Spotify’s meteoric ascent gets more attention, but Chinese music streamers are having a strong 2025, too. Netease Cloud Music shares gained 9.8% to 240.20 HKD ($30.60) for the week ended June 13, raising the stock’s already substantial year-to-date gain to 114.1%. 

Cloud Music, China’s second-largest music streaming company, now has a market capitalization of $6.4 billion. That’s well behind rival Chinese streaming company Tencent Music Entertainment’s $31.6 billion, yet it ranks ahead of most K-pop companies (HYBE is valued at $9.1 billion). It also rivals SiriusXM’s $7.2 billion market cap.

For its part, Tencent Music Entertainment gained 2.6% to $18.42, bringing its year-to-date gain to 65.2%. This week, the company announced the acquisition of podcast company Ximalaya for $2.4 billion while Nomura raised its price target on the stock to $21.50 from $17.20, keeping its “buy” rating. 

Overall, though, music stocks had an unremarkable five trading days. The 20-company Billboard Global Music Index (BGMI) fell 0.2% to 2,922.69, a mild decline considering 14 of the 20 stocks lost value. That’s because many of the most valuable companies with the greatest impact on the index either gained or had small losses. Spotify, the BGMI’s single largest component, fell 0.2% to $710.72, lowering its 2025 gain to 52.3%. Universal Music Group, the index’s second-largest component, improved 2.0% to 27.91 euros ($32.25), bringing its year-to-date gain to 16.7%.

U.S. markets finished down this week after Israel and Iran traded military attacks. The Nasdaq composite fell 1.3% on Friday (June 13) and ended the week down 0.6% to 19,406.83. The S&P 500 dropped 1.1% on Friday to finish the week down 0.4% at 5,976.97. In the U.K., the FTSE 100 posted a narrow gain of 0.1%. South Korea’s KOSPI composite index jumped 2.9%. China’s SSE Composite Index dropped 0.2%. 

HYBE was one of the week’s best performers after gaining 4.0% to 296,000 KRW ($216.26). The company gained heavy press attention for the culmination of military service for BTS members Jimin and Jung Kook. Six of the group’s seven members have completed their mandatory military service, while Suga is expected to fulfill his service as a social worker later this month. BTS’s return to action could be good for HYBE’s share price. When BTS announced its hiatus in 2022, the company’s stock plummeted 27.5%. Since then, HYBE shares have doubled in value. 

Other K-pop stocks didn’t fare so well. SM Entertainment dropped 1.6% while both YG Entertainment and JYP Entertainment fell 2.2%. K-pop companies are seeing strong growth in 2025, though, with an average year-to-date gain of 56.9%.

Live Nation, the BGMI’s fourth-largest component, fell 4.1% to $138.18. This week, Wolfe Research increased its Live Nation price target to $168 from $160 and Susquehanna raised its price target to $165 from $155. Most other concert promoters also lost ground. CTS Eventim fell 3.4% and MSG Entertainment dropped 3.7%. However, Sphere Entertainment Co. rose 1.5%, narrowing its year-to-date loss to -10.0%. 

iHeartMedia was the week’s greatest gainer after jumping 10.7% to $1.66. The radio and podcast giant tends to have sizable swings — both positive and negative — from week to week. In 2025, iHeart’s share price has posted a weekly gain of 10% or more four times and a weekly loss of more than 10% on five occasions.

Abu Dhabi-based music streamer Anghami dropped 11.1% to $0.48, earning it the week’s largest decline and taking its year-to-date loss to -38.5%. That marks the seventh time in 2025 that Anghami shares have lost more than 5% in a week.