Spotify accounted for 36% of Billboard’s Global Music Index’s year-to-date value decrease.
The Ledger is a weekly newsletter about the economics of the music business sent to Billboard Pro subscribers. An abbreviated version of the newsletter is published online.— have dropped 44.2% as of Oct. 5, far outpacing the declines elsewhere in the market. For comparison, over that same time span, the New York Stock Exchange composite index fell 16.9%, the S&P 500 fell 20.6% and the tech-heavy Nasdaq sank 28.7%.
that BTS members could soon face mandatory enlistment in the South Korean military, HYBE’s share closed at KRW 123,000, down 6.1%, and fell as low as KRW 121,000. That’s a new all-time low, 71.3% below the all-time high of KRW 421,500 set on Nov. 17, 2021. In contrast, shares of SM Entertainment, whose acts include SuperM and NCT 127, the other K-pop company in the Global Music Index, have fallen only 9.8% in 2022.
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