Buzz surrounding the return of Dorothy, Tin Man, Scarecrow and Cowardly Lion could have helped make Sphere Leisure Co. the best-performing music inventory for the week ended Aug. 29. Sphere Leisure shares rose 6.8% to $45.35 in an in any other case muted week for music shares.
On Thursday, the Sphere venue in Las Vegas debuted — to each constructive and unfavourable critiques — its revamped model of the 1939 movie The Wizard of Oz. The premiere was prefaced by a heavy nationwide media marketing campaign that confirmed each the love for the 1939 unique movie and curiosity in regards to the state-of-the-art, multi-sensory venue. By Aug. 12, Sphere had bought 120,000 tickets for The Wizard of Oz — at over $100 every — and executives anticipated to have bought 200,000 tickets by Thursday.
Sphere Leisure shares have gained 13.7% within the final two weeks, turning a 5.1% year-to-date loss right into a 6.8% acquire this 12 months. Other than the eye gained by The Wizard of Oz, the venue has racked up some wins in latest months. The Sphere not too long ago concluded a Kenny Chesney residency in June and can start with a Zac Brown Band residency in December. As well as, the venue added 14 extra Backstreet Boys performances to increase the group’s well-received run into February 2026.
The Billboard World Music Index (BGMI), a float-adjusted index of 19 publicly traded music corporations, fell 1.5% to 2,979.62 in its second consecutive weekly decline. (The index initially had 20 shares, however Consider was taken non-public and now not trades on the Euronext Paris alternate.) With a majority of music shares within the purple this week, the index’s year-to-date acquire dropped to 40.2%.
U.S. indexes fell as core U.S. inflation, which excludes meals and power prices, rose to 2.9% in July, the best degree since February. The Nasdaq composite fell 1.6% to 21,142.01 and the S&P 500 dropped 0.1%. Worldwide indexes had been combined. The U.Okay.’s FTSE 100 fell 1.4% to 9,187.34 however South Korea’s KOSPI composite index rose 0.5% to three,186.01 and China’s Shanghai Composite Index improved 0.8% to three,857.93.
Apart from Sphere Leisure, solely three shares had features above 1%: Cumulus Media (up 6.3%), Anghami (up 4.1%) and MSG Leisure (up 3.5%). Three of probably the most beneficial music corporations had features of lower than 1%: SiriusXM (up 0.8%), HYBE (up 0.5%) and Dwell Nation (up 0.5%).
With most music shares shedding floor this week, the BGMI was dragged down by the losses of its three most dear music corporations. Spotify fell 1.5% to $682.34, taking the inventory 13.1% beneath the all-time excessive of $785.00 set on June 27. Common Music Group dropped 2.7%, bringing its year-to-date acquire to 1.0%. And Tencent Music Leisure sank 3.2% to $24.53, though a blistering first half of 2025 has helped put the refill 120.0% this 12 months.
Two Okay-pop corporations had been among the many week’s worst performers. SM Leisure fell 3.9% to 138,800 KRW ($99.82) and JYP Leisure was down 5.6% to 72,700 KRW ($52.29). The largest loser of the week was music streamer LiveOne, which fell 8.3% to $0.55 and prolonged its year-to-date loss to 59.9%.
Billboard
Billboard
Billboard
