Live shares rebound after Trump’s tariff pause

Shares in live music companies rebounded on a historic day for Wall Street after American president Donald Trump paused higher tariffs for 90 days.

While a baseline 10% tax will still apply to all countries except China, along with a 25% rate for all aluminium, and steel imports, but higher rates of up to 50% for dozens of other countries – dubbed the “worst offenders” by Trump – have been put on hold.

Trump said he had reached the decision because more than 75 countries had not retaliated against the US and had called “to negotiate a solution to the subjects being discussed”.

In response, the European Union has delayed retaliatory tariffs on the US for 90 days. But the US’ trade war with China intensified as Trump raised tariffs on the country to 125% after China responded to the president’s initial 104% tariff with an 84% levy on American goods.

An already turbulent week for the market took another twist following Trump’s tariff pause, leading to historic gains on the stock market as the S&P 500 rocketed 9.52% – its best day since 2008 and third-best day since World War II. In addition, the Nasdaq jumped 12.2% – its biggest since 2001 – and the Dow Jones was up 7.9%.

However, US markets were down upon opening this morning as Nasdaq fell 2.8%, the S&P 500 2.1% and Dow Jones 1.6%.

The touring business has been holding its own on the stock market in comparison to many other industries

Across the touring business – which has been holding its own on the stock market in comparison to many other industries – Live Nation closed 11% up yesterday at $131.75, Sphere Entertainment soared 19% to $30.97 and MSG Entertainment climbed 11% to $31.99, while live music firm Venu Corp rose 6% to $8.87 and streaming platform Spotify was up 10% to $569.06.

K-pop companies HYBE and JYP Entertainment ascended 7% and 4% respectively, with SM Entertainment roughly flat. MENA streaming service Anghami, owner of Dubai-based event management company Spotlight Events, was up 3.5%.

German-headquartered live entertainment giant CTS Eventim was also up 4% today to €93.30 as European markets rallied.

IQ has been speaking to a number of touring figures around the world about the “climate of uncertainty” the tariffs have brought to the business, with a common concern being the prospect of higher ticket prices and a reduction in disposable income for consumers. There were also fears of a decline in international touring.

“Whilst there is a belief that live entertainment is essentially recession-proof, that’s only so long as consumers continue to prioritise going to events within an increasingly challenging macro-economic environment,” ticketing expert Tim Chambers tells IQ.

“Our landing costs have sky rocketed and those costs are being turned into higher prices”

Danny Pelchat, of Quebec, Canada-based tour producer and promoter EMM Williams Productions, reports it has been business as usual up to this point.

“At this point in time we are in full creation mode and do not have immediate incidence from our southern neighbours,” he says. “Our next production will hit the road next summer, so we don’t have concerns now. Our contacts, worldwide, seem to operate as usual.”

Meanwhile, Brian Fair, who works for instrument manufacturer and distributor St Louis Music and is frontman of US metalcore band Shadows Fall, posted a lengthy blog on his Threads account about the tariffs’ effect on the music instrument market.

“Our landing costs have sky rocketed and those costs are being turned into higher prices that will unfortunately be handed down to the consumers,” he says. “We have tried to avoid increases where ever possible but a lot of it is unavoidable. Some of these brands used to be made in the US but that priced them entirely out of the market so production shifted to overseas many years ago.”

Fair said that “brick and mortar” music stores were already “barely scraping by”, adding: “These increases, no matter how small, will make it even more difficult for these stores to survive.”

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