5 Best Music Stocks to Invest in

In this piece, we will take a look at the five best music stocks to invest in. If you want to learn more about all the latest news in the music industry, then check out 11 Best Music Stocks to Invest in.

5. iHeartMedia, Inc. (NASDAQ:IHRT)

Number of Q4 2023 Hedge Fund Shareholders: 25

iHeartMedia, Inc. (NASDAQ:IHRT) is an American broadcasting company headquartered in San Antonio, Texas. It operates close to a thousand radio stations that deliver music and other content to listeners. The firm held its annual music awards in April 2024, with performances from big ticket names such as Justin Timberlake and Ludacris.

As of Q4 2023 end, 25 out of the 933 hedge funds covered by Insider Monkey’s research were iHeartMedia, Inc. (NASDAQ:IHRT)’s investors. Ryan Tolkin (Cio)’s Schonfeld Strategic Advisors owned the biggest stake which was worth $4 million.

4. Warner Music Group Corp. (NASDAQ:WMG)

Number of Q4 2023 Hedge Fund Shareholders: 35

Warner Music Group Corp. (NASDAQ:WMG) is one of the biggest American music companies. Headquartered in New York City, it is involved in artist development and music distribution. The shares are rated Buy on average, and the average analyst share price target is $37.27.

After digging through 933 hedge fund portfolios for their December quarter of 2023 shareholdings, Insider Monkey found that 35 had held a stake in the firm. Warner Music Group Corp. (NASDAQ:WMG)’s largest hedge fund investor is Scott W. Clark’s Darlington Partners Capital due to its $196 million stake.

3. NetEase, Inc. (NASDAQ:NTES)

Number of Q4 2023 Hedge Fund Shareholders: 36

NetEase, Inc. (NASDAQ:NTES) is a Chinese company headquartered in Hangzhou, China. A diversified technology company, it also owns and operates a music streaming service. NetEase, Inc. (NASDAQ:NTES) is also one of the strongest rated music stocks on our list, through its average share rating of Strong Buy and an average share price target of $135.44.

By the end of last year’s fourth quarter, 36 out of the 933 hedge funds covered by Insider Monkey’s research were NetEase, Inc. (NASDAQ:NTES)’s investors. Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital owned the biggest stake which was worth $170 million.

2. Spotify Technology S.A. (NYSE:SPOT)

Number of Q4 2023 Hedge Fund Shareholders: 68

Spotify Technology S.A. (NYSE:SPOT) is one of the biggest pure play streaming companies in the world, whose platform allows artists to reach a vast number of people. However, some of its non U.S. users might be in for a surprise later this year if a purported price hike comes into play.

Insider Monkey dug through 933 hedge fund portfolios for their December quarter of 2023 shareholdings and found that 68 had held a stake in the firm. Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital owned the biggest Spotify Technology S.A. (NYSE:SPOT) stake which was worth $414 million.

1. Apple Inc. (NASDAQ:AAPL)

Number of Q4 2023 Hedge Fund Shareholders: 131

While not a pure play music company, Apple Inc. (NASDAQ:AAPL) deserves a spot on our list of the best music stocks due to its Apple Music division. This is because Apple Music’s revenue is estimated to sit at $8.3 billion annually, which is in the same ballpark as Spotify’s $12 billion.

131 out of the 933 hedge funds covered by Insider Monkey’s research during Q4 2023 were Apple Inc. (NASDAQ:AAPL)’s shareholders. Warren Buffett’s Berkshire Hathaway was the largest shareholder as it held $174 billion worth of shares.

Disclosure: None. You can also take a look at the 12 Dirt Cheap Stocks To Buy According to Hedge Funds and 40 Best Fashion Schools in the World for 2024.

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