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Fortinet — Shares dropped 23.1% after the cybersecurity company missed earnings expectations and gave a weak outlook for the current quarter. Fortinet posted $1.33 billion in revenue for the third quarter and said to expect between $1.38 billion and $1.44 billion in the current quarter. Both underwhelmed analysts polled by LSEG, who anticipated $1.35 billion in revenue for the third quarter and a current-period estimate of $1.5 billion. Revenue for the third quarter came in at $285.9 million, above the $275 million forecast from analysts polled by FactSet. Meanwhile, the company saw adjusted EBITDA at $6.1 million, while analysts had anticipated a loss of $0.6 million.
Persons: Fortinet, LSEG, Block, Bill Holdings, Bill, Expedia, Nation's, Taylor Swift, FactSet, Carvana, , Wall, Uber, Jesse Pound, Yun Li, Michelle Fox Organizations: Apple —, Paramount, LSEG, Holdings, Revenue, FactSet, & $
REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsCompanies Anthropic FollowAlphabet Inc FollowAmazon.com Inc Follow Show more companiesOct 18 (Reuters) - Music publishers Universal Music (UMG.AS), ABKCO and Concord Publishing sued artificial intelligence company Anthropic in Tennessee federal court on Wednesday, accusing it of misusing an "innumerable" amount of copyrighted song lyrics to train its chatbot Claude. The music publishers' lawsuit appears to be the first case over song lyrics and the first against Anthropic, which has drawn financial backing from Google (GOOGL.O), Amazon (AMZN.O) and former cryptocurrency billionaire Sam Bankman-Fried. The lawsuit accused Anthropic of infringing the publishers' copyrights by copying their lyrics without permission as part of the "massive amounts of text" that it scrapes from the internet to train Claude to respond to human prompts. For example, the lawsuit said that Claude will provide relevant lyrics from Don McLean's "American Pie" when asked to write a song about the death of rock pioneer Buddy Holly. The publishers asked the court for money damages and an order to stop the alleged infringement.
Persons: Dado Ruvic, Claude, Anthropic, Mark Ronson, Bruno Mars, Matt Oppenheim, Sam Bankman, Don McLean's, Buddy Holly, Blake Brittain, David Bario, Bill Berkrot Organizations: REUTERS, Universal Music, Concord Publishing, Beach, Microsoft, Anthropic, Google, Thomson Locations: ABKCO, Tennessee, rightsholders, Washington
"Funflation" refers to higher consumer demand for fun experiences, which inflates the prices of these experiences. Big ticket items in electronics are drawing less consumer interest than Taylor Swift tickets and other fun experiences, Barry said at a Fortune event. AdvertisementAdvertisementCorie Barry, the CEO of electronics retailer Best Buy, thinks that splurging on Taylor Swift tickets and "funflation" is hurting her company's bottom line. Bloomberg analysts estimated in August that Taylor Swift and Beyoncé's concert tours would add around $5.4 billion to the US economy's GDP. Best Buy and Barry did not immediately respond to requests for comment from Insider, sent outside regular business hours.
Persons: Corie Barry, Taylor Swift, Barry, , splurging, Brett, Insider's Sirena Bergman Organizations: Service, Bloomberg, Columbia Business School, Bank of America
"Taylor Swift: The Eras Tour" broke a concert-film box-office record on its opening weekend. The movie pulled in $95 million to $97 million worth of ticket sales, AMC Theatres said. Swift’s tour has given the US economy a big boost in 2023, with even the Federal Reserve noticing its impact. "The Eras Tour" could also break records for the strongest October debut for any film. Its currently neck-and-neck with "Joker", which pulled in $96.2 million worth of ticket sales on its opening weekend back in 2019.
Persons: Taylor Swift, , Justin Bieber's Organizations: AMC Theatres, Reserve, Service, Federal, Bloomberg Economics, AMC, Hollywood Locations: Philadelphia, Monday's premarket
Afterward, I listened to "Summer Renaissance," Beyoncé's reworking of one of my favorite songs, Donna Summer's 1977 disco hit "I Feel Love," on repeat. Beyoncé's daughter, Blue Ivy, dances, as her mother sings behind her on the London, U.K. leg of the Renaissance World Tour in May 2023. Virgin Hotels New Orleans, where I stayed, is only a half-mile from the Superdome stadium, and was well-prepared to host the many concertgoers who stayed there. Members of Beyoncé's Renaissance World Tour band perform at jazz club Snug Harbor in New Orleans, led by saxophonist Kat Rodriguez (second from right). Caesars Superdome stadium in New Orleans is illuminated by thousands of lights attached to audience members' wristbands during Beyoncé's Renaissance World Tour.
Persons: Beyoncé, Kevin Mazur, WireImage, Alexander McQueen, Roksanda, Roksanda Ilincic, Annie Macmanus, Donna Summer's, Blue Ivy, Beyoncé I've, I've, Redmond —, Honey Dijon, Laveau Contraire, Kat Rodriguez, Lucy Handley, Crystal Torres, Tayler Green, Danny Laurino, John Coletti, Hurricane Katrina, Willa Jean, diamante Organizations: Tottenham Hotspur, Tottenham Hotspur Stadium, Parkwood, London, Caesar's, British Airways, Southbank, Virgin Hotels, Preservation Hall, Bank, Getty, Garden, Uptown, Plantations, New, New Orleans police, Vue Orleans, Caesars Locations: London —, Instagram, London, U.K, British, Amsterdam, New Orleans , Louisiana, YOLO, New Orleans, Orleans, Virgin Hotels New Orleans, Bey, Preservation Hall , New Orleans, Snug, Faubourg Marigny, U.S, Mississippi, Louisiana, Beyoncé's
Taylor Swift performs onstage for the opening night of her The Eras Tour at State Farm Stadium in Glendale, Arizona, on March 17, 2023. Starting Friday, Taylor Swift's The Eras Tour film arrives in theaters, and with it comes a certain expectation of exuberance from those in attendance. Since Swift announced the theatrical release of her The Eras Tour, ticket sales have soared. Beyonce's film will see base tickets set at $22 a piece. "Taylor Swift: The Eras Tour" will play in theaters during the weekends through Nov. 5.
Persons: Taylor Swift, Taylor, it's, let's, Swift, presales, It's Organizations: Farm, AMC Entertainment, AMC Locations: Glendale , Arizona
He said Taylor Swift, "Barbenheimer", and Beyoncé had all helped drive growth. AdvertisementAdvertisementThe economy likely surged over the third quarter – and you can thank Taylor Swift, Beyoncé, and the "Barbenheimer" craze for that, according to ING. "We can't argue against [the latest payroll numbers] given the strength we will likely see in third-quarter GDP," he said. AdvertisementAdvertisement"We wouldn't be surprised to see a 4% annualized expansion with Taylor Swift, Beyoncé and Barbenheimer helping to give growth a kick higher," Knightley added. Eras and Beyoncé's "Renaissance World Tour" are expected to add a combined $5.4 billion to the US's third-quarter GDP, according to an estimate from Bloomberg Economics.
Persons: James Knightley, Taylor Swift, Beyoncé, , September's, Knightley, Oppenheimer Organizations: ING, Service, Gross, Product, Federal Reserve, Bloomberg Economics Locations: Philadelphia
Bank of America predicts people will continue to spend big on live entertainment. AdvertisementAdvertisementMaybe the epic summer of Taylor Swift, Beyoncé, and "Barbenheimer" was just the beginning and not just a one-off outlier. On the surface, this contradicts some earlier warnings that while entertainment spending did prop up the economy, it would be fleeting. Bank of America did warn in its report that there is some risk in betting on "funflation" to continue. But if Bank of America's predictions are correct, the economy may feel the effects of entertainment spending despite the diminished sparkle of the performers.
Persons: Taylor Swift, , Beyoncé, Kevin Mazur, Grace Smith, Swift Organizations: of America, Service, Bank of America, Force, Bloomberg, MediaNews, Denver, Getty, Bloomberg Economics Locations: Stockholm, Denver, Swift
Movie theaters will become a Bey Hive this December. Beyonce's appearance on the film calendar is a much-needed boon for the North American box office. Those offerings give Beyonce's movie plenty of room to run at the box office. It's unclear what Beyonce's film could open to in December, as tickets just went on sale Monday. Beyonce's tour looks to top out just above $560 million.
Persons: Taylor Swift's, Shawn Robbins, Beyonce, Aquaman, Paul Dergarabedian Organizations: AMC Entertainment, Parkwood Entertainment, Dolby, AMC, Cineplex, Harkins, North American, Hollywood, Warner Bros, Comscore, Industry
Beyonce's concert film to be distributed globally by AMC
  + stars: | 2023-10-02 | by ( ) www.reuters.com   time to read: +1 min
The film follows a similar release by pop superstar Taylor Swift, whose Eras Tour concert film will be distributed in cinemas in North America starting Oct. 13. The concert films provide cinema chains such as AMC, Cinemark and Cineplex, with high-profile titles to help fill gaps caused by a prolonged strike by actors and writers in Hollywood. AMC's rival Cinemark (CNK.N) also announced that it will play the concert film in its U.S. theaters. Both cinema chains said their standard showtime tickets in the U.S. will start at $22. Entertainment website Variety first reported Beyonce's talks to release "Renaissance" through AMC.
Persons: Beyonce, Mario Anzuoni, Taylor Swift, Cinemark, Beyonce's, Jyoti Narayan, Sharon Singleton Organizations: REUTERS, AMC Entertainment, AMC, showtime, Entertainment, Variety, Thomson Locations: Los Angeles , California, U.S, North America, Europe, Hollywood, United States, Canada, Mexico, Bengaluru
Taylor Swift and Beyoncé are making concert films from their blockbuster Eras and Renaissance tours. In August, Swift announced that an Eras concert film will be released October 13. After much speculation, on Sunday night Beyoncé announced her own concert film: The Renaissance tour's film is set to debut December 1. "Taylor Swift ignited the spark. The Eras film will be released on over 4,000 screens in North America; the Renaissance film likely will have a similar rollout.
Persons: Taylor Swift, , Queen Bey, Swift, Beyoncé, Paul Dergarabedian, Oprah Winfrey, Tyler Perry, Kim Kardashian, George Clooney, Dergarabedian, Puck's Matthew Belloni, Travis Kelce's, Shawn Robbins, Sam Wrench, — Belloni, they've, Michael Jackson's, Justin Bieber, Robbins, Taylor, It's Organizations: Service, Netflix, AMC, Box, Swifts, Office, Swift Locations: North America
NEW YORK (AP) — A documentary chronicling Beyoncé's just-concluded 39-city Renaissance World Tour will premiere in North American theaters Dec. 1, AMC Theaters announced Monday. Like “Taylor Swift: The Eras Tour,” which debuts Oct. 13, “Renaissance: A Film By Beyoncé” is being released directly by AMC, the movie theater chain, without studio involvement. Beyoncé's previous films include the acclaimed 2019 Netflix film “Homecoming," which captured her Coachella performance in 2018. In the deals with AMC, Beyoncé and Swift are both reported to be receiving at least 50% of ticket sales. The film charts Beyoncé's tour on behalf of her 2022 Grammy-winning album “Renaissance.” It mixes concert footage and elements of a visual album while trailing the tour from its launch in Stockholm, Sweden, in May to the finale Sunday night in Kansas City, Missouri.
Persons: Beyoncé's, that's, “ Taylor Swift, , Swift, Beyonce Organizations: AMC Theaters, AMC, Netflix, Billboard Locations: Stockholm, Sweden, Kansas City , Missouri
The US economy showed signs of a soft landing this summer. In September, the Federal Reserve buoyed those hopes by keeping interest rates unchanged for the first time since the first quarter of 2022. At the start of the rate increase, many borrowers, such as existing homeowners, had low mortgage interest rates locked in. As the economist David Rosenberg says, it typically takes six months for a recession to hit the economy after interest rates increase by this much. AdvertisementAdvertisementAnd while Powell said a soft landing is "possible," he also warned that it could be decided by factors "outside our control."
Persons: , Taylor, Oppenheimer, Morgan, David Rosenberg, Eric Thayer, Janet Yellen, Jerome Powell, Powell Organizations: Service, National Association of Business Economics, Bank of America, Federal Reserve, JPMorgan, Costco, Bloomberg, Gas Locations: Monterey Park , California
Beyoncé's Renaissance World Tour may be coming to a theater near you. Makers of a concert film based on the smash-hit concert are reportedly in advanced talks to directly distribute the movie through AMC Theaters , according to a Variety report. The news comes as Taylor Swift's own concert film nears its release date of Oct. 13. The movie, based on her Eras Tour, will be globally distributed through AMC and is set to be a blockbuster. First-day ticket sales for Swift's movie got to $26 million and some estimate the film will top $100 million the weekend it opens.
Persons: Taylor Swift's, Swift Organizations: AMC Theaters, CAA, AMC, Variety Locations: Hollywood
After five months and 53 shows, the economic impact of Swift's "The Eras Tour" was monumental and non-stop. Consider the following:"Taylor Swift's 'Eras' tour is rewriting the playbook of entertainment economics," Chris Leyden, director of growth marketing at SeatGeek told CNN. "It's no surprise that people are flocking to this Eras Tour experience in what is increasingly an otherwise digital environment we live in." AdvertisementAdvertisementOne Swiftie who spoke with Insider called their "Eras Tour" trip "a little bit concert, a little bit vacation." — Taylor Swift, who is releasing a film version of "The Eras Tour."
Persons: Taylor Swift, Swift, Taylor, Chris Leyden, SeatGeek, She's, , Omar Vega, Alice Enders, Grace Smith, Andrew Heilmann, Robert Douglas, Cork, Oppenheimer, Klaus Vedfelt Piper, Nancy Lazar, Lazar, Barbie, — Taylor Swift, Charlie Harding Organizations: Service, CNN, Bloomberg News, Enders Analysis, World Trade Organization, MediaNews, Denver, Getty, Moody's, Cork Gaines, Bloomberg, Global, Fox News Digital, WGA Locations: Wall, Silicon, Arlington , Texas, LA, , Hollywood
He runs the exclusive community and concierge service app Myria. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. I created Myria, a community and concierge for ultra-high-net-worth individuals in 2021. There's a community for members to connect with one another through our app, and there's an access side where they can get off-market luxury experiences. Myria started with the network I've developed over 17 yearsBefore launching Myria, I set up and ran an offline concierge service called The Blue.
Persons: Rey, I've, Myria, Pitbull, Justin Timberlake, Paul Tudor Jones Organizations: Fortune, Service, Rey Flemings, Apple, FedEx Locations: Las Vegas, Wall, Silicon, Coachella, Palm Springs, Memphis , Tennessee
Never had a concert inspired me so much that I wanted to change my entire approach to life. Earlier this month, I spent a combined $2,580 on tickets, travel and hotel to see her perform in Las Vegas on my 24th birthday. I sang "Halo" in front of my 3rd grade classmates, and learned Beyoncé's entire Coachella set in my college dorm room. But seeing her perform at the Allegiant Stadium alongside her daughter, Blue Ivy Carter, shifted my entire outlook on life, work and happiness. "Beyoncé's show left me feeling so inspired and motivated to do more with my passions," one person wrote.
Persons: Beyoncé, Blue Ivy Carter Organizations: Sears Locations: Las Vegas
New York CNN —The Queen, better known as Beyoncé, had a dress code in mind for Renaissance tour concert goers attending her “House of Chrome,” as she described her concerts. Unprecedented salesAt a pivotal moment during each concert, Beyoncé flicks her wrist and pans out her black handheld fan. A group of fans pose for a portrait before entering Beyoncé's Renaissance World Tour on Friday, Sept. 1, 2023 in Inglewood, CA. “I did not see them becoming my best seller, much less my by-far-best-seller, because of something as random as a concert tour,” Fritts said. That demand was quickly replaced with silver bedazzled shades earlier this month after Beyoncé’s silver announcement.
Persons: Etsy, Taylor, , ” VenuezNVibez, , Beyoncé, Erin Fritts, she’s, Taylor Swift, it’s, ” Fritts, Jason Armond, Fritts, Sydney Baloue, ” Baloue, Tracy Swank, Swank, DaKeitha Bennett, I’ve, ” Bennett Organizations: New, New York CNN, Chrome, New York Times, CNN, Los Angeles Times Locations: New York, , Charlotte , North Carolina, Inglewood , CA, Florida, California, Baltimore, Etsy, Flint , Michigan
Taylor Swift is providing a gold rush for the hotel industry. The "Cruel Summer" singer's attention-grabbing "Eras" tour has pushed up revenue for hotels in cities across the U.S., according to data from investment firm Bernstein. "This has been a notable boost to the hotel industry," Bernstein analyst Richard Clarke wrote in a note to clients Friday, using the term "Swiftonomics." (Revenue generated per room is calculated by dividing the total hotel revenue by number of available rooms, regardless of whether they were occupied.) Indeed, Clarke said occupancy was 11% higher in Philadelphia during the nights of Swift's tour, while revenue per available room was up 59% on average.
Persons: Taylor Swift, Bernstein, Richard Clarke, Clarke, Swift Organizations: Wall, Federal Reserve Locations: U.S, Nashville, Beyoncé's, Philadelphia
REUTERS/Mike Blake/File Photo Acquire Licensing RightsNEW YORK, Aug 31 (Reuters) - "Barbenheimer" - the twin-bill summer box office phenom - sure helped to drive U.S. consumers back to cinemas last month, but movie-going is still struggling to catch up to other recreational spending categories post-pandemic. While that helped long-suffering box office receipts, it made less of a splash for overall consumer spending when compared to larger categories like clothing and household furnishings, economists at Oxford Economics said. It made a big difference in the live-event spending area though, at least for the moment. This summer’s box office has been out of the ordinary with ticket sales for the season up $500 million from last summer’s sales, according to data firm Box Office Mojo. While other categories of live-event spending have fully recovered from the hit delivered by pandemic shutdowns, film attendance outlays remain at roughly 65% of their pre-COVID levels.
Persons: Mike Blake, Oppenheimer, Michael Pearce, Taylor, Amina Niasse, Dan Burns, Andrea Ricci Organizations: REUTERS, Commerce Department, Warner Bros, Oxford Economics, Graphics, Mojo, Sporting, Federal Reserve Bank of Philadelphia, Gillette, Billboard, Thomson Locations: Los Angeles , California, U.S, Massachusetts
Local economies across the US are enjoying the boost brought by women's spending this summer. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. He also added that the pay gap between women and men is the narrowest it's ever been, especially among younger generations. Overall, Fortune estimated, the economy could benefit by about $3.1 trillion if women were afforded more opportunities and equity was increased. AdvertisementAdvertisementChevalier-Jordan said many women are in a good position to assume more power in spending as their rate of higher education completion rises.
Persons: Taylor Swift's, Forbes, , Swift, Curt Long, National Business Capital Brian Chevalier, Jordan, Chevalier, we've, Beyoncé, Taylor Swift Organizations: Service, National Association of, CNBC, National Business Capital, — Fortune, Fortune Locations: Wall, Silicon, Cincinnati , Ohio, Sweden
Stick with us, and we'll show you the best options for where to buy Beyoncé tickets today. The 2023 Renaissance World Tour kicked off with an international leg in Sweden on May 10, 2023. If you're aiming to buy tickets for the final performances of Beyoncé's Renaissance World Tour, we've got you covered. See also: Where to buy Bruce Springsteen ticketsBeyoncé 2023 Renaissance tour scheduleThe Renaissance World Tour still has 13 concert dates across nine cities, including three shows in Inglewood, California. Vivid Seats offers similar price ranges for standard Renaissance World Tour tickets, ranging from about $100 in Las Vegas to $375 in Houston.
Persons: Beyoncé, Bey, we've, Bruce Springsteen, Santa, Kevin Mazur Organizations: Las, Kansas City, Ticketmaster, Vivid, Beyoncé's, showtime Locations: Sweden, North America, United States, Canada, StubHub, Inglewood , California, Vancouver, Houston , Texas, Las Vegas, Santa Clara, Inglewood, CA, BC, Seattle, WA, Arlington, TX, Houston, Orleans, LA, Kansas, Las Vegas , Nevada, Stockholm, Beyoncé's, Kansas City , Missouri
The delay left fans sweltering in hot and humid conditions as they waited for word on what was happening. “Due to lightning in the area, we are currently under a shelter in place order. The situation inside the stadium was confusing and chaotic, said CNN’s Abby Phillip, who was among the fans packing the venue. “It was one of those moments where it was a great concert, but that experience was a little bit scary,” Phillip added. More than 120 million people in the Eastern US are at risk of severe thunderstorms Monday, while heat waves in the South continue their record streaks.
Persons: , Abby Phillip, ” Phillip, Phillip, Rob Shackelford Organizations: CNN, Metro, Washington Metropolitan Area Transit Authority, Twitter, WJLA, South Locations: Washington, DC, FedExField, Metro
CNN —Tina Knowles has appeared to refute the theory that her daughter Beyoncé dropped mentioning Lizzo on tour because of a lawsuit. The lyrics to the song include references to “Betty Davis, Solange Knowles, Badu, Lizzo, Kelly Rowl,’ Lauryn Hill, Roberta Flack” and other prominent women, which Beyoncé recorded with Madonna. That led some to believe the superstar was distancing herself from Lizzo. Knowles jumped in the comments on an Instagram post about the alleged snub. “She also didn’t say her own sister’s name yal [sic] should really stop,” Knowles wrote.
Persons: Tina Knowles, Beyoncé, Lizzo, Betty Davis, Solange Knowles, Badu, Kelly Rowl, Lauryn Hill, Roberta Flack ”, Knowles, ” Knowles Organizations: CNN
People are sharing screenshots of "listening only" tickets for Beyoncé's Renaissance Tour on Ticketmaster. One fan risked it and told Insider he actually ended up with the "perfect view." Tickets for Beyoncé's Renaissance tour are highly sought after and can get expensive. Like Swift's Eras Tour, Beyoncé's Renaissance Tour is one of the most talked-about tours of the summer. Forbes estimates that the Renaissance tour could earn between $275 million and $2.4 billion by the end of September.
Persons: Twinkabellesmom, Ryan Bloomquist, Bloomquist, would've, Taylor Swift Organizations: Ticketmaster, Metlife, Twitter, Forbes Locations: East Rutherford , New Jersey, NJ, New Jersey, Europe, North America
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