Although 14 of the 20 stocks in the Billboard Global Music Index lost value, it declined just 0.2% as many of the companies with the biggest impact fared well.
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 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.
The Chinese streaming platform says it bought $327 million worth of Universal's stock in mid-March, adding to a stake it had in UMG through a consortium of investors.
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.
