What does it measure?
The AXIOM Global Entertainment Index is a US-dollar total-return benchmark of selected listed companies across the entertainment industry. The current snapshot contains 104 constituents across 16 Index markets. Its base is 1,000 on 4 January 2016.
The aim is to make entertainment-focused businesses visible alongside diversified groups. A market-capitalisation-weighted view can be dominated by very large technology companies whose activities extend far beyond entertainment. The GEI uses a different construction to study the industry.
Four tiers of entertainment relevance
Companies are assigned to four tiers according to how central entertainment is to their business. At a rebalance, Tier 1 receives four weighting units, Tier 2 three, Tier 3 two and Tier 4 one. Companies in the same tier receive the same target weight, irrespective of their market value.
A company's target weight is its tier units divided by the total units assigned to the eligible basket. Between quarterly rebalances, the portfolio holds units of each security and weights move with prices. The target percentages shown on these company pages are therefore not the portfolio's drifting live weights.
Prices, dividends and currencies
The series uses adjusted security prices and converts local-currency values into US dollars. Total return incorporates reinvested distributions through the adjusted series. Currency movements can materially affect a US-dollar return even when a local share price behaves differently.
The company profiles use the selected Index security, which may be an ADR or a local ordinary share. A quotation in GBp means British pence, not pounds. The profile's currency label describes the security; the performance figures remain US-dollar returns. Missing figures are shown as unavailable, not zero.
WBD and Skydance: October 2026 reconciliation
WBD last traded on 5 October. Its old Index holding is valued at the contractual $31.01666668 cash entitlement on 6 October, then redistributed at that session's close. WBD is now a former constituent. The continuing Paramount/Skydance share remains one constituent, quoted as NYSE: SKYD; its historical PSKY identifier and links are retained.
For the warrant distribution with an ex-date of 14 October, the Index uses the issuer-confirmed $2.20 when-issued warrant close from 13 October. The capital-distribution convention adjusts earlier share prices by (9.27 − 2.20) / 9.27, implying reinvestment at the theoretical $7.07 common-share reference. This is an explicit Index convention, not an actual warrant sale or a verified 14 October warrant close. The resulting ex-date share return is about −0.14%, rather than the raw −23.84% drop. The warrant is not a continuing constituent.
Read the dated actions and primary-source evidence, applied factors and version 3.12 correction and measured effects. Original final publications remain in the publication archive; changes are recorded in the restatement register. Current market values are kept separate from operating accounts that predate the acquisition.
Membership and sector comparisons
Membership changes over time. The current constituent directory is a snapshot, not a claim that today's basket existed throughout the reconstructed history. Companies enter and leave according to the dated membership records and the construction rules in the full methodology.
The segment guides apply the Index's own mapping of business categories. A diversified company may operate in several industries while appearing in one reported segment. Segment returns are calculated as sub-indices; they are not simple averages of the returns shown for today's members.
Reconstructed history and the live record
The Index has run live since 2 July 2026. Earlier history is reconstructed, with dated membership and exits where recorded. It is a backtest, not an actual investable performance record. Data availability, classification choices and reconstruction assumptions affect interpretation.
Adjusted vendor prices can change after the initial publication of a close. Read the methodology note and its version history for the treatment of revisions and corrections. A displayed snapshot date is the market-data cut-off; it is separate from the editorial review date on a company profile.
How private-company profiles fit
Profiles of businesses such as Bad Wolf, Fremantle, UFA and LEONINE add production and ownership context. They are not constituents merely because they have a page here. A subsidiary's operating performance and valuation are not measured by its listed parent's stock return.
These profiles summarise public sources and link to the relevant record in Global Entertainment Wire Universe. The Index's public pages and the Wire's subscription research serve different levels of detail. A parent-group description does not establish every legal ownership step or beneficial interest.
Using the benchmark
The Index is an industry research tool, not a fund or an investment recommendation. A stock return is not the same as a company's revenue growth, audience reach or market share. Compare the business mix, listing, currency and period before interpreting differences between companies.
This page is a reading guide. The full methodology note is the detailed reference for eligibility, weighting, rebalancing, data treatment and limitations.