The Ultimate Music Industry Countdown—Who’s #1?
Welcome to the countdown that takes you behind the scenes of some of the music industry’s biggest power players!
Whether you’re pressing play on your favorite song, buying a concert ticket, or even picking up an instrument to make music yourself, chances are one of these companies is behind it. So let’s turn up the volume and count down the Top 10 company by allocation percentage* in the MUSQ Global Music Industry Index ETF!
At number 10… It’s a company that started with books but has taken over the world of digital music.
Amazon (AMZN) is making big moves in the industry with Amazon Music, (its streaming service that offers ad-supported and subscription-based tiers), live streaming partnerships with Twitch, and leveraging Alexa-powered streaming that offers exclusives to Prime Members. Whether it’s vinyl, CDs, or digital downloads, Amazon keeps the hits coming and the music flowing.
Coming in at number 9, this company is proving that K-pop isn’t just a genre—it’s a global phenomenon.
HYBE Corporation (352820 KS), the South Korean force behind BTS, SEVENTEEN, and NewJeans, isn’t just about music—it’s about full-scale fan engagement. With its Weverse platform, global acquisitions like Ithaca Holdings, and innovative content, HYBE is setting the stage for the future of entertainment.
At number 8, we’ve got a company that changed the game in 2001 and never looked back.
Apple (AAPL) has been a major force in the music industry since launching iTunes in 2001, revolutionizing digital music sales and later shifting to streaming with Apple Music, which now competes with platforms like Spotify. The company also integrates music deeply into its ecosystem through Siri, HomePod, exclusive artist content, and high-fidelity audio innovations, reinforcing its influence in both music distribution and technology.
Holding steady at number 7, this company has been making hits for decades.
Warner Music Group (WMG) is the powerhouse behind Ed Sheeran, Cardi B, Dua Lipa, and Bruno Mars. It is one of the world's largest music companies, owning a vast catalog of artists and labels, including Atlantic Records, Warner Records, and Elektra Records. With a strong presence in recorded music, music publishing through Warner Chappell Music, and digital innovation, WMG continues to adapt to the streaming era while exploring new revenue streams like NFTs and the metaverse. As a global entertainment powerhouse, it plays a key role in shaping the music industry’s future across digital platforms, licensing, and artist development.
At number 6, we’re turning up the volume with a company that puts instruments in the hands of musicians around the world.
Yamaha (7951 JP) is the name behind some of the world’s best pianos, guitars, synthesizers, and pro audio equipment. Yamaha plays a key role in sound innovation and technology, integrating AI and digital advancements to enhance music creation, production, and live performances.
Breaking into the top 5, this company is all about getting fans into the biggest live shows.
CTS Eventim (EVD GR) is Europe’s top ticketing and concert promotion company, making sure the biggest names in music play to packed crowds. From festivals to arenas, CTS Eventim is keeping live music alive and thriving.
At number 4, we’re taking a trip to the biggest music market in the world—China.
Tencent Music Entertainment (TME) is China’s leading digital music platform, dominating with streaming services like QQ Music, Kugou, and Kuwo. But this isn’t just streaming—karaoke, live performances, and social engagement make Tencent a major player in shaping how music is consumed. TME plays a significant role in shaping China's digital music consumption and expanding the influence of music in the social media space.
At number 3, this company is bringing the biggest tours to the biggest crowds.
Live Nation (LYV) is the world’s largest live entertainment company, owning venues, running festivals, and selling over 500 million tickets a year through Ticketmaster. If a massive concert is happening, Live Nation is likely behind it.
Coming in at number 2, this company didn’t just change how we listen to music—it changed how we discover it.
Spotify (SPOT) made streaming the king of the industry, giving us personalized playlists, artist analytics, and algorithm-driven recommendations. With over 600 million users, Spotify continues to shape the way music is played, shared, and monetized.
And finally, holding strong at number 1… The biggest music company in the world.
Universal Music Group (UMG NA) is the powerhouse behind some of the biggest names in music, representing global superstars like Taylor Swift, Billie Eilish, Post Malone, Lady Gaga and Ariana Grande under labels such as Interscope, Def Jam, Capitol Records, and Republic Records. More than just a record label, UMG is a driving force in streaming, digital innovation, and emerging tech, constantly redefining how music is created, distributed, and experienced. As the industry evolves, UMG continues to set the beat, shaping global music trends and the future of entertainment.
And there you have it—your Top 10 companies in the MUSQ ETF, some of the biggest names keeping the music industry moving forward. Whether it’s streaming, live shows, or the next big breakthrough in music tech, these companies are setting the stage for the future. Keep your feet on the ground and keep reaching for the stars!
Take a Closer Look at Music Industry Leaders. Explore MUSQ >>
*As of 3/11/25. These are the top 10 holdings in the MUSQ ETF and their "rank" in the countdown above is only a reflection of the Fund's allocation percentage to each company. This is for educational purposes only and is not a recommendation to buy or sell any securities.
For a complete list of MUSQ holdings, please click here. Holdings are subject to change.
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).
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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.
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