allows our people to create more, better and faster.” Shares of iHeartMedia are down 8.6% year to date but are up 180% since May 24.

LiveOne gained 15.6% to $0.89 per share after the music streamer said its revenue rose 14% to $32.6 million and paying members increased 27% to 645,000. during his campaign. second fiscal quarter ended September 30. Reservoir Media was another big gainer, improving 9.1% to $9.00.

Live, Live Nation shares rose 5.1% to $123.02 following a post-election boost. The concert organizer is currently facing a lawsuit from the US Department of Justice, but could find a better outcome thanks to new appointments made by the Trump administration. The election wasn’t the only reason for the stock’s rise: Morgan Stanley raised its price target from $120 to $140, based on a “combination of strong underlying consumer demand and powerful incentives for artists to tour,” analysts wrote in a note to investors Tuesday. Deutsche Bank also increased its Live Nation price target from $122 to $130.

K-pop stocks surged this week despite HYBE and SM Entertainment both reporting sharp declines in profit last quarter, partly due to weak recorded music revenue. HYBE shares jumped 6.4% after the company reported a 99% drop in net income. Similarly, SM Entertainment gained 7.2% in the same week the company reported a 96% drop in quarterly net profit, following a 9% drop in revenue and a 36% decline in music revenue. recorded. Investors may have gained optimism following SM Entertainment’s announcement of the launch of a new girl group – the first since aespa debuted five years ago – in 2025 with the release of a single and an album in the first quarter.

JYP Entertainment, which has yet to announce its quarterly results, jumped 12.6%, and YG Entertainment continued its hot streak, rising 6.3% and bringing its gain over the past three weeks to 17.6 %. YG benefited from the success of “APT” in PINK featuring Bruno Mars. The song is currently in its second week at the top of the Billboard Global 200 and the Billboard Global Excl. American maps.

Shares of Tencent Music Entertainment (TME) rose 2.4% to $11.39 ahead of the company’s third-quarter earnings release on Tuesday (Nov. 12). Bernstein initiated coverage of TME with a price target of $14. Barclays initiated coverage with an “overweight” rating and a price target of $16.

German concert promoter CTS Eventim was the week’s worst-performing music stock, falling 10.4 percent to 87.70 euros ($94.05). The company will report its third quarter results on November 21. Elsewhere, Cumulus Media fell 6.4% to $0.88, adding to the previous week’s 19% decline, while SiriusXM fell 5.5% to $26.13.