The 20-company Billboard Global Music Index rose 4.2%, with more than two-thirds of companies in positive territory.
The live entertainment company will break away from Sphere, MSG Networks and Tao Group Hospitality on April 20.
Streaming company LiveOne was the Billboard Global Music Index's greatest gainer after rising 13.1%.
After 40 years, the independent company's current roster includes Passenger, Syml, Banners, the Album Leaf and others.
TME says growth in subscriptions failed to offset a nearly 20% decline in its social entertainment services business.
Spotify shares' 4.5% improvement this week was the best of the 20 stocks in the Billboard Global Music Index.
In terms of both dollar and percentage increases, last year’s growth was the lowest since 2016.
The average number of paid subscriptions reached 92 million, helping buoy the industry to a seventh straight year of growth.
UMG also reported publishing revenues rose nearly 35% on the year.
The company now looks to tap a “robust pipeline” of music asset opportunities and add to its more than 100,000 copyrights.
