News
Page: 211
Spotify continued its remarkable run this week by briefly surpassing a $100 billion market capitalization before falling slightly by the close of trading on Friday (Dec. 6). The company’s shares rose 4.5% to $498.63, marking the music streamer’s second-best closing price ever. The best closing price of $502.38 came on Wednesday (Dec. 4) when Spotify reached a new intraday high of $506.47, valuing the Swedish company at approximately $100.8 billion.
The $100 billion threshold arrived the same day Spotify launched its 2024 Wrapped, the personalized, data-driven product that breaks down listeners’ streaming time and ranks their most popular artists and tracks. Wrapped, first launched in 2015, has become both a major media event and an immensely successful product that listeners share incessantly on social media.
At Friday’s closing price, Spotify has gained 165.4% in 2024, making it the only music company to have a triple-digit gain. This improvement is three times higher than that of Live Nation, which has risen 46.1% this year. Cloud Music is close behind with a 44.2% gain year-to-date.
Trending on Billboard
With a valuation of more than double the next-largest music company, Spotify is a major driver of the 20-stock Billboard Global Music Index, which rose 2.8% to an all-time high of 2,280.51. That brings its year-to-date gain to 48.7%. Ten of the 20 stocks were gainers while nine lost ground and one was unchanged. Radio companies, buoyed by iHeartMedia’s 14% gain, led the way with an average gain of 5.9%. Streaming companies posted a 4.4% average gain. Live music companies were essentially flat. Multi-format companies (record labels, music publishers) fell 2.1% on average.
Most other streaming companies were gainers this week. Tencent Music Entertainment rose 10% to $11.54. Cloud Music increased 9.7% to 129.40 HKD ($16.63). LiveOne jumped 6% to $0.88. Deezer improved 2.9% to 1.37 euros ($1.45). Abu Dhabi-based Anghami fell 6.8% to $0.73.
On the live front, MSG Entertainment improved 1.6% to $36.26 this week. The company announced on Tuesday (Dec. 3) that it spent $25 million repurchasing its Class A common shares due to their price “relative to the company’s long-term growth potential.” Elsewhere, Live Nation fell 1.1% to $140.26 while Sphere Entertainment Co., which announced additional Dead & Company dates this week, fell 5.1% to $40.27.
In other noteworthy stock moves this week, HYBE dropped 3.2% to 214,000 won ($150.15) after news broke that South Korean authorities are investigating chairman Bang Si-hyuk for possible violations of the country’s Capital Markets Act. The move came after a report claimed Bang had a secret agreement with shareholders prior to HYBE’s initial public stock offering that gave him a $285 million profit when the company went public in 2020. HYBE shares fell 6.7% over the two trading days following the news report but recovered more than half its losses later in the week. Other K-pop stocks fell in unison with HYBE. JYP Entertainment dropped 5.2%, YG Entertainment lost 5.8% and SM Entertainment sank 7.5%.
Elsewhere, stocks were mostly up globally. In the United States, the Nasdaq composite rose 3.3% and the S&P 500 gained 1%. In the United Kingdom, the FTSE 100 improved 0.3%. China’s Shanghai Composite Index grew 2.4%. Dragged down by political turmoil, South Korea’s KOSPI composite dropped 1.1%.
As we build toward the 2024 Billboard Music Awards on Dec. 12 and Billboard’s Year-End Charts reveal on Dec. 13, check out our editorial list of staff picks for the best K-pop songs of the year.
As more and more K-pop artists break the genre and cultural barriers that can divide listeners, the Korean music industry grew its visibility and expanded its experimental nature this past year, resulting in greater opportunities for the scene at large while gifting global audiences some undeniably special singles.
In line with trends since the start of the decade, girl groups continued to dominate the singles space as (G)I-DLE, fromis_9, aespa, NewJeans and ILLIT delivered inescapable hits, alongside beloved troupes like Red Velvet, ITZY, Dreamcatcher and Kep1er, who delivered some of the best songs of their career.
K-divas BIBI, Lee Young Ji and K-pop’s standout rookie boy band TWS delivered singles that became mainstays on the charts and across social media. Elsewhere, Lim Young Woong, PENTAGON’s Hui, ATEEZ, Loossemble and ARTMS all stepped up to new moments of musical greatness with creative curveballs that defied expectations but delighted all kinds of audiences.
From the nostalgic reunion of BIGBANG’s leader G-Dragon enlisting his bandmates Taeyang and Daesung for “Home Sweet Home” to the rookie girl group that made Billboard Hot 100 history this year, not to mention a track that samples Afrika Bambaataa and the Afrobeat-infused flair of KISS OF LIFE’s “Sticky,” this year’s best K-pop songs boast some of the most eclectic, exciting tunes in recent history.
While the Korean music industry continues to expand its global reach, with many of its artists releasing English singles or tracks explicitly aimed at the Western pop market, this list focuses on the songs released with Korean lyrics or with core K-pop audiences in mind (as much as we loved bops from the likes of Jimin, AleXa, BABYMONSTER, the BLACKPINK members and many, many more).
With some of the best boy bands, greatest girl groups, specially selected soloists, plus one dynamic duo, dive into the complete list to experience the finest K-pop songs of 2024. And check out our list of the 25 Best K-Pop Albums of 2024, too.
Kep1er, “Shooting Star”
BTS’ V is in the holiday spirit as he dropped his rendition of “White Christmas” with Bing Crosby. Keep watching to hear a snippet of his version and to see what other BTS members have done for the holiday season! Tetris Kelly: One of our favorite crooners is bringing the Christmas spirit. We’re discussing V’s […]
HipHopWired Featured Video
Many in the A long for the days that the trio known as The Migos ran the rap scene with their hits and catchy cuts and while we will never experience that threesome again (R.I.P Takeoff), Quavo recruits two other Georgians for his latest offering.
Linking up with Luke Bryan and Teddy Swims for the visuals to “Georgia Ways,” Quavo and company take to the woods to get some fishing done, build a bond fire and ride from ATV’s through the mud like some country boys looking to have a good ol’ time. Leave it to Quavo to be iced out in the woods for no reason. Maybe the diamonds attract the fish or something.
The father/son duo known as Big Hit and Hit-Boy meanwhile continue to keep the family business alive and in their clip to “Bigger Than Life” the Hit men shine together while showing how they live their lives on different planes. You gotta love this.
Check out the rest of today’s drops including work from K Camp, OT The Real, and more.
QUAVO, LUKE BRYAN & TEDDY SWIMS – “GEORGIA WAYS”
BIG HIT & HIT-BOY – “BIGGER THAN LIFE”
K CAMP – “CONSEQUENCES”
OT THE REAL – “NAKED”
TERMANOLOGY & TEK FT. FLASH IS HIP HOP – “BOOM BAP OR DIE”
RODDY RICCH FT. TERRACE MARTIN – “LONELY ROAD”
BURGA – “BODIES/I NEED SOMEBODY”
SIZZLA – “SHINE THE LIGHT”
Idols, rookies and global stars all made our list.
The West Coast rapper is enjoying the looks he’s had this year. First, AzChike was featured on ScHoolboy’s Q‘s critically acclaimed album Blue Lips, which essentially worked as a solo track/interlude on the song “Movie”. Chike then made another scene-stealing appearance on Kendrick Lamar‘s GNX on the song “peekaboo”. During a recent interview with Brown Bag […]
Watch Mustard share his start in music and how collaboration brings together greatness, exclusively for Billboard and Honda Stage. Mustard:The music is collaborative, you know, like, how I think is one way and how the next person may think is another way. And you put two great minds together, you know, you come out with […]
HipHopWired Featured Video
Source: Brandon Bell / Getty / Elon Musk / Donald Trump
Elon Musk was not pinching pennies during the presidential election. The Tesla Chief donated a lot of money to ensure Donald Trump slimed his way back into the White House.
NBC News reports that Musk donated over $20 million to a mysterious super PAC at the end of Felon 47’s campaign as part of the $250 million he spent to help make America racist again; oops, we meant “great” again, according to new finance reports.
Per NBC News:
Musk financed RBG PAC, according to the report the group filed Thursday night with the Federal Election Commission. The super PAC, which did not disclose its donors before the election, launched ads contending that Trump did not support a federal abortion ban.
All of the money the group pulled in — $20.5 million — came from a single donation from the Elon Musk Revocable Trust in Austin, Texas. RBG PAC spent almost all of its money on digital ads, mailers and text messages, according to the campaign finance report, which covered Oct. 17 through Nov. 25.
The news website also reports that Musk donated $238 million to the America PAC throughout the election cycle, including an extra $120 million in the election’s final weeks.
We Can’t Forget About Those $1 Million Giveaways
According to federal disclosures, America PAC used the money for canvassing and get-out-the-vote efforts via text message, printing, postage, and digital ads. America PAC also ran a controversial $1 million giveaway that saw Musk hand checks to people who signed up for the PAC’s heavily conservative-leaning petition.
Philadelphia District Attorney Larry Krasner sued Musk and the PAC in late October to stop the giveaway. Still, a judge in the state sided with Musk and America PAC, allowing them to continue with the giveaway.
The Justice Department also warned America PAC that the giveaway was damn near close to being illegal, but subsequently, no action was taken by the department.
According to America PAC’s finance report, the $1 million bribes, oops, we mean prizes, were listed as payments for a “spokesperson consultant.”
Bootleg Tony Stark also gave $3 million to the MAHA (Make America Healthy Again) Alliance, a super PAC affiliated with Donald Trump’s pick to run HHS, Robert F. Kenndey Jr.
So, Musk, who Sweet Potato Mussolini tapped to run the made-up Department of Government Efficiency (DOGE) to help cut government spending, spent a lot to ensure he had plenty of influence when President-Elect Trump took office.
We see the jig.
It looks like Britney Spears is staying put — for now. After telling fans that she was moving out of the United States to Mexico to escape “cruel” paparazzi, The Hollywood Reporter has confirmed that the pop star actually isn’t taking the leap, according to a source. Spears had told fans in an Instagram video […]
ROSÉ has finally dropped her highly anticipated solo debut album ‘rosie.’ Keep watching for a breakdown of her newest work! Tetris Kelly: Her and Bruno have had us all singing “APT” and now ROSÉ has arrived with her full project. We break it down in this week’s Music You Should Know: ‘rosie.’ “APT” with Bruno […]