Warner Music Group (WMG) released early preliminary results for its third fiscal quarter ended June 30, 2026, reporting revenue up 10% year over year to nearly $1.9 billion. Recorded music revenue rose 10% to approximately $1.5 billion, while music publishing revenue increased 12% to $377 million. Digital revenue grew 11% to about $1.25 billion, including recorded music streaming revenue up 12% to just over $1 billion. The update is positioned as an individual-stock earnings catalyst within traditional assets.

Sphere Entertainment reported second-quarter revenue of $313.6 million, up 11% year over year, driven by additional showings of its Las Vegas Sphere venue’s “The Wizard of Oz” experience. The company’s operating loss widened to $61.3 million, an increase of $11.1 million from a year earlier, as Sphere segment selling, general and administrative expenses rose 30% to $125.6 million. Adjusted operating income fell 17% to $50.9 million. The results weighed on Sphere Entertainment’s stock.

Live Nation reported $7.7 billion in revenue for the second quarter of 2026, up 9% year over year. Concert revenue rose 8% to $6.4 billion, while attendance increased 10% to 49 million fans. The company said stadium constraints tied to the 2026 World Cup in the U.S., Canada and Mexico drove a 14% drop in concerts adjusted operating income (AOI). Live Nation forecast 10% full-year fan growth and double-digit AOI growth, with most of the improvement expected in Q4.

A U.S. judge ruled that Eight Mile Style, Eminem’s music publisher, can move ahead with its $109 million copyright lawsuit against Meta, rejecting Meta’s bid to dismiss the direct infringement claim. The case alleges that Facebook, Instagram and WhatsApp made 243 songs available in their in-app music libraries without a valid license, including “Lose Yourself.” The court said storing the works in the platforms’ libraries could constitute unauthorized reproduction, while dismissing Eight Mile’s secondary infringement claims.