Which Music Companies Had the Best Stock Returns in the Last Three Years? 

The post-COVID boom in demand for music has been a financial boon for the industry. Some, however, have benefited more than others.

Stock returns over the last three years (the period ended Aug. 29) show that a trio of music streaming companies, some K-pop agencies and a few live music companies have taken a majority of the spoils. Spotify, Tencent Music Entertainment (TME) and NetEase Cloud Music have given investors an average return on investment of 408% over that period. Meanwhile, South Korea’s SM Entertainment’s 105.3% gain — coming entirely in the last 12 months — makes it the only other company to exceed a 100% return. In addition, as fans clamored for live music and sidelined artists resumed touring, concert promoters Live Nation and CTS Eventim gained 85.8% and 50.5%, respective