The largest music and entertainment companies have so far reported strong first quarter earnings to mixed investor reception.
Streaming giant Spotify and the world’s biggest music company Universal Music Group (UMG) beat expectations on most metrics but their share prices fell by 13% and 9% respectively in the days after their results, as investors were disappointed in Spotify’s operating income forecast, AI and marketing investments and UMG’s lighter-than-last-year release slate. (UMG got a piece of BTS’s first studio album in five years, ARIRANG, however last year, they put out hit albums from Kendrick Lamar, Sabrina Carpenter, The Weeknd and more.)
South Korea’s HYBE reported record-setting revenue thanks to BTS, with the album and world tour helping making this the company’s highest-ever Q1 revenue. Live Nation’s stock rose 8% following a near-tie with its highest-ever quarterly revenue, and Sphere Entertainment Co.’s stock rose 4% as its immersive adaptation of The Wizard of Oz continued to sell tickets for days when the 20,000-seat venue didn’t have a blockbuster residency.
Meanwhile, SiriusXM stemmed the loss of subscribers with family plan subscriptions, price hikes and increased advertising revenue from Pandora.
Of course, those are just the music companies that have reported so far. Warner Music Group, Sony Music Group and Madison Square Garden report later in the first full week of May.
For now, here’s a list, in alphabetical order, of the music companies that have released earnings results (as of May 6) for the quarter ending March 31, 2026. We will update the list as more companies report.