You can feel the schadenfreude emanating from the offices of major music publishers. On Thursday, Peloton, which is an exercise equipment and media company that has been embroiled in a contentious lawsuit with music publishers, raised $1.16 billion in …
Category archives: Wall Street
Endeavor Aims to Raise $700MM+ In Its Upcoming IPO
Earlier today, Endeavor Group Holdings, which controls one of Hollywood’s biggest talent agencies, announced the price of its initial public offering (IPO). The company is pricing shares somewhere between $30 and $32. With more than 19 million Class A…
Tencent Music Entertainment Q2 Earnings Disappoint Wall Street
Why is Wall Street so unhappy with Tencent Music Entertainment? Despite the fact that revenues surpassed estimates — having come in at 10 cents per share, more than the nine cents per share that experts expected — Tencent Music Entertainment’s stock to…
Live Nation Shows Off Healthy Q2 2019 Earnings — And Says Smaller Artist Tours Are Booming
Live Nation has posted encouraging Q2 2019 profits — and Wall Street is taking notice. Having secured earnings equal to $.41 per share during the second quarter of 2019, Live Nation was able to top the $.39 per-share earnings that experts predicted. It…
No Spotify or Slack Here — iHeartMedia’s Shares Fall as Much as 7% on Its First Day on NASDAQ
Emerging from bankruptcy, iHeartMedia returned to Wall Street yesterday morning. Unfortunately, the nation’s largest radio broadcaster wasn’t exactly welcomed with open arms. Now trading under “IHRT” on NASDAQ, investors swiftly punished the stock shor…
7digital’s CEO and CFO Exit as Dire Financial Situation Continues
7digital CEO John Aalbers has stepped down as director and CEO of 7digital. He joined the B2B digital music platform less than four months ago. CFO Julia Hubbard is also departing the company, effective immediately. The move was cited as a cost-cuttin…
iHeartMedia Withdraws Its Estimated $1.5 Billion Public Offering
iHeartMedia has withdrawn its IPO in favor of a NASDAQ listing. Instead of the expected IPO, iHeartMedia has received approval from NASDAQ to be listed and traded on the stock exchange. The Class A stock is expected to be listed on July 18th, and its s…
Guggenheim Partners Is Extremely Bullish on Spotify’s Podcast Expansion, Citing App Install Increases
While Spotify struggles to become a profitable company, a number of Wall Street analysts see podcasts as a safe bet. Spotify’s most recent financial results emphasized just how much of a focus podcasts will have in the company’s future. Spotify plans t…
YG Entertainment’s Stock Falls Following iKON’s Drug-Fueled Scandal
Shares of YG Entertainment slipped on news that K-Pop star Kim Hanbin — founder of iKON — is leaving after a drug scandal. The 22-year-old star made the announcement today after reports surfaced that the singer had purchased marijuana and LSD in 2016. …
BTS Agency Big Hit Entertainment Valued at More than $1 Billion
Not only is K-pop band BTS hitting it big, but so is the agency that represents them. Just recently, Big Hit Entertainment was valued at more than $1 billion — on the low end. The Hyundai Research Institute has estimated that Big Hit was worth somewher…