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Spotify, Warner Music, Live Nation Lead Music Stocks to New High
The Billboard Global Music Index rose 4.1% to a record 1,873.87 this week, bringing its year-to-date gain to 22.2% thanks to Spotify, Warner Music and Live Nation.
The Swedish music streaming giant was boosted by a report by Pivotal Research Group that from $460 and reiterated its “buy” rating. The concert promoter scored a win in Portland, Ore., this week after the city council upheld an August decision to allow the development of a 3,500-capacity music venue that will be operated by Live Nation. Analysts generally felt UMG set reachable financial targets and presented a believable roadmap about its strategy for the next four years.
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