Live Music Stocks continue to fall faster than Markets
Live music stocks from Live Nation, Sphere Entertainment. and MSG Entertainment followed the markets downward Monday continuing their week long spiral.
Live Music Stocks Tumble
Solid 2025 growth estimates in recent music industry earnings reports have not been not enough to overcome overall market jitters caused by stubborn inflation, massive government layoffs, a looming trade war and an unpredictable President determined to rewrite the economic playbook.
Overall the Dow Jones Industrial Average dropped 890.01 points, or 2.08% Tuesday and the S&P 500
fell 2.7% as recession fears grew.
Live music stocks fell even further.
Live Nation Entertainment [NYSE: LYV] fell 11.0% last week $127.51 erasing year to date gains. That downward trend continued Monday falling another 3.8% in morning trading.
- At the close Monday, Live Nation was trading at $122.79 down another 3.70%
Sphere Entertainment [NYSE: SPH] lost 18.8% trading at $35.45 last week. On Monday morning it fell another 6.95%.
- At the close Monday, Sphere was trading at $32.81 down another 7.71%.
MSG Entertainment was down 7.7% to $31.86 last week. It faired slightly better Monday morning falling just 1.28% more.
- At the close Monday, MSG was trading at $189.72 down another 3.62%.
In contrast Universal Music Group and Warner Music Group shares were both up despite the overall market’s weak week.
Bruce Houghton is the Founder and Editor of Hypebot, a Senior Advisor at Bandsintown, a Berklee College Of Music professor and founder of the Skyline Artists Agency
