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Universal & Warner Music Shares Show Modest Gains Amid Stock Market Slide

Warner Music and Universal Muisc shares gained even as stock markets fell this week. Elsewhere, Spotify shares fell for a second consecutive week.

The two largest publicly traded record label and music publishing companies posted stock gains in a week that otherwise saw major indexes fall sharply. Analysts expect to see some “modest cost savings” from lower publishing royalties, a move that has sparked controversy in the music industry and attracted the attention of some U.S. lawmakers. What’s more, Guggenheim analysts do not expect a “significant portion” of premium subscribers to switch to the lower-cost “basic” tier following price increases for the standard plans.

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