Katy Perry’s manager, Bradford Cobb, appears to be firing back at Wendy’s after the fast-food chain took a dig at his client earlier this year.
On Friday (Nov. 7), reports emerged that Wendy’s plans to close hundreds of restaurant locations nationwide as part of a corporate “turnaround plan.” Interim CEO Ken Cook announced that between 200 and 350 of the company’s roughly 6,000 U.S. restaurants would be affected, according to CNN.
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Cobb quickly took notice of the news, reposting a KTLA headline about the closures to his Instagram Story, alongside a photo of the brand’s iconic red sign.
The longtime manager’s post comes months after Wendy’s threw shade at Perry on social media. In April, the chain’s official X account responded to a Pop Crave post about Perry’s return from her Blue Origin NS-31 spaceflight with a blunt jab. “Can we send her back?” Wendy’s replied, causing a stir online.
The company doubled down with another post on X featuring a photo of the “Firework” singer kissing the ground after landing, captioned, “I kissed the ground and i liked it.” When one user pointed out that Perry had only been in space for about 10 minutes, the brand wrote back, “Don’t short change her it was 11 minutes.”
Perry was one of six passengers on Blue Origin’s all-women flight crew, which landed safely back on Earth after the brief suborbital trip.
Weeks later, Perry addressed the online negativity, leaving a heartfelt comment on a fan page thanking her supporters for standing by her.
“I’m so grateful for you guys. We’re in this beautiful and wild journey together,” she wrote. “I can continue to remain true to myself, heart open and honest especially because of our bond. I love you guys and have grown up together with you and am so excited to see you all over the world this year!”
The artist continued, “Please know I am ok, I have done a lot work around knowing who I am, what is real and what is important to me. My therapist said something years ago that has been a game changer, ‘no one can make you believe something about yourself that you don’t already believe about yourself’ and if I ever do have any feelings about it then it’s an opportunity to investigate the feeling underneath it.”
She closed, writing, “When the ‘online’ world tries to make me a human Piñata, I take it with grace and send them love, cause I know so many people are hurting in so many ways and the internet is very much so a dumping ground for unhinged and unhealed.”
As Jamaica picks up the pieces in the aftermath of Hurricane Melissa’s historic devastation, the global reach of their artists remains cause for celebration.
On Friday (Nov. 7), the Recording Academy revealed the five nominees for best reggae album at the 2026 Grammy Awards — and Jamaican musicians snagged every single spot. The five newly Grammy-nominated albums are Treasure Self Love (Lila Iké), Heart & Soul (Vybz Kartel), Blxxd & Fyah (Keznamdi), From Within (Mortimer) and No Place Like Home (Jesse Royal). Notably, Billboard correctly predicted four out of the five nominees in its round-up of global field Grammy predictions.
“It’s exactly 464 days ago to the day I achieved a significant milestone with my freedom, and within this time span, I have been nominated [for a Grammy Award] twice,” Kartel exclusively told Billboard. “I am genuinely thankful that my artistic contributions have once again garnered such esteemed attention from the Recording Academy.”
Earning his second nod in this category in as many years, Kartel’s latest Grammy nomination bookends a seismic comeback year that began, in earnest, with his January Billboard cover shoot. The sole dancehall album in contention, Heart & Soul arrived on Aug. 29, featuring a steamy collaboration with Ishawna. The week before Kartel dropped Heart & Soul, Lila Iké celebrated her third consecutive Caribbean Music Award win for female reggae artist of the year by releasing her long-awaited Treasure Self Love debut album. “I’m always paying homage to my culture and the people who laid the foundation for what’s going on in Jamaican music right now,” she told Billboard about the nods to Peter Tosh, Patra and Barrington Levy sprinkled throughout her album.
In February, Keznamdi spoke with Billboard about the music video for “Time,” the lead single from Blxxd & Fyah, saying, “In the process of making the problem, the music just sounded like Africa.” Now, Blxxd & Fyah has earned the independent Kingston-born reggae artist his first career Grammy nomination. Throughout the year, both Mortimer (“Bruises”) and Jesse Royal (“Too Late”) had tracks from their now-Grammy-nominated albums featured in Billboard’s monthly Reggae/Dancehall Fresh Picks column.
Check out how each 2026 best reggae album Grammy contender reacted to the news of their nomination.
https://i0.wp.com/neztelinc.com/wp-content/uploads/2020/10/station.nez_png.png?fit=943%2C511&ssl=1511943Yvetohttps://neztelinc.com/wp-content/uploads/2020/10/nez_png.pngYveto2025-11-08 22:47:412025-11-08 22:47:41Here’s How Vybz Kartel, Lila Iké & More Reacted to Their 2026 Best Reggae Album Grammy Nominations: ‘This Is a New Tidal Wave for Reggae’
Rod Wave has been arrested by the Atlanta Police Department on multiple weapon and drug charges.
The 27-year-old rapper-singer, whose real name is Rodarius Green, was taken into custody Friday (Nov. 7) in Fulton County, Georgia, and charged with possession of a firearm or knife during the commission of or attempt to commit certain felonies, reckless driving, possession of a Schedule V controlled substance and possession of Schedule II controlled substance, according to TMZ.
Following his arrest, Rod Wave was booked into the Fulton County Jail, Fox 5 Atlanta reports. As of Saturday morning, he remained in custody. His attorney, Drew Findling, told TMZ that the artist had made his first court appearance and that bond had been set at $8,000.
Further details about what led to the arrest were not available at press time.
This is not Rod Wave’s first legal issue. In May, he was arrested in Georgia and booked into Fulton County Jail on charges of aggravated assault and possession of a firearm. He later faced 12 additional counts, including aiming a pistol at another person, reckless conduct, criminal damage to property, obstruction of law enforcement, evidence tampering, conspiracy to commit a felony, and simple assault.
Court records show that the May arrest stemmed from an alleged April 21 altercation. The musician was released the same day after posting a $50,000 bond. “There is no truth to these charges,” his attorney Findling told Billboard at the time.
The “25” rapper-singer also faced gun charges in April 2024 in Manatee County, Florida, after being accused of illegally possessing a weapon or ammunition. Authorities attempted to connect him to a gang-related shooting at a St. Petersburg sports bar. In May 2022, he was also arrested on a felony charge of battery by strangulation, which was later dropped.
Aside from his legal troubles, Rod Wave released the singles “Westside Connection” and “Sinners” in 2025. The latter appeared on the Sinners movie soundtrack and played during the horror film’s final scene. His most recent album, Last Lap, was released in October 2024, reaching No. 2 on the Billboard 200.
https://i0.wp.com/neztelinc.com/wp-content/uploads/2020/10/station.nez_png.png?fit=943%2C511&ssl=1511943Yvetohttps://neztelinc.com/wp-content/uploads/2020/10/nez_png.pngYveto2025-11-08 20:42:302025-11-08 20:42:30Rod Wave Arrested on Weapon and Drug Charges in Atlanta
Britney Spears is back on Instagram after a short break from the platform.
Just days after deactivating her account, the 43-year-old pop star reappeared on Friday (Nov. 7), sharing a new photo with her 42 million followers. In the image, she poses in a white lace bra, gray and black underwear, and black boots.
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“So much has happened this year, it’s crazy …,” Spears captioned the image. “I try to live within my means and the book, ‘Draw the Circle’ is an incredible perspective. Get your ballerina 🩰, circle, and own your boundaries.”
She continued, “It’s incredibly strict and somewhat of a form of prayer but with so many endless possibilities in life, it’s important to do you and keep it simple. I know there is a confusing side too. The devil is in the details but we can get to that later 😳😂🤧.”
The “Gimme More” singer’s return comes about five days after she deactivated her account. The brief disappearance coincided with the release of her ex-husband Kevin Federline’s tell-all memoir, You Thought You Knew, which includes several sensational claims about their two-year marriage.
Spears did not address her short-lived absence from Instagram, which went dark on Nov. 2 and displayed an automated message saying the “profile may have been removed.” The pop star has taken several social media breaks in recent years — briefly in 2021 and twice in 2022 — and has periodically stepped away from posting ever since.
Her latest retreat followed a series of mid-October Instagram posts in which she appeared to respond to allegations made in Federline’s book. “Its fun to tell stories at this point because this all might sound so silly but with what garbage literally is being said about me I said why not bring SUBSTANCE to the table,” she wrote.
Prior to that, Spears accused Federline of “constant gaslighting” and criticized those who “profit off my pain,” seemingly referring to her financial relationship with her ex. “No money from Britney for 5 years you trying to get paid that’s what general America is saying weird you both have moved on… your kids are adults it’s a different world now … why is HE SO ANGRY,” she wrote.
Fans have recently expressed concern about the singer’s well-being after she continued posting her trademark dance videos along with cryptic messages about her two sons — Sean Preston, 20, and Jayden James, 19 — with Federline, according to People.
In one video posted on Oct. 7, Spears appeared with bruises on her arms and bandages on both hands and her right knee. “Psss I fell down the stairs at my friend’s house… it was horrible… it snaps out now and then, not sure if it’s broken but for now it’s snapped in !!!” she explained in a TikTok post showing her injuries.
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There are few moments more immediately significant than an artist learning they’ve earned a Grammy nomination. For KATSEYE‘s Megan, that revelation arrived not during the live reveal or from celebratory screams, but in the glow of KATSEYE’s group chat.
“I woke up a little bit later so I woke up to the group chat going crazy — that’s literally how I found out,” she tells Billboard exclusively during a phone interview just two hours after the Recording Academy announced the 2026 nominees in full. “It’s just me here right now, but the group chat is blowing up.”
With nods in best new artist and best pop duo/group performance, Megan says KATSEYE’s two nominations feel like a confirmation of the whirlwind experience the sextet has been on from their 2023 Dream Academy competition series to climbing up the Billboard Hot 100 as “Gabriela” reaches a new peak of No. 37 this week.
“It’s all settling in and I feel like I haven’t fully come to my — I don’t know — I feel like it hasn’t settled in fully that we are nominated for two Grammy Awards,” she adds. “It’s crazy, I literally woke up to the news. I think throughout the day it’s gonna settle a little bit more, but feeling super grateful.”
Megan
Austin Hargrave
With best pop duo/group performance, “Gabriela” is recognized in a stacked category in this year of superstar team-ups. KATSEYE is up against Cynthia Erivo and Ariana Grande‘s Wicked duet “Defying Gravity,” Kendrick Lamar and SZA‘s latest collab “30 for 30,” ROSÉ and Bruno Mars‘ multicultural smash “APT.” as well as “Golden” from KPop Demon Hunters’HUNTR/X group of Ejae, Audrey Nuna, Rei Ami. Megan says the recognition is particularly significant for their position as a global girl group.
“With any award or nomination, it means so much to us because we work so, so hard,” she says. “So, it’s like all of the hard work, those long hours and all the dedication are really paying off. But especially for the best pop duo/group [performance], we really do rely so much on each other; we are literally sisters at the end of the day. So, being able to get nominated with my five best friends is literally a dream come true. It’s the best feeling ever. And especially with what we represent globally, it means so much to each and every one of us. We’re just like so excited and so happy about everything.”
That happiness doesn’t just extend to KATSEYE’s nods, but also to her fellow best new artist nominees, which include friends of the band like Addison Rae, sombr and Alex Warren.
“It’s insane that we’re even in the same category — it’s literally crazy,” the Honolulu native adds. “But yeah, Addison, sombr, even Leon Thomas, Alex Warren, Lola [Young], every single one of them, they’re literally all amazing and we all look up to them in our own ways. We’re so new, so to even be in the same category as these amazing artists is so, so cool. But to be able to share the nomination with some of our friends like Addison, sombr and Alex, it’s really, really cool and I’m proud of each and every one of them as well.”
As for the whole group, KATSEYE shared the following statement on their social media following the Grammy nominations reveal: “We can’t even believe this is real life!! two nominations?! thank you to the Recording Academy we are truly humbled, and congrats to all the nominees today, you inspire us! we wouldn’t be here without our EYEKONS — words can’t describe how grateful we are to you.”
The 68th Annual Grammy Awards will take place Sunday, Feb. 1, at Crypto.com Arena in Los Angeles. Before that, KATSEYE dropped a new teaser clip today as well, seemingly hinting at something special coming on Nov. 11, tagging the Valorant video game and its accompanying esports league in the caption. Watch below:
https://i0.wp.com/neztelinc.com/wp-content/uploads/2020/10/station.nez_png.png?fit=943%2C511&ssl=1511943Yvetohttps://neztelinc.com/wp-content/uploads/2020/10/nez_png.pngYveto2025-11-08 17:25:502025-11-08 17:25:50Megan of KATSEYE Shares Real-Time Reactions to Group’s Grammy Nominations: ‘The Group Chat Is Blowing Up’
Last season, Stranger Things had a major impact on the Billboard charts, giving Kate Bush her first Hot 100 Top 10 with “Running Up That Hill” at No. 3. The cast of the 5th & final season of Stranger Things gives us their anthems for taking on the “Upside Down” in Hawkins. Millie Bobby Brown, Finn Wolfhard, Noah Schnapp, Gaten Matarazzo and more share their favorite tunes on the red carpet of the premiere.
Catrise Johnson:
Before heading into the upside down, what would your character be blasting in their headphones?
Millie Bobby Brown:
Beyonce.
What Beyonce song?
Millie Bobby Brown:
“American Requiem.”
That’s a good one. That’s a good one.
Millie Bobby Brown:
Or “YA YA.”
What is your character playing in their headphones?
Finn Wolfhard:
Probably some punk or some metal. Eddie from season four probably got into his got into his head, and got him into some heavier music. So maybe Metallica?
Noah Schnapp:
It’s Will Byers, I feel like he’s very like indie, maybe like boy genius, like just a little indie.
I like that.
Noah Schnapp:
Maybe I should just go with a classic. My favorite, “Forever Young.”
Gaten Matarazzo:
This is very good, like a hype up song. We need something to hype you up a little bit. Maybe we could go with like…
Beyonce?
Gaten Matarazzo:
Oh my gosh. How about all of ‘Renaissance.’
Oh, my God. ‘Renaissance?’
Gaten Matarazzo:
The tour was amazing. I didn’t get to see ‘Cowboy Carter’
https://i0.wp.com/neztelinc.com/wp-content/uploads/2020/10/station.nez_png.png?fit=943%2C511&ssl=1511943Yvetohttps://neztelinc.com/wp-content/uploads/2020/10/nez_png.pngYveto2025-11-08 17:01:022025-11-08 17:01:02Millie Bobby Brown, Finn Wolfhard & More Share What Song Their Character Would Blast Before Heading Into the Upside Down | Billboard News
From career milestones to new music releases to major announcements and those little important moments, Billboard editors highlight uplifting moments in Latin music. Here’s what happened in the Latin music world this week.
The 2025 Maestro Cares Gala
The Maestro Cares Foundation, co‑founded by Marc Anthony and Henry Cárdenas, celebrated its 12th Annual “Changing Lives, Building Dreams” Gala this week at the Cipriani Wall Street in New York City. Key leaders, philanthropists, and entertainment figures — including Eva Longoria and J Balvin — were present at the ceremony. Longoria was honored with the Maestro Cares Community Hero Award for educating and empowering Latin women through Eva Longoria Foundation (ELF), and Balvin received the Trailblazer of Cultural Empowerment Award for his commitment to raising awareness about mental health.
“For Henry and me, tonight is not just a gala; it’s a powerful reminder of what we can achieve when talent and generosity come together,” Anthony said in a press statement. “Thanks to their leadership, and to the commitment of every person in this room, we are fostering opportunities and support for girls and boys in need. What we are celebrating today is not an award; it’s a collective momentum that changes destinies.”
Funds raised during the gala will benefit Maestro Cares Foundation programs, focused on housing, education, and health for vulnerable communities in Latin America and the United States.
Marc Anthony, Eva Longoria, and J Balvin at the Maestro Cares Foundation Gala 2025 at Ciprini Wall Street in New York, NY, on November 5, 2025.
Querencia Creative
Chiquis’ New Studio Album
Chiquis has released her new album, Flores En Mi Alma, the first under her own record label Sweet Sound Records. Steering away from the Banda music that has characterized her sound and biggest hits, the Mexican-American singer experiments with reggae, R&B, and folk cumbia on this eight-track set that also includes powerful audio affirmations by the singer. The album, which Chiquis describes as “healing music that comes from the soul,” has a very low frequency to hit the chakras of each person, according to a press statement.
“I took a little bit of soul space to reconnect with myself and what I wanted to write about,” Chiquis previously told Billboard of her new music. “I think it’s very important to get passionate and fall in love all over again with my art. […] I had my creativity blocked, and I didn’t know what was happening, but then I realized that I needed to look inward. I did a spiritual retreat for three weeks, and it helped me tremendously, to the point that I want to sing things I never sang about.” Stream and listen to Flores En Mi Alma below.
Juan Luis Guerra Will Conquer Aruba
This week, the “Live in Paradise” concert set to take place in Aruba announced Juan Luis Guerra as its iconic headliner. The news was shared during a press conference held from Pier 5 at Bayside Marketplace in Miami on Wednesday (Nov. 5) featuring renowned DJ Alex Sensation and representatives from the Aruba Tourism Authority (A.T.A.) and the Ministry of Tourism of Aruba. The “Live in Paradise” concert, which will bring together music, travel, and the Caribbean culture in a tropical island, will take place Saturday, Dec. 13 at the Harbour Arena in Aruba.
Juan Luis Guerra performs on stage during the 25th Annual Latin Grammy Awards at the Kaseya Center in Miami, Florida, on Nov. 14, 2024.
Giorgio Viera/AFP/Getty Images
Gloria Estefan’s Homecoming
Earlier this week, the Latin Grammy Cultural Foundation and Sony Music Group’s Beyond the Instrument initiative hosted an event with Gloria Estefan at James H. Bright / JW Johnson Elementary School in Miami. The school, which received a grant for new musical equipment, is where Estefan’s late mother, Gloria Fajardo, was a teacher for more than 20 years, marking a special full-circle moment for the artist.
“Returning to James H. Bright/JW Johnson Elementary School is deeply personal for me,” the artist expressed in a statement. “This is where my mother, Gloria Fajardo, dedicated more than two decades of her life as an educator — inspiring generations of students to dream, learn, and believe in themselves. Music was always a central part of our home and our family, and I know she would be so proud to see the next generation of young minds being nurtured through it. Supporting music education is not just about fostering future artists; it’s about giving children the tools to express themselves, to build confidence, and to connect with their culture and community. To be able to honor my mother’s legacy in this very special way means the world to me.” The celebration also included students from the school performing a special tribute of “Mi Tierra” and “Conga.”
https://i0.wp.com/neztelinc.com/wp-content/uploads/2020/10/station.nez_png.png?fit=943%2C511&ssl=1511943Yvetohttps://neztelinc.com/wp-content/uploads/2020/10/nez_png.pngYveto2025-11-08 16:45:322025-11-08 16:45:32How a Spiritual Retreat Inspired Chiquis’ ‘Flores En Mi Alma’ Album & More Uplifting Moments
Jelly Roll has been forced to cancel the final date of his debut Australia and New Zealand tour, citing illness, just hours before the headline show was set to kick off.
The Grammy-nominated, multi-platinum artist announced via Instagram on Friday (Nov. 8) that he would not be performing at The Outer Fields at Western Springs in Auckland, New Zealand, as originally scheduled for tonight.
“Dear Auckland, I’ve done everything I can,” he wrote on Instagram. “I just can’t shake it. It breaks my heart, I’ve probably missed three shows in the last decade. I pride myself on showing up no matter what. Just couldn’t do it this time. Please forgive me.”
Fans reported that they didn’t discover news of the cancellation until arriving at the venue. The late notice left many frustrated and disappointed, particularly as some had travelled long distances to attend Jelly Roll’s first-ever New Zealand performance.
The cancelled concert was set to wrap Jelly Roll’s tour across Australia and New Zealand, which marked the country-rock star’s first-ever visit to the region. The run included back-to-back shows at Melbourne’s Rod Laver Arena (Oct. 28–29), a sold-out night at Sydney’s Qudos Bank Arena (Nov. 4), and an Adelaide show at AEC Theatre (Oct. 26). He also headlined the inaugural Strummingbird Festival on the Sunshine Coast (Oct. 25), followed by dates in Newcastle (Nov. 1) and Perth (Nov. 2).
In 2023, his album Whitsitt Chapel peaked at No. 3 on the Billboard 200, and in 2024, his follow-up Beautifully Broken debuted at No. 1 — marking his first chart-topping release on the all-genre tally. He has also earned eight consecutive No. 1 singles on the Billboard Country Airplay chart, including fan favourites like “Heart of Stone,” “I Am Not Okay,” and “Liar,” the latter of which held the top spot for six weeks.
No official update has been issued yet regarding potential rescheduling or refunds for the cancelled Auckland date.
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Mod Sun is looking back on his high-profile engagement to Avril Lavigne — and how the fallout helped him grow.
Appearing on the Nov. 6 episode of Bunnie Xo’s Dumb Blonde podcast, the multi-genre artist opened up about the relationship’s end with surprising clarity, saying: “We’re two different people, but I think I had a great influence on her.” He added that the “Sk8er Boi” singer helped him “grow up,” and that he’s now more secure in his identity than ever before.
The former couple met in early 2021 while collaborating on music, and their joint single “Flames” dropped just weeks later. A whirlwind romance followed, with Mod proposing in Paris in April 2022. Less than a year later, the pair called off the engagement in February 2023.
Though Lavigne has remained publicly silent on the split, Mod has continued to speak openly. In July 2023, he released the breakup track “Strangers,” with lyrics detailing the rise and fall of their relationship. The Paris-shot music video — filmed in the same city where he proposed — added further emotional weight.
On the podcast, Mod said that his perspective on the breakup has shifted over time: “We’re two different people, but I think I had a great influence on her.”
He continued, “Like now, I’m very secure of who I am, because I’ve been lost in the last three years of wondering, ‘Where do I fit in?’”
He added later, “If we had done this talk three months ago, I might’ve been like, ‘F— that person,’ but now… If I run into you? It’s all love.”
He also spoke about developing greater empathy in the aftermath, saying, “When someone does you wrong, stop thinking, ‘You did me dirty, and I’m out for revenge.’ Step in their position.”
Lavigne was briefly linked to rapper Tyga following the split, but the pair separated in mid-2023. Mod, meanwhile, focused on his tour and healing. “Being surrounded by love every night on tour has been an absolute blessing,” he wrote on Instagram days after the breakup. “I just know there’s a plan for it all.”
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Music stocks had their worst week in three months, as most companies that reported earnings this week were penalized for not offering more to investors. Spotify, Live Nation, SM Entertainment and Reservoir Media all finished the week ended Nov. 7 in the red — though live entertainment companies Sphere Entertainment and MSG Entertainment bucked the trend by posting sizable gains after putting out their quarterly earnings reports.
The 19-company Billboard Global Music Index (BGMI) fell 5.0% to 2,703.11 as losers outnumbered winners 15 to 4. After soaring earlier in the year, the BGMI is now 13.3% below its all-time high of 3,117.20 (in the week ended June 30) and is now equal to its value in early May.
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iHeartMedia was a notable exception to the carnage. The radio company’s shares jumped 55.9% to $4.63 after a report at Bloomberg said the company is in talks to license its podcasts to Netflix. Netflix is known to be seeking video podcast content and has also reportedly approached SiriusXM about distributing its podcasts. The week’s high mark of $4.77, reached on Thursday (Nov. 6), was iHeartMedia’s highest mark since March 17, 2023.
Sphere Entertainment Co. rose 12.6% to $77.08 after the company’s earnings report on Tuesday (Nov. 4) showed an improvement in the Sphere segment’s operating loss. Led by the popularity of The Wizard of Oz, the number of film viewings, called The Sphere Experience, rose to 220 from 207 in the prior-year period. Sphere’s shares are now up 81.5% year to date.
MSG Entertainment (MSGE) shares gained 5.3% to $46.51 following the company’s earnings report on Thursday. MSGE’s revenue jumped 14% to $158.3 million while its operating loss deepened to $29.7 million from $18.5 million a year earlier. J.P. Morgan raised its price target to $47 from $41, citing management’s comments on pricing and higher expectations for the Christmas Spectacular at Radio City Music Hall.
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Spotify Reports Double-Digit Growth in Subscribers and Quarterly Revenue
Companies such as Live Nation and Spotify reported solid results but suffered a large share price decline — part of a trend that extends well beyond music companies, Bernstein analysts wrote in an investor note on Thursday: “We’ve seen a brutal theme emerge across the consumer [technology, media and telecommunications] sector: stocks that deliver perfectly in-line or modestly better than expected results are still getting sold.” Growth is not good enough, they explained, and investors are “shooting first and asking questions later” when a company doesn’t have a “bulletproof guide” for the next year or two.
Live Nation shares ended the week down 6.0% to $140.51 after the company reported third-quarter earnings on Tuesday (Nov. 4). Despite showing continued revenue and adjusted operating income growth, Live Nation’s share price fell 10% the following day, though the price recovered some losses in each of the next two trading days. Bernstein maintained its $185 price target and called the sell-off a buying opportunity, but numerous other analysts lowered their Live Nation price targets, including Oppenheimer (from $180 to $175), Evercore (from $180 to $168), Morgan Stanley (from $180 to $170), J.P. Morgan (from $180 to $172) and Roth Capital (from $180 to $176).
Also releasing third-quarter earnings on Tuesday was Spotify, whose stock fell 5.9% to $616.91 in the aftermath. The company reported 12% revenue growth, but the title of Bernstein’s investor note on Tuesday perfectly captured Spotify’s need to constantly impress investors: “When you trade at 50x EPS, you’d better make sure everybody’s happy.” Meanwhile, J.P. Morgan called the company’s fourth-quarter outlook “slightly mixed”: The company’s guidance on monthly average users and gross margin were “above expectations,” it said, but guidance on subscribers, revenue and operating income were lighter than expected. Guggenheim lowered its price target to $800 from $850, noting that results met expectations but that “questions remain” on Spotify’s ability to improve margins through price increases.
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Sphere Entertainment Revenue Rises on ‘The Wizard of Oz,’ Backstreet Boys Residency
Elsewhere, Reservoir Media fell 3.0% to $7.37 following the release of its quarterly earnings on Tuesday, while Warner Music Group, which reports earnings on Nov. 20, fell 5.4% to $30.23. Universal Music Group, which reported earnings on Oct. 30, dropped 3.4% to 22.48 euros ($26.01).
K-pop company SM Entertainment fell 14.1% to 102,600 KRW ($70.47), having dropped 9.6% in the two days following the release of third-quarter results on Thursday. Other K-pop companies also experienced large declines as HYBE dropped 10.4%, JYP Entertainment dipped 11.0% and YG Entertainment sank 21.3%, likely because of a report that BLACKPINK’s next album has been delayed until January 2026.
Most indexes had an off week. In the U.S., the Nasdaq composite fell 3.0% to 23,004.54, marking its worst week since April. The S&P 500 dropped 1.6% to 6,728.80. The U.K.’s FTSE 100 sank 0.4% to 9,682.57. South Korea’s KOSPI composite index plummeted 3.7% to 3,953.76. China’s Shanghai Composite Index rose 1.1% to 3,997.56.
https://i0.wp.com/neztelinc.com/wp-content/uploads/2020/10/station.nez_png.png?fit=943%2C511&ssl=1511943Yvetohttps://neztelinc.com/wp-content/uploads/2020/10/nez_png.pngYveto2025-11-08 01:25:442025-11-08 01:25:44Live Nation, Spotify, SM Entertainment Declines Highlight Rough Week for Music Stocks