Travis Scott, Billie Eilish, Dua Lipa, Jon Batiste: 2024 GRAMMYs Set For Knockout Year - How Can Investors Capitalize?

Travis Scott, Luke Combs, and Burna Boy have just been announced as new additions to the cohort of artists performing at the 66th GRAMMY Awards. The three will join an already impressive lineup that includes the likes of Billie Eilish, Dua Lipa, and Olivia Rodrigo.

The hotly anticipated award show will air live on February 4th. at 8 p.m. ET on CBS and will be hosted by Two-time GRAMMY-nominated comedian and former "The Daily Show" host Trevor Noah.

Swift Sweep?

Taylor Swift has already made history heading into the 66th edition. She’s up for Song of the Year for her hit single “Anti-Hero”. This marks her 7th nomination in the category, surpassing Sir Paul McCartney and Lionel Richie, each with six.

And Swift has the chance to make history again if she can bring home Album of the Year, which would mark her 4th win, the most for any artist.

Billie’s Big Night

Taylor Swift isn’t the only artist with a chance to make history. Billie Eilish is up for Record of the Year with her What Was I Made For?. A win would make three, tying her with Paul Simon and Bruno Mars. She would, however, be the first woman and only solo artist to do so; Simon and Mars both collaborated with other artists for at least one of their wins.

New Awards

Three new GRAMMY categories will debut at the 66th Awards: Best African Music Performance, Best Alternative Jazz Album, and Best Pop Dance Recording. These categories are a part of the award show’s effort to be "more fair, transparent and accurate", according to Recording Academy CEO Harvey Mason Jr.

Opportunities In The Market

The GRAMMYs are one of the biggest nights of the year for the music industry. The awards show will bring an increase in attention to the artists and, for savvy investors, the business behind the glitz.

Investing in the music industry can be a smart move as part of a diversified approach. For investors who wish to leave the deep analysis and research to a team of experts, ETFs can be an attractive option.

The MUSQ Global Music Industry ETF MUSQ is a thematic ETF that provides concentrated exposure to the complete music ecosystem, covering streaming, content and distribution, live music events and ticketing, satellite and broadcast radio, equipment and technology, and artificial intelligence. 

The Chart

According to Benzinga's Melanie Schaffer, MUSQ is trading in a possible bull flag pattern on the daily chart, with the upward-sloping pole formed between Jan. 17 and Wednesday and the flag forming on Thursday. If the pattern is recognized, the measured move is about 4.5%, which suggests the ETF could rise toward the $26.30 mark.

On Wednesday, MUSQ negated its downtrend by printing a higher high above the most recent higher low of $25.14. For the ETF to confirm a new uptrend, MUSQ will eventually need to form a higher low, which could take place within a continued flag formation. Bearish traders want to see the ETF drop under the eight-day exponential moving average, which would negate the bull flag pattern. 

Photo by Jorik Kleen on Unsplash