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☆ Streaming is getting more expensive for consumers. Here's why
▼ + stars: | 2024-08-16 | by ( Justine Fisher | ) www.cnbc.com time to read: +7 min

Now, looking for a return on their content investments, Disney , Warner Bros. Disney said last week that its combined streaming services — Disney+, Hulu and ESPN+ — were profitable for the first time during its fiscal third quarter. Ahead of earnings, Disney announced it's raising streaming prices by $1 to $2 a month for Hulu, Disney+ and ESPN+. Similar to Disney, Paramount Global said last week in its quarterly earnings conference call that its streaming business, centered on flagship service Paramount+, reached profitability. Discovery said during its second-quarter earnings conference call that streaming ad revenue doubled year over year.

Persons: Jaque Silva, Mike Proulx, Disney, Bob Iger, Iger, Discovery's Max, Comcast's Peacock, Gunnar Wiedenfels, Forrester's Proulx, Proulx, Discovery's Wiedenfels, Discovery, Tim Nollen, Ted Sarandos, Sarandos Organizations: Netflix, Disney, Warner Bros . Discovery, Forrester, Hulu, ESPN, Warner Bros, Paramount, Paramount Global, Discovery, Max, Hub Entertainment Research, Getty, Media, Macquarie, Westend61 Locations: Paramount's, Peacock

☆ Arsenal names Athletic Brewing as official nonalcoholic beer partner
▼ + stars: | 2024-08-06 | by ( Justine Fisher | ) www.cnbc.com time to read: 1 min

Athletic Brewing Company is the official nonalcoholic beer partner of Arsenal F.C. Athletic Brewing Company has scored a partnership with Arsenal, becoming the English soccer team's first official nonalcoholic beer partner. Arsenal will feature Athletic Brewing's Run Wild IPA at Emirates Stadium for both men's and women's matches, and Athletic Brewing will launch a marketing campaign and a series of promotions in return, according to a press release. Run Wild IPA is less than 0.5% alcohol by volume, or ABV. The deal represents an opportunity for America's largest nonalcoholic brewery to expand in the U.K.

Persons: soccer team's Organizations: Athletic Brewing Company, Arsenal F.C, Arsenal, soccer, Emirates, Athletic Brewing

☆ Disney raises streaming prices for Hulu, Disney+ and ESPN+
▼ + stars: | 2024-08-06 | by ( Justine Fisher | ) www.cnbc.com time to read: +2 min

The atmosphere at the Disney Bundle Celebrating National Streaming Day at The Row in Los Angeles on May 19, 2022. Starting mid-October, most plans for Disney+, Hulu and ESPN+ will cost $1 to $2 more per month, according to a press release Tuesday. Hulu with ads will cost $9.99 monthly, while Hulu without adds will cost $18.99 per month. For some time, Disney has offered a bundle of its own services, either Hulu and Disney+, or the two streaming services plus ESPN+. Discovery to offer a bundle, which will include Disney+, Hulu and Max.

Persons: Alisa Bowen Organizations: Disney, Hulu, ESPN, Warner Bros, Max, ABC News Locations: Los Angeles

Molly Solomon, NBC's executive producer of the Olympics, referred to Snoop Dogg as an "ambassador of happiness" during a press call this week. Pumped-up audienceNBCUniversal had been banking on the success of the Paris Olympics, and Snoop Dogg, for the past few years. The following year, NBC's executives met with Snoop Dogg to discuss his future place in the Olympics broadcast, she said. Ahead of the Games, Snoop Dogg was also present at the Olympic trials earlier this summer, and since then has popped up in various places. Snoop Dogg cheers the USA team for women's gymnastics at the 2024 Paris Olympics.

Persons: Snoop Dogg, Arturo Holmes, Molly Solomon, We've, Snoop, Solomon, Denis, Victoria Valdivia, Hans Lucas, Billie Jean King, Caeleb, Michael Phelps, Krissy Birdsall, NBCUniversal, Kevin Hart, Peacock, Dogg, Carl Recine, NBC's, Mike Tirico, …, Tirico, Kelly Clarkson, Peyton Manning, Ralph Lauren, Kendall Wright, Coco Gauff, Kelly Cheng, Wally Skalij, it's, John Fortunato, Alex Cooper, Jenna Mindes, we've, Rick Cordella, Bob Costas, Al Michaels Organizations: Bercy Arena, Getty, NBC, Comcast, Games, AFP, Team USA, University of Wisconsin, Paris Olympics, Tokyo Games, Eiffel, CNBC, Olympics, National Football League, Northwestern University, USA, Los Angeles Times, Fordham University Gabelli School of Business, NBC Sports, Paris Locations: Paris, U.S, Paris —, Seine, France, Victoria, Madison, Tokyo, USA, Woodcliff Lake , New Jersey, Minneapolis

☆ Olympics draws new investments to niche sports and women's teams
▼ + stars: | 2024-08-02 | by ( Justine Fisher | ) www.cnbc.com time to read: +1 min

The 2024 Paris Olympics are attracting new funds for lesser-known sports and women's teams, with USA women's rugby sevens, water polo and women's track and field scoring major contributions this year. The USA women's rugby sevens team earned a $4 million gift from investor Michele Kang earlier this week. Flavor Flav announced a five-year partnership with USA water polo, which includes funds for the 2024 USA women's team as well as serving as the "official hype man" for both the men's and women's teams. The USA women's water polo team has won gold for the past three Olympics, and Flavor Flav aims to elevate their visibility. The partnership includes his commitment to boosting USA water polo on social media, beyond cheering poolside.

Persons: Michele Kang, Flav, Alexis Ohanian, Serena Williams, wasn't, Maggie Steffens, poolside Organizations: Team United States, Women's Rugby, Team Australia, Olympic Games, Stade de France, USA women's, USA women's rugby, USA Locations: Paris, France, USA

☆ Food delivery fees are rising, and everyone's feeling the pinch
▼ + stars: | 2024-07-27 | by ( Justine Fisher | ) www.cnbc.com time to read: +11 min

Third-party food delivery is becoming the norm for American consumers, as delivery apps like Grubhub, DoorDash and Uber Eats take hold in day-to-day dining. It's also presenting customers and restaurants with an increasingly complicated equation of service fees, delivery costs and worker tips. San Francisco resident Zainab Batool, who said she orders delivery from either Uber Eats or DoorDash weekly, called the added fees "insane." The share of consumers choosing third-party delivery services over direct restaurant delivery is rising, up from 15% in 2020 to 21% in 2024, according to Technomic's 2024 Delivery & Takeout Consumer Trend Report. But using their delivery services instead of paying for in-house delivery is worth it for a business on the smaller side, he said.

Persons: Luiz C, Ribeiro, Uber, It's, Zainab Batool, Batool, Gordon Haskett, Grubhub, it's, DoorDash, Covid, Spencer Platt, they've, Shelle Santana, Lindsey Nicholson, Tony Scardino, Pizza, He's, Scardino, Meredith Sandland, Ann, Phillis Engelbert, Engelbert, Gabby Jones Organizations: Ribeiro | New York Daily News, Tribune, Service, Getty, Gordon Haskett Research Advisors, Companies, U.S . Mobility, Uber, Bentley University, Grubhub Marketplace, UCG, Amazon, Bloomberg Locations: Manhattan, Ribeiro |, Francisco, Amsterdam, California, New York City, U.S, Canada, Illinois, Chicago, Ann Arbor , Michigan, Detroit

☆ Hasbro beats second-quarter estimates, goes 'all in' on digital gaming segment
▼ + stars: | 2024-07-25 | by ( Justine Fisher | ) www.cnbc.com time to read: +2 min

Toy company Hasbro beat Wall Street expectations for the second-quarter on Thursday, thanks in part to growth in its digital gaming segment. Though Hasbro's revenue declined 18% overall for the quarter, its Wizards of the Coast and digital gaming segment saw 20% revenue growth. Hasbro attributed the revenue increase for Wizards of the Coast and digital gaming to the launch of MAGIC's card game, Modern Horizons 3, and the continued impact of licensed and digital gaming, with Monopoly Go! CEO Chris Cocks said during the company's earnings call that it continues to invest in its digital gaming portfolio, highlighting the recent appointment of John Hight as president of Wizards of the Coast and digital gaming. The company estimates a total adjusted EBITDA for the full year of between $975 million and $1.025 billion.

Persons: Chris Cocks, John Hight, John, we're, " Cocks Organizations: Hasbro, Austin , Texas . Toy, LSEG, Wizards, Monopoly Locations: Austin , Texas

☆ DOT investigating Delta over IT outage chaos
▼ + stars: | 2024-07-23 | by ( Justine Fisher | ) www.cnbc.com time to read: +2 min

Delta Airlines passengers line up for agent assistance at Hartsfield-Jackson Atlanta International Airport on July 22, 2024 in Atlanta, Georgia. The U.S. Department of Transportation's Office of Aviation Consumer Protection is investigating Delta Air Lines over chaos sparked by last week's global IT outage, according to a statement. The DOT cited widespread flight disruptions and customer service failures in which Delta did not uphold commitments to its passengers, it said. On Tuesday, 12% of Delta flights were canceled and 13% were delayed as of mid-morning, according to FlightAware, with some passengers still stranded in airports even days after the outage. The DOT penalized the airline $140 million, a sum 30 times larger than any previous consumer protection violations penalty from the department.

Persons: Pete Buttigieg, Ed Bastian, Rahul Samant, Bastian Organizations: Delta Airlines, Hartsfield, Jackson Atlanta International Airport, The U.S . Department of Transportation's, of Aviation, Protection, Delta Air Lines, Delta, Microsoft, Social, Southwest Airlines Locations: Atlanta , Georgia, The, Atlanta and Minneapolis

☆ Darden Restaurants to acquire Chuy's for approximately $605 million
▼ + stars: | 2024-07-17 | by ( Justine Fisher | ) www.cnbc.com time to read: +1 min

Darden Restaurants will acquire Chuy's Holdings for approximately $605 million in cash, the companies announced jointly on Wednesday. Darden agreed to acquire all outstanding shares of Chuy's at $37.50 per share, according to a press release. "Based on our criteria for adding a brand to the Darden portfolio, we believe Chuy's is an excellent fit that supports our winning strategy," Darden CEO Rick Cardenas said in a statement. "I am excited to welcome their 7,400 team members to Darden and diversify the Darden portfolio into a new dining category." Cardenas said in the press release that Chuy's has strong performance and growth potential.

Persons: Darden, Chris Steak, Rick Cardenas, Cardenas, Chuy's, Steven Hislop Organizations: Chuy's Holdings, Wednesday, Chuy's, Olive Garden, LongHorn, Darden Locations: Olive, Austin , Texas

☆ Audi strikes multiyear partnership with MLS' Inter Miami CF
▼ + stars: | 2024-07-11 | by ( Justine Fisher | ) www.cnbc.com time to read: +1 min

Volkswagen-owned Audi has struck a multiyear partnership with Inter Miami CF as the team's official automotive partner. Audi is driving up its sports investments and becoming the official automotive partner of Inter Miami CF. Inter Miami CF president of business operations Xavier Asensi said elements of the partnership are ongoing as opportunities arise. He said Inter Miami CF aims for a long-term partnership where the two companies can build together. Audi has been the official automotive partner of Major League Soccer since 2015, and Cotter said the automaker hopes to continue to build its soccer portfolio.

Persons: Emilie Cotter, They've, Cotter, Xavier Asensi, Asensi Organizations: Volkswagen, Audi, Inter Miami CF, South, Audi of America, Inter Miami, Major League Soccer Locations: South Florida, Cotter

☆ Why so many Olympic hopefuls are running in all-black, unbranded gear
▼ + stars: | 2024-06-29 | by ( Justine Fisher | ) www.cnbc.com time to read: +2 min

Christopher Royster, left, and JT Smith, athletes who participate in Bandit Running's Unsponsored Project, at the 2024 Olympic trials in Eugene, Oregon. There's an army of unsponsored athletes commanding attention at the U.S. Track & Field Olympic Trials this year, decked out in all-black, logo-less gear. Unsponsored athletes in track and field would typically purchase their own apparel bearing the emblems of major brands, effectively providing free advertising for the companies. Instead, Bandit Running offers Olympic hopefuls the all-black kits and warmups — along with short-term endorsement deals. After winning a gold medal in the 2016 Rio Olympics and being sponsored by Nike for four years, Okolo, 30, is embracing the Unsponsored Project.

Persons: Christopher Royster, JT Smith, There's, Tim West, Bandit, Bandit's, West, Courtney Okolo Organizations: U.S, West, CNBC, Nike Locations: Eugene , Oregon, U.S

☆ Tesla loses its EV quality edge as repair problems continue to plague the market
▼ + stars: | 2024-06-27 | by ( Justine Fisher | ) www.cnbc.com time to read: +3 min

A dog looks out the window from a Tesla electric vehicle charging at a Tesla Supercharger location in Santa Monica, California on May 15, 2024. Last year, the U.S. EV leader received a rank of 257 problems per 100 vehicles, compared with 265 problems per 100 vehicles on average for EVs from traditional automakers. Across the broader industry, not just BEVs, Tesla has consistently ranked toward the bottom in initial quality since J.D. BEVs averaged 266 problems per 100 vehicles, 86 points higher than gas- and diesel-powered vehicles, which averaged 180 problems per 100 vehicles, according to the study. "It is not surprising that the introduction of new technology has challenged manufacturers to maintain vehicle quality," Hanley said.

Persons: Tesla, Power, Power Frank Hanley, Hanley, — CNBC's Michael Wayland Organizations: J.D, Tesla, Auto, Apple, Android Locations: Santa Monica , California, J.D ., U.S

☆ Drug prices have risen almost 40% over the last decade, according to a new tracker
▼ + stars: | 2024-06-27 | by ( Justine Fisher | ) www.cnbc.com time to read: +2 min

The average American spends $16.26 out of pocket per prescription, according to the data. "Rising costs or rising prices are a big part of it, but it's really that with the combination of increased friction. On average, Americans pay 2 to 3 times more for prescription drugs than consumers in other developed countries, according to the White House. The Biden administration has taken several measures to lower out-of-pocket drug expenses. On Wednesday, the White House announced it would lower prices on 64 prescription drugs for some Medicare beneficiaries as a result of inflation penalties on drugmakers.

Persons: Tori Marsh, GoodRx, Marsh, Joe Biden, Biden, Scott Wagner, — CNBC's Annika Kim Constantino Organizations: House, White House Locations: U.S

☆ Mattel's Uno and other popular games will become colorblind accessible
▼ + stars: | 2024-06-25 | by ( Justine Fisher | ) www.cnbc.com time to read: +1 min

Mattel aims to make 80% of its games colorblind accessible by the end of the year, before raising that amount to 90% in 2025, the company announced Tuesday. Mattel said the move is part of an inclusivity effort and will target some of its most popular products, including Uno, Phase 10, Dos, Blokus and Tumblin' Monkeys games, according to a press release. Mobile versions of the card games will be updated with new symbols for colorblind identification, such as squares and triangles, according to the release. The new 'Beyond Colors' mobile decks are being led by Mattel163, Mattel's joint mobile game developer and publisher venture with NetEase . Mattel said it will donate colorblind accessible products to local YMCA summer camps to celebrate this milestone.

Persons: Mattel, Mattel163, Games Ray Adler Organizations: Mattel, NetEase, Cleveland Clinic, Global, Games

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