Stock markets have had a great run in 2013, but shares of Live Nation and Pandora have fared even better. Live Nation shares are up 46% this year. Pandora shares are up an incredible 78%.

Some of the companies’ gains can be attributed to the rise in the broader markets. The composite for New York Stock Exchange, where Live Nation trades, is up about 13% this year The Nasdaq, where Pandora trades, is up over 14% this year. The Dow and S&P 500 both closed at all-time highs Tuesday. The Federal Reserve’s quantitative easing may not have turned around the country’s employment, but interest rates are low and stocks are soaring.

A good portion of both company’s gain probably comes from the rise in their sectors. Neither Live Nation nor Pandora is exactly like a multi-faceted media company such as News Corp, but both have business models that either acquires (Live Nation) or licenses (Pandora) content. Media companies that create, buy and license content have been on a tear this year. Viacom is up 32%, News Corp is up 31% and Time Warner is up 27%. SiriusXM Radio, which also licenses much of its content, is up 22%.

Live Nation’s gain reflects the state of the concert industry and its growth in recent years. The weak summer of 2010 concert season is in the industry’s rear-view mirror. The economy is in a better situation and people are attending live events. (Case in point: Madison Square Garden Company shares are up 33% this year.) Live Nation is also a larger company than it was a year or two ago. Acquisitions of promoters, such as this year’s deals for EDM promoters HARD Events and Insomniac, show Live Nation has filled gaps in its business. Acquisitions of ticketing companies (Spain’s ServiCaixa in 2011, France’s Ticketnet in 2010) show the company has added to its profitable ticketing operation.

Read the full story: Billboard