HYBE was rocked by controversy this week after an audit of one of its subsidiary labels, ADOR, allegedly revealed that the label’s CEO, Min Hee-jin, “deliberately led the plan to take over management control of the subsidiary,” according to a statement sent by the company on Thursday (April 25).

Shares of HYBE fell 7.8% on Monday (April 22) and ended the week down 12.6% to 201,500 won ($146.22). HYBE later reported Min, who owns an 18% stake in ADOR, to the police for “breach of trust and other allegations” and asked her to step down, it said in the April 25 statement. The dispute added to HYBE’s losses at a time when most music stocks are faring well. HYBE shares have fallen 13.7% year to date and 25.4% over the last year.

HYBE was the biggest loser in a week most music companies’ stocks were up. In fact, five music companies’ stocks posted double-digit gains this week and only 7 of the 20 stocks in the Billboard Global Music Index were losers. The index gained 3.2% to 1,756.98, breaking a two-week losing streak and bringing its year-to-date increase to 14.5%. 

The week’s greatest gainer was streaming company LiveOne, which increased 14.5% to $1.90 after it provided two updates to upcoming earnings releases. On Monday, the company announced that it expects fiscal 2024 revenue of $118.5 million, up 19% from $99.5 million the previous year, and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $14.4 million — about 32% above $10.9 million of EBITDA in the prior year. On Wednesday (April 24), LiveOne announced that PodcastOne expects revenue of $11.7 million in the fiscal fourth quarter 2024, up 32% year over year. LiveOne spun off PodcastOne in 2023 and retained an 81% stake.

Two of the weeks’ best-performing stocks also reached their highest levels in years. Reservoir Media improved 13.8% to $9.10, its highest closing price since the stock closed at $9.20 on May 4, 2022. Chinese music streamer Tencent Music Entertainment gained 13.5% to $12.88, its best closing price since it closed at $13.02 on July 13, 2021. 

Hipgnosis Songs Fund (HSF) gained 12.9% to 1.038 pounds ($1.30) as Concord and Blackstone vie for control of the company’s share equity and 65,000-song portfolio. Notably, Friday’s closing price was 5 cents, or 4%, above Concord’s high bid of $1.25 per share, suggesting that some investors expect the bidding process to continue. As the HSF board weighs its options amidst a strategic review and building strife with its investment advisor, Hipgnosis Song Management, a sale seems inevitable. “I think investors have been through such a roller coaster most of them just want their money back,” Round Hill Music CEO Josh Gruss told Billboard this week.  

Spotify’s stock closed Friday up 5.0% to $289.59 after an up-and-down week. Shares rose 11.5% on Tuesday — and posted an intraday gain of 19.2% — following the release of the company’s first-quarter earnings report but gave back nearly all the gains over the next two days by falling 6.8% and 2.3% on Wednesday and Thursday, respectively. 

Tuesday’s (April 23) intraday high of $319.30 was Spotify’s highest share price in over three years. The last time Spotify traded above $319.30 was Mar. 8, 2021, when shares reached $323.04. The stock dropped below $100, to $96.67, on Apr. 27, 2022, and fell as far as $69.29 on Nov. 4, 2022. Since that low point a year and a half ago, as Spotify has cut its workforce and focused on improving margins, its share price has risen 218%. 

Indexes around the world posted gains this week. In the United States, the Nasdaq was up 4.2% to 15,927.90 and the S&P 500 improved 2.7% to 5,099.96. Both indexes were helped by Alphabet, which rose 10% to $173.69 on Friday after releasing first-quarter earnings and announcing a $70 billion buyback program. In the United Kingdom, the FTSE 100 rose 3.1% to 8,139.83. South Korea’s KOSPI composite index gained 2.5% to 2,656.33. China’s Shanghai Composite Index rose 0.8% to 3,088.64. 

Ricardo Montaner is a synonym for romanticism, delivering some of the best love songs in Latin music. For that, and his many decades in music, the Venezuelan singer-songwriter was honored with a special award for his extraordinary artistic legacy at the 2024 Latin AMAs on Thursday (April 25).

Before hitting the stage for a riveting performance, and perhaps one of the best of the night, Montaner gave a heartfelt speech, which had a special message for up-and-comers. “First of all, thank you to my Lord Jesus who has fulfilled my promises, each one,” Montaner began. “Obviously to my beloved wife who has accompanied me since the beginning of my career, to each one of my children who are always pushing me. Tonight, I want to give a message to all my colleagues that I am seeing here tonight, especially to those who are just starting. It is worth it to keep working hard, it is worth celebrating 45 years of career and to keep going.”

He then took the stage for an epic medley, which he kicked off with Sergio George on the piano and Manuel Medrano in tow to sing “Yo Que Te Amé.” Then, to get everyone on their feet, he transitioned to a salsa version of “La Cima del Cielo” and to end on a high note, he sang the ’90s classic “Vamos Pa’ La Conga,” with Silvestre Dangond and DJ Adoni joining the party.

The 2024 Latin American Music Awards took place Thursday live from the MGM Grand Garden Arena in Las Vegas via Univision. Hitmakers Feid and Peso Pluma lead this year’s list of nominations with 12 nods each. The Colombian singer and Mexican star, who are up for the coveted artist of the year award and album of the year award, are followed by top nominees Bad Bunny (11), Grupo Frontera (11), Karol G (9), Shakira (9), Eslabon Armado (8) and Fuerza Regida (8).

Thalia, Becky G, Alejandra Espinoza and Carlos Ponce co-hosed the award ceremony that presented in a combination of English and Spanish, marking the first time any major U.S. award show featured a bilingual broadcast.