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Spotify Soars: Music Stocks Hit Record Highs

6/28/2025

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Summary

Story summary

Music stocks, led by Spotify, hit record highs, closing at $772.60, a 9.2% weekly increase.
Guggenheim and UBS increased Spotify's price targets, indicating strong growth potential despite lower revenue forecasts.
The Billboard Global Music Index surged 9.1%, achieving its second-largest weekly gain in nearly three years.
While most music stocks rose, K-pop companies and iHeartMedia experienced declines.

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Story summary

Music stocks, led by Spotify, hit record highs, closing at $772.60, a 9.2% weekly increase.
Guggenheim and UBS increased Spotify's price targets, indicating strong growth potential despite lower revenue forecasts.
The Billboard Global Music Index surged 9.1%, achieving its second-largest weekly gain in nearly three years.
While most music stocks rose, K-pop companies and iHeartMedia experienced declines.