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Tencent Music, Cloud Music Lead Music Stocks to New Record High
Tencent Music and Cloud Music, China's two largest music streaming companies, led the Billboard Global Music Index to a record 1,956.63.
The four leading South Korean music companies, which have all shed significant value in 2024, posted an average gain of 14.4%. Morgan Stanley on Tuesday told investors that SiriusXM faces the risk of “further multiple compression” due to a limited outlook for subscriber and revenue growth. In other words, if SiriusXM was valued at, say, 15 times earnings before interest, taxes, depreciation and amortization (EBITDA), its growth prospects might merit a lower multiple.
Or read this on Billboard