While many music stocks rebounded after the U.S. Treasury paused tariffs for 90 days, only Live Nation has posted a gain over the last two chaotic weeks.
iHeartMedia, which was one of eight music stocks to drop more than 10%, fared the worst with a 26.8% decline.
Nearly all music stocks fell on Thursday (April 3), with the radio and live music sectors hit particularly hard.
Korean companies fared well even as the 20-company Billboard Global Music Index fell 2.9% due mainly to declines by Spotify, Warner Music Group and CTS Eventim.
The Chinese streaming company gained 11.6% as the 20-company Billboard Global Music Index rose 3.0% to 2,533.53.
The company's shares dropped on major shareholder Pershing Square’s plan to sell 50 million shares, capping off a rough week for most music stocks.
The sale on the Euronext Amsterdam exchange is separate from Pershing Square’s plan to force a listing on a U.S. exchange.
Universal Music Group and Warner Music Group shares gained following the former’s fourth-quarter earnings release on Thursday (March 6).
iHeartMedia shares had slipped nearly 28% since the company announced its fourth-quarter earnings on Feb. 27.
K-pop stocks fared well in a week when most stocks on the Billboard Global Music Index, which lost 2.3%, were down amid a rough period for markets overall.
