Sphere Stock Continues to Soar, Gaining 46% in Last 4 Weeks on ‘Wizard of Oz’ Success

Sphere Entertainment banal roseate 19.3% to $58.33 this week, marking its 4th consecutive play summation and the largest betterment successful that month-long run. Sphere shares person risen an astounding 46.3% successful the past 4 weeks. The banal reached an all-time precocious of $58.71 connected Friday (Sept. 12).

Sphere’s latest offering, a revamped The Wizard of Oz, has won implicit some audiences and Wall Street analysts. As Billboard noted connected Wednesday (Sept. 10), galore analysts person raised forecasts successful the aftermath of a stellar debut and beardown summons sales. The $2.3 cardinal venue requires a precocious level of utilization to beryllium profitable, meaning Sphere indispensable compression successful movie showings erstwhile it’s not hosting sold-out concerts by the likes of Backstreet Boys and The Eagles. Early results suggest the revamped The Wizard of Oz, which outgo upwards of $100 million, is performing amended than Sphere’s 2 erstwhile films, Postcards from Earth and V-U2. 

The 19-company Billboard Global Music Index (BGMI) roseate 1.0% to 3,061.29, putting its year-to-date summation astatine 44.1%. The bulk of euphony stocks ended the week successful affirmative territory, mirroring gains elsewhere successful the marketplace arsenic investors lifted stocks up of an expected involvement complaint cut by the U.S. Federal Reserve. 

The week’s biggest gainer was euphony streamer LiveOne, which jumped 29.5% to $0.57. On Thursday (Sept. 11), LiveOne raised its fiscal 2026 adjusted EBITDA guidance to $4.5 cardinal to $6 cardinal connected gross of $55 cardinal to $60 million. On Friday, the institution announced that its Bitcoin holdings transcend $5 million. 

Radio broadcaster and podcast institution iHeartMedia roseate 23.3% to decorativeness the week astatine $2.59. iHeartMedia shares roseate 9.2% connected Friday aft the institution announced an expanded concern and caller semipermanent statement with Bell Media successful Canada. iHeartRadio Canada is simply a concern betwixt iHeartMedia and Bell Media, giving the American institution organisation of its vigor stations and podcast contented successful the neighbour to the north. 

Live Nation shares roseate 6.3% to $173.73 connected Friday aft reaching a caller all-time precocious of $175.25 earlier successful the day. The spike followed Citi’s hike of its Live Nation terms people to $195 from $165 connected Tuesday (Sept. 9). Also this week, CFRA raised its Live Nation terms people by $26 to $196, citing “the outsized accidental for unrecorded amusement astir the globe” and the company’s efforts to physique arenas and theaters to seizure marketplace share. 

Universal Music Group (UMG) roseate 1.2% to 24.59 euros ($28.86). This week, Citi upgraded UMG to “buy” from “neutral” and accrued its terms people to 29 euros ($34.03) from 27 euros ($31.68).

Warner Music Group shares gained 2.8% to $33.62, lifting the stock’s year-to-date summation to 8.4%. On Wednesday (Sept. 10), Tigress raised its terms people to $45 from $44 owed to subscriber maturation and the company’s borderline expansion. 

Spotify, the BMGI’s largest azygous constituent with a marketplace capitalization of $142.6 billion, fell 1.5% to $696.40. Spotify shares are up 49.2% this twelvemonth but person fallen 12.7% since reaching an all-time precocious of $785.00 connected June 27. This week, the institution announced the motorboat of its long-awaited high-quality audio streaming offering. 

Many markets and indexes gained this week arsenic investors awaited a determination by the Federal Reserve and companies continued to denote affirmative news. Amidst rising ostentation and falling user sentiment, companies ranging from Six Flags Entertainment to Adobe no...