Spotify peaked at $717.87 on Thursday (June 5) and finished the week up nearly 53% in 2025.
The K-pop company's stock declined 6.8% for the week ended May 30 as the 20-company Billboard Global Music Index was unchanged.
The 20-company Billboard Global Music Index gained 0.2%, its seventh consecutive weekly gain.
The Billboard Global Music Index rose 3.1% to an all-time high of 2,794.37, surpassing the previous record of 2,755.53 set on Feb. 14.
Warner Music Group shares fell 9.6% this week following the company's quarterly earnings release on Thursday (May 8).
Universal Music Group, Spotify, Live Nation and Deezer also posted gains following their quarterly earnings reports.
Cumulus Media shares fell 16% after the company announced it would be de-listed from the Nasdaq exchange.
The radio broadcaster's stock has closed under $1 per share since Nov. 1 and earned de-listing warnings in December and March.
Cloud Music shares rose 10.5%, leading the Billboard Global Music Index’s 3.6% increase this week.
The consortium that took Believe private in 2024 will bid 15.30 euros ($17.40) per share for the remaining 3.3% of outstanding shares.
