Investors reacted to the company’s overall streaming revenue growth of just 4.1%, which was down from 11% a year earlier, and a sharp slowdown in subscription growth.
The Billboard Global Music Index fell 2.7% to 1,779.41, lowering its year-to-date gain to 16.0%.
The Billboard Global Music Index dropped 0.9% to 1,828.20 this week as some of its most valuable stocks lost ground.
The Billboard Global Music Index (BGMI) rose 1.6% to 1,844.87, bringing its year-to-date gain to 20.3%.
The Billboard Global Music Index was effectively flat this week despite 12 of the 20 stocks gaining ground.
The Billboard Global Music Index fell 0.3% to 1,814.88, bringing its year-to-date gain to 18.3%.
The 1-for-10 stock split reduces the number of shares in hopes of boosting the company's stock when it merges with Liberty Media's tracking stock later this year.
The tender offer ends Friday (June 21) for shares of the owner of TuneCore, Sentric Music Publishing and a host of record labels.
The Billboard Global Music Index rose 1.1% to 1,820.01, bringing its year-to-date gain to 18.7% — better than the Nasdaq's 17.8% gain and the S&P 500's 13.9% improvement.
The Billboard Global Music Index rose just 0.1% as 13 of its 20 stocks lost ground this week.
