As Hollywood plots to restart film and TV production amid the novel coronavirus pandemic, the entertainment industry may be in for a wave of initial public offerings.
On June 3, Warner Music Group helped breathe life into the U.S. IPO market with the biggest debut of the year. The stock finished its first day above $30, more than 20 percent beyond its $25 IPO price, which had valued the company at $12.75 billion.
The music major, which had filed for its stock listing in February but then delayed it, went ahead amid a market rebound and easing COVID-19 lockdowns.
That could help pave the way for more sector IPOs, particularly in streaming video, including from foreign companies seeking to tap the U.S.