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In a banner week for music stocks, record labels and music publishers posted gains after Universal Music Group UMG signed a new licensing deal with Spotify and Amazon announced further price increases for its music streaming service.
UMG gained Trending on Billboard. Spotify rose another 7. Music stocks have produced strong gains just one month into the new year. Just 31 days into , the index is up Aside from Spotify, other streaming companies posted large gains. Chinese music streaming company Cloud Music also improved, with its stock up 8. Paris-based Deezer rose 9. Abu Dhabi-based Anghami improved 4. SiriusXM rose 9. Sphere Entertainment Co. Daily newsletters straight to your inbox.
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