Benzinga: Cher an Icon, Beyonce An Innovator - iHeartRadio Hosts Star-Studded 2024 Music Awards
Benzinga highlighted the MUSQ ETF as a potentially attractive vehicle to gain exposure to the global industry in an article featuring some of the highlights of the iHeartRadio Music Awards.
Below is an excerpt from an article written by Johnny Rice and appeared in Benzinga on 4/4/24:
The 2024 iHeartRadio Music Awards saw performances from a diverse range of artists across genres. Ludacris, Justin Timberlake, Green Day, TLC, Jelly Roll, Lainey Wilson, Tate McRae, and Latto all performed at a spectacular event that showcased the immense talent of the music industry.
Speaking of the talent and variety, this year's host, Ludacris, said ahead of the event,
“I love that you got Jelly Roll on here, you got Lainey Wilson, you got Justin Timberlake. I just want to be a part of greatness. There’s so much talent, so much energy and so much stuff to look forward to."
Certain artists were honored with pre-announced awards; Beyoncé took home the Innovator Award, while Jennifer Hudson joined Cher in a duet of "Believe," as the pop legend received the Icon Award.
Swift Continues To Roll
Taylor Swift continued her record-setting year after being named TIME Person of the Year and winning Album of the Year at the 66th GRAMMYs, taking home six trophies including iHeart Radio's 2024 Artist of the Year.
Other big wins went to Jelly Roll who brought home New Pop Artist; SZA with Song of the Year, and Drake who won Hip-Hop Artist of the Year.
A Booming Night For A Booming Industry
The music industry has been rolling as of late as streaming continues to dominate. The recent IFPI report showed global recorded music revenue topping $28.6 billion last year, rising 10.2% YoY.[1]
Streamers have led the charge, having grown 11.2% YoY and now accounting for about half of the entire market. This comes in a year when Spotify Technology raised subscription prices 10% in most markets. Despite this, the service added a net 31 million premium users.[2]
MUSQ
As the music industry continues to grow, investing in the space could be worth considering. ETFs can be an attractive option for those who wish to leave the deep analysis and research to a team of experts.
The MUSQ Global Music Industry ETF (MUSQ) is a thematic ETF that provides concentrated exposure to the complete music ecosystem, covering streaming, content and distribution, live music events and ticketing, satellite and broadcast radio, equipment and technology and artificial intelligence.
The fund is well diversified and includes streamers like Spotify and Apple, device makers like Sonos, as well as major labels like Universal Music Group and Sony.
Diversification does not guarantee a profit nor protect against a loss.
Benzinga was compensated by MUSQ for writing and publicizing this content.
For a full listing of MUSQ holdings, please click here. Holdings subject to change.
The above third-party article represents an assessment of the market environment at a specific time and is not intended to be a forecast of future events or a guarantee of future results. This information should not be relied upon by the reader as research or investment advice regarding the fund or any security in particular. MUSQ claims no responsibility for its accuracy or the reliability of the data provided. Any opinions expressed in this article reflect analysis at the date of publishing and are subject to change.
[1] Global Music Report 2024, IFPI, March 2024
[2] Bruce, Gil, Spotify Raised Prices and Still Hit a Record for New Subscribers, Quartz, 2/6/24
MUSQ Global Music Industry Index ETF is offered by prospectus. Carefully consider the investment objectives, risks, charges, and expenses. This and other important information can be found in the MUSQ ETF prospectus, which should be read carefully before investing and can be obtained by visiting https://musqetf.com or by calling 1-855- MUSQ-ETF(687-7383).
Risk Disclosures
There is no guarantee the Fund will achieve its stated objectives.
In addition to the normal risks associated with investing, international investments may involve the risk of capital loss from unfavorable fluctuation in currency values, differences in generally accepted accounting principles or social, economic or political instability in other nations.
Emerging markets involve heightened risks related to the same factors as well as increased volatility and lower trading volume.
In addition to the normal risks associated with investing, investments in small- or mid-capitalization companies typically exhibit higher volatility.
The Fund’s concentration in an industry or sector can increase the impact of, and potential losses associated with, the risks from investing in those industries/sectors.
The Fund is non-diversified.
The Fund is new and has a limited operating history for investors to evaluate. A new and smaller fund may not attract sufficient assets to achieve investment and trading efficiencies.
The Fund may invest in securities denominated in foreign currencies. Because the Fund's NAV is determined in U.S. dollars, the Fund's NAV could decline if currencies of the underlying securities depreciate against the U.S. dollar or if there are delays or limits on repatriation of such currencies. Currency exchange rates can be very volatile and can change quickly and unpredictably.
All investing involves risk, and asset allocation and diversification do not guarantee a profit or protection against a loss. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, might be worth more or less than their original cost. ETFs are subject to risks similar to those of stocks, as well as other risks specific to the particular ETF.
ETF shares are traded on exchanges, and are traded and priced throughout the trading day. ETFs permit an investor to purchase a selling interest in a portfolio of stocks throughout the trading day. Because ETFs trade on an exchange, ETF shares are bought and sold at market price (not NAV). The prices of ETFs may sometimes vary significantly from the NAVs of a ETFs’ underlying securities. Brokerage commissions will reduce returns.
Exchange Traded Concepts, LLC serves as the investment advisor. The Funds are distributed by SEI Investments Distribution Co., which is not affiliated with Exchange Traded Concepts, LLC or any of its affiliates.