With the mystery of who bit Beyonce solved, the music world turned its attention to Spotify and its direct listing on the New York Stock Exchange. There was other news, too, as our weekly HITS High 5 attest.
Spotify went live as a public company more than three hours after the opening bell rang Tuesday and the price wound up dropping from its opening of nearly $170 a share. It closed at $149.01 on its first day. Here’s what happened on Day 2 and Day 3. Not all predictions came true and, naturally, the idea of going public had its detractors.
Paul Rosenberg’s Def Jam has enhanced its A&R squad.
Chris Stapleton could be head headed for his second Triple Crown at the 53rd annual Academy of Country Music Awards.
The U.K. released figures on the gender pay gap at the major labels. Women are paid 29.8% less than men per hour at Universal, 22.7% less at Sony and 49% less at Warner.
In management news, Bernie Cahill and Greg Suess have launched Activist Artists Management, and Live Nation acquired Jonathan Wolfson’s company.
If the Spotify offering didn't satisfy your investment cravings, try these stocks.
