Spotify led all music stocks this week with a 13.6% gain after its fourth-quarter earnings results on Tuesday (Feb. 4) showed that the company posted its first-ever net profit. The streamer’s share price reached an all-time high of $632.41 on Friday (Feb. 7) before closing at $622.99, slightly lower than its closing prices on Wednesday ($626.00) and Thursday ($625.87). Fewer than six weeks into 2025, the Swedish streaming company’s stock has risen 39.3%.

With 203.8 million shares outstanding, according to its 2024 annual report released this week, Spotify’s market capitalization briefly reached $128.9 billion. A week ago, Spotify was worth nearly as much as the three major music groups. As of Friday, after gaining another 13.6%, Spotify is worth more than Universal Music Group (UMG), Sony Music and Warner Music Group (WMG) combined.

Guggenheim was among a host of analysts to increase its Spotify price target, raising the streaming company’s shares to $675 from $520 and increasing its forecast for 2025 operating income to 2.61 billion euros ($2.7 billion) from 2.46 billion euros ($2.54 billion). Others that raised their price targets for Spotify were Evercore ISI (to $700 from $500), Morgan Stanley (to $670 from $550), DA Davidson (to $680 from $350) and Deutsche Bank (to $700 from $550).

Led by Spotify, the 20-company Billboard Global Music Index (BGMI) rose 7.7% to a record 2,635.41, bringing its year-to-date gain to 24.0%. The index’s most valuable companies were among the 13 gainers while the seven companies that lost ground have relatively small market capitalizations. In contrast to music stocks’ gains, major indexes were muted this week. In the U.S., the Nasdaq composite index and S&P 500 fell 0.5% and 0.2%, respectively. In the U.K., the FTSE 100 rose 0.3%. South Korea’s KOSPI composite index gained 3.0%. China’s SSE Composite Index was up 1.6%.

Chinese music streamer Cloud Music had the week’s second-best performance, rising 6.6% to 130.30 HKD ($16.73). SiriusXM was third-best after rising 6.0% to $25.44. Another Chinese music streaming company, Tencent Music Entertainment, improved 4.7% to $12.54. And K-pop companies all fared well: SM Entertainment was up 4.9%, HYBE improved 4.2% and JYP Entertainment rose 3.6%.

While record labels and publishers have benefitted from Spotify’s price increases, their stock prices haven’t followed the same trajectory. WMG gained 2.9% to $32.72 following its quarterly earnings report on Thursday (Feb. 6) and is up 5.5% year to date. Reservoir Media, which released earnings on Wednesday (Feb. 5) and raised its full-year guidance, closed the week down 4.2% to $7.96 and has lost 12.0% in 2025. UMG, which will announce its fourth-quarter earnings on March 6, rose 0.1% to $26.98 and is up 9.1% year-to-date.

MSG Entertainment gained 1.1% to $36.73. On Thursday (Feb. 6), the concert promoter reported that revenue increased 1% to $407.4 million and adjusted operating income improved 2% to $164 million in the fiscal second quarter ended December 31, 2024. Event-related revenue fell $22.5 million due to lower revenue from concerts and a drop in other live entertainment at the company’s venues.

LiveOne had the largest decline of the week, falling 19.3% to $1.17. The music streaming company will announce earnings on Feb. 14.

Nick Cave and the Bad Seeds, PJ Harvey, Yeah Yeah Yeahs, DEVO, Primal Scream, and more have joined forces for Los Angeles Rising, a new benefit album raising funds for musicians affected by the recent LA wildfires.

Spearheaded by Kevin Haskins of Bauhaus and Love and Rockets, along with producer Nick Launay, the compilation features previously unreleased tracks from some of alternative music’s most influential artists. All proceeds from the album will go directly to Sweet Relief, a non-profit organization that provides financial assistance to career musicians in need.

The album, which is available exclusively on Bandcamp, includes a reimagined version of “California Dreamin’” by Jarvis Cocker, an alternate take on Yeah Yeah Yeahs’ “Turn Into” from Show Your Bones, and a new track from Nick Cave and the Bad Seeds titled “Michelangelo.” Primal Scream contributed an orchestral version of their song “False Flags,” while Danny Elfman added his own surreal spin with “Monkeys on the Loose.” DEVO, Gary Numan, and Flea also feature on the 16-track compilation.

Haskins and Launay, both longtime LA residents, were personally affected by the fires and said the project came together quickly as they watched the devastation unfold.

“As the wildfires were raging and destroying thousands of homes around Los Angeles, both my neighborhood and Nick’s were instructed to evacuate. But we were the lucky ones,” Haskins said in a press statement. “The fire threatening our homes and recording studios was thankfully extinguished by firefighters just minutes away, but countless musicians and friends lost everything.”

Launay added, “This harrowing experience and witnessing the monumental destruction of entire communities inspired Nick and I to team up to create a compilation album to raise money for the less fortunate. We reached out to our musician friends for unreleased recorded gems and the response was incredible! PJ Harvey, Nick Cave, Jarvis Cocker, Primal Scream, Gary Numan, and Devo are just some of the artists that rushed in to help.”

“Nick and I were lucky. We had to evacuate, but our homes and studios survived,” Haskins said in a statement. “So many musicians we know lost everything.” The two reached out to artists who had worked with them over the years, asking if they had unreleased tracks that could help raise money. “The response was incredible,” Launay added. “These musicians didn’t hesitate to contribute to something that could directly help their peers.”

The album arrives amid a broader industry-wide effort to support wildfire relief. Bandcamp recently announced that all proceeds from purchases made on Feb. 7 would be donated to MusiCares, while a separate benefit album—featuring contributions from R.E.M., Death Cab for Cutie, The Postal Service, and more—is also in the works.

Los Angeles Rising is available now on Bandcamp, with vinyl pressings and limited-edition merchandise set to be released later this month. As wildfires continue to impact communities across California, the music industry is once again proving its ability to rally support when it’s needed most.

Pardison Fontaine and Cardi B dropped their highly anticipated “Toot It Up” collab on Friday (Feb. 7) via Hitmaker Music Group.

“You guys keep asking for ‘Toot It.’ Where’s ‘Toot It’? Where’s ‘Toot It’ at? Can we get ‘Toot It’? Here go the song, here go ‘Toot It.’ Take it, play it, do whatever y’all gon’ do with it, shake ass. Here go the song, don’t ask for that sh– no more,” he said in an Instagram video earlier this week with the caption “it’s BEEN 8 YEARS @iamcardib GET THIS SONG OFF MY HARD DRIVE!!! N THEY KEEP ASKING FOR THIS !!! IM DROPPIN IT 2/7!!!!”

The last time the two properly collaborated on a song was in 2018 with “Backin’ It Up,” and they performed it together at the 2018 BET Hip Hop Awards. It reached No. 40 on the Billboard Hot 100 and reached the top 20 of Hot R&B/Hip-Hop Songs (No. 18) and Rhythmic Airplay (No. 11). Pardi has co-written several hits for Cardi, including her 2017 breakthrough smash “Bodak Yellow,” her other Hot 100 No. 1s “I Like It,” featuring Bad Bunny and J Balvin, “WAP” with his ex Megan Thee Stallion and “Up,” and much of her 2018 Grammy-winning debut album Invasion of Privacy. He teased them being back in the studio together last April on Instagram.

“Toot It Up” isn’t the only new music Cardi has on the way. On Thursday (Feb. 6), the trailer for the new Smurfs movie teased the “Higher Love” track by Desi Trill featuring DJ Khaled, Cardi B, Natania and Subhi.

Listen to “Toot It Up” below.

Heavy metal pioneer Ozzy Osbourne has revealed he can no longer walk as he heads towards his final live performance.

The 76-year-old made the admission on his SiriusXM program Ozzy’s Boneyard, where he discussed what fans might be able to expect from his recently-announced farewell show.

“I have made it to 2025. I can’t walk, but you know what I was thinking over the holidays? For all my complaining, I’m still alive,” he said. “I may be moaning that I can’t walk, but I look down the road, and there’s people that didn’t do half as much as me and didn’t make it.”

On Wednesday (Feb. 5), Osbourne announced his final live performance, which will take place at his hometown of Birmingham, England on July 5. The biggest headline is the inclusion of Black Sabbath, who will play their first show since Feb. 2017, and their first with the band’s original lineup since 2005. 

Dubbed ‘Back to the Beginning’, the high-profile event will also include performances from Metallica, Slayer and Anthrax, as well as the likes of Pantera, Lamb Of God, Mastodon, Alice In Chains, Halestorm and recent Grammy Award-winners Gojira.

Songwriter and former Rage Against the Machine guitarist Tom Morello, meanwhile, will serve as music director for “Back to the Beginning.” In a press release, he described the upcoming gig as set to be “the greatest heavy metal show ever.”

The event is also described as a charitable affair, with profits going towards the likes of Cure Parkinson’s, a U.K. charity working to end the disease which Osbourne was diagnosed with in 2019.

Speaking to the BBC, Osbourne’s wife and manager Sharon explained that the show was a chance for Osbourne to end a career which has been affected in recent years by numerous cancellations and health issues.

“He’s doing great. He’s doing really great,” she said. “He’s so excited about this, about being with the guys again and all his friends. It’s exciting for everyone.”

“Ozzy didn’t have a chance to say goodbye to his friends, to his fans, and he feels there’s no been no full stop. This is his full stop.”

In another interview with The Sun, Sharon added that Ozzy would be match-fit for the highly-anticipated event despite his ill health.

“He’s very happy to be coming back and very emotional about this,” she said. “Parkinson’s is a progressive disease. It’s not something you can stabilize. It affects different parts of the body and it’s affected his legs. But his voice is as good as it’s ever been.”

Following Cindy Mabe’s departure as CEO/chairman of Universal Music Group Nashville (UMGN) earlier on Thursday (Feb. 6), parent company Universal Music Group has appointed Mike Harris as CEO and named noted producer and nine-time Grammy winner Dave Cobb as chief creative officer.

The move is a return to UMGN for Harris, who served as COO/executive VP there until his departure last September.

“We see an incredible opportunity to expand our presence in Nashville and build upon our industry leading track record,” said Sir Lucian Grainge, chairman/CEO of UMG, in a statement. “The worldwide success of our country artists demonstrate that the genre truly has no boundaries and I’m excited for what lies ahead creatively and commercially.” The two will report to Grainge.

“I am humbled to have been asked by Sir Lucian to lead UMG Nashville at such an important and exciting time in country music,” said Harris, who had initially joined UMGN in 2016 after 15 years at EMI. “I also look forward to work closely with Dave Cobb, the amazing roster of artists and my friends at UMG Nashville.”

Cobb said, “I am incredibly excited to work with Mike Harris, I’m here to honor the past, and look to the future.”

Cobb, one of Music City’s most in-demand collaborators, has produced such albums as Chris Stapleton’s 6-times-platinum Traveller, Jason Isbell’s Southeastern and Brandi Carlile’s By The Way I Forgive You as well as recent albums for Mumford & Sons, Red Clay Strays, Zayn, Greta Van Fleet, Jamey Johnson, Little Big Town, Reba McEntire and music for Deliver Me From Nowhere, the forthcoming Bruce Springsteen biopic.

Mabe, whose reign lasted almost two years, was the successor to Mike Dungan, who retired in March 2023. Mabe became the first woman to lead a Nashville major label group. Country Airplay first broke the news.

“I want to thank Cindy Mabe for all her contributions to our Nashville company,” Grainge said. “She leaves UMG with our gratitude and respect.” 

In addition to Stapleton, UMGN is home to such acts as Eric Church, Luke Bryan, George Strait, Carrie Underwood, Mickey Guyton and The War and Treaty. Among its more recent successes were upstart Tucker Wetmore, who reached No. 2 on Billboard’s Country Airplay chart last year with “Wind Up Missin’ You,” and Ringo Starr, whose country album is the first release from the newly-relaunched Lost Highway/UMGN and debuted at No. 27 on Top Country Albums.