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☆ How the 'Oh-oh-oh Ozempic' commercial song made a musician $1 million
▼ + stars: | 2024-04-09 | by ( Peter Kafka | ) www.businessinsider.com time to read: +1 min

David Paton's 1974 song "Magic" has been repurposed as the theme for Novo Nordisk's Ozempic campaign. Paton, his late bandmate's estate, and Sony Publishing have all profited from this, with Paton likely earning seven figures. This illustrates the ongoing high investment in artists' back catalogs, fueled by streaming growth and commercial usage. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . And now a new version of "Magic" has become the theme song for Novo Nordisk's Ozempic rollout in the US, which is blanketing TV and the internet with this earworm:

Persons: David Paton's, Paton, —, David Paton Organizations: Nordisk's Ozempic, Sony Publishing, Service, Novo Nordisk's

☆ Apple wants to make more smart home devices — which may not be dumb
▼ + stars: | 2024-04-08 | by ( Peter Kafka | ) www.businessinsider.com time to read: +4 min

In the meantime we may see something decidedly less ambitious out of Apple: New iPads. It would be like a more portable Facebook portal. And while I've never heard of the Google Pixel, I had heard of the Facebook Portal, and... Facebook doesn't sell those anymore. On the other hand: My colleague Katie Notopoulos loved the Facebook Portal. But you never know: I spent decades not wearing a watch, and now if I forget to put on my Apple Watch before I leave the house I get anxious about losing my steps for the day.

Persons: —, Tim Cook, Bloomberg's Mark Gurman, Gurman, Apple, hasn't, I've, Katie Notopoulos Organizations: Apple, Service, Google, Facebook, Apple Watch

☆ Today's the day Warner Bros. Discovery can sell itself. Buyers may be hard to find.
▼ + stars: | 2024-04-08 | by ( Peter Kafka | ) www.businessinsider.com time to read: +1 min

Monday is an important day for Warner Bros. Discovery: It can now sell itself without a tax penalty. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. But if you're a media investor, banker, or someone who thinks like them, there's a different significance: It's the End of Warner Bros. Let's put that in English: Monday is the second anniversary of the deal that combined Discovery Networks with WarnerMedia, the conglomerate that includes HBO and CNN and was previously owned by AT&T.

Persons: —, there's, Let's Organizations: Warner Bros, Service, Discovery Networks, WarnerMedia, HBO, CNN, AT

☆ Instagram makes more ad money than YouTube, new court filings reveal
▼ + stars: | 2024-04-05 | by ( Peter Kafka | ) www.businessinsider.com time to read: +1 min

Instagram generated $32.4 billion in ad revenue in 2021, making up 27% of Meta's total revenue. Instagram's ad revenue was higher than Google's YouTube, which generated $28.8 billion. AdvertisementWe already knew that Instagram is a giant app that makes up a significant chunk of Meta's overall business. More context: Instagram made more money selling ads that year than Google's YouTube, which generated $28.8 billion in ad revenue. (Analysts at MoffettNathanson peg YouTube's overall revenue for that year at $35.4 billion, after factoring in the money it makes from its music and TV subscription services.)

Persons: Meta, — Organizations: YouTube, Service, Business

☆ Apollo's Leon Black says he is so wealthy he didn't know he'd paid Jeffrey Epstein $158 million
▼ + stars: | 2024-04-05 | by ( Peter Kafka | ) www.businessinsider.com time to read: +1 min

Why did billionaire Leon Black pay Jeffrey Epstein $158 million for estate-planning advice? Black has an answer: He wasn't keeping track of it; $158 million doesn't mean much to him. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Or, at least, that's what financier Leon Black says about his relationship with disgraced pedophile Jeffrey Epstein. This story is available exclusively to Business Insider subscribers.

Persons: Leon Black, Jeffrey Epstein, Black, —, Black's, Epstein Organizations: Service, Business

☆ To the moon! Suddenly the crypto market is back to its bubble-era peak.
▼ + stars: | 2024-04-05 | by ( Peter Kafka | ) www.businessinsider.com time to read: +1 min

Crypto investing peaked in November 2021But now crypto is nearly back to those levels. It's hard to explain why crypto is back, which means it could just as easily go away again. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Let me be more specific: There's not a ton of visible interest in people pitching cryptocurrency as the building block for technologies that will reorder the world. But there's a ton of visible interest in buying cryptocurrencies.

Persons: Crypto, —, Sam Bankman Fried Organizations: Service Locations: Miami, cryptocurrencies

☆ Maybe you hate TikTok shopping posts. Most people don't care.
▼ + stars: | 2024-04-04 | by ( Peter Kafka | ) www.businessinsider.com time to read: +3 min

Related storiesBut TikTok says it doesn't care what Katie or anyone else has to say — it's going to keep pushing shopping posts. AdvertisementMarni Levine, who runs TikTok's US shopping operations, says she's "not considering" pulling back on shopping posts. On the other hand: Maybe most TikTok users are totally fine with shopping stuff. It's not that users aren't noticing the shopping posts — 62.5% noticed an uptick in the posts over the last six months. And as far as the other shopping posts I'm not interested in, which is basically all of them?

Persons: —, Katie Notopoulos, TikTok, Katie, Marni Levine, I've, John, Hank Green Organizations: Service, Business Locations: TikTok

☆ Bob Iger has one really, really important thing left to do
▼ + stars: | 2024-04-03 | by ( Peter Kafka | ) www.businessinsider.com time to read: +1 min

Bob Iger seems to have convinced investors that he's really turning Disney around. But he won't get a final grade until he does the one thing he's been very bad at — finding a successor. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementOK, Bob Iger.

Persons: Bob Iger, —, Nelson Peltz, what's Organizations: Service, Partners, Disney, Epic

☆ Disney proxy battle is about a lot more than just two board seats
▼ + stars: | 2024-04-03 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

As for the newsletter, in today's big story, we're breaking down Disney's big proxy fight . Activist investor Nelson Peltz's proxy fight against Disney for two seats on the company's board comes to a head at its annual shareholder meeting today. The total amount spent between Disney and its rivals wrangling votes is estimated to be at least $70 million, a record for a proxy fight. The statue of Walt Disney and Mickey Mouse at Cinderella Castle at the Magic Kingdom, at Walt Disney World, in Lake Buena Vista, Florida. 3 things in businessWin McNamee/Getty Images; Chelsea Jia Feng/BIIn other newsAdvertisementWhat's happening todayThe Walt Disney Company's annual meeting will be held today.

Persons: —, Congrats, ya, Bob Iger, Nelson Peltz, Neilson Barnard, David A, Grogan, Nelson, Madeline Berg, BI's Peter Kafka, BI's Grace Eliza Goodwin, Walt Disney, Mickey Mouse, Joe Burbank, Rowe Price, Peltz's Trian, Neuberger Berman, Peltz, It's, Trian, they're, Stocks, Ray Dalio, it's, Quincy Krosby, Jeffrey Buchbinder, Alyssa Powell, Win McNamee, Chelsea Jia Feng, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, National, Getty, Disney, Magic, Walt Disney World, Orlando Sentinel, Tribune, Wall, BlackRock, Peltz's Trian Partners, California Public Employees, Financial Times, DuPont, Fed, JPMorgan, Bridgewater Associates, Astera Labs, Arm Holdings, LPL Financial, Apple, Nvidia, BI, Walt Locations: —, Virginia, Lake Buena Vista , Florida, China, Haiti's, New York, London

☆ How many users does Donald Trump's social media company have? He won't say.
▼ + stars: | 2024-04-01 | by ( Peter Kafka | ) www.businessinsider.com time to read: +4 min

Read previewThe stock price for Trump Media & Technology Group Corp — Donald Trump's social media company — dropped by nearly 25% on Monday. There are zero people who care about the business prospects of Trump Media & Technology Group who were unaware it was a bad business. And Trump Media & Technology Group? The numbers Trump's social media company are willing to share with investors illustrate that it's a lousy business. So the next time Trump Media stock tanks — a bet a lot of people have already made — feel free to imagine a good reason why.

Persons: —, Donald Trump's, Donald Trump, Elon Musk, It's, Per Trump, isn't, I've Organizations: Service, Trump Media & Technology Group Corp, Trump Media & Technology, —, Trump Media & Technology Group, Business, Trump Media, Elon, Twitter

☆ Where are the Apple Vision Pro's killer apps?
▼ + stars: | 2024-04-01 | by ( Peter Kafka | ) www.businessinsider.com time to read: +4 min

Where's the killer app for the Apple Vision Pro? AdvertisementRemember back in February, when Apple launched its Apple Vision Pro headset and there was a flurry of interest in the $3,500 goggles? He notes that when Apple Vision Pro launched in February, it had four immersive video experiences available, and now there are … five. It's worth noting that Thompson isn't an Apple Vision Pro naysayer. And maybe that will happen (though people expecting an Apple Vision Pro that looks and weighs like a pair of Ray-Bans may not ever get what they want).

Persons: Ben Thompson, Apple, —, I've, Thompson, It's, you've, it's Organizations: Apple, Tech, Service, Apple Vision, NBA, Apple Vision Pro

☆ Disney and its rivals are breaking spending records for this week's shareholder fight
▼ + stars: | 2024-04-01 | by ( Peter Kafka | ) www.businessinsider.com time to read: +2 min

Disney's proxy battle is expected to cost the company and rival hedge funds at least $70 million. Retail investors make up a big chunk of Disney shareholders, and it's expensive to reach them. The outcome of the shareholder vote could change Disney's direction, but its impact is still unclear. AdvertisementThis week's big Disney shareholder vote is supposed to be a seismic event — a referendum on the future of one of the world's most important entertainment companies. But we can definitively say that the Disney proxy battle, which concludes on Wednesday, has been a nice boost for a collection of consultants and media companies.

Persons: —, — Nelson Peltz's, Bob Iger Organizations: Disney, Service, New York Times, Vanguard, Partners, Okapi Partners, Business

☆ Meme stocks are back in fashion. Here's how to find one.
▼ + stars: | 2024-04-01 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're breaking down how to identify a meme stock . Three years after GameStop upended things, meme stocks are back in fashion. But how does one find a meme stock? (Trump Media doesn't technically qualify as a meme stock under Sosnick's criteria due to the amount of low short interest. Maintaining long-term support for a meme stock remains a tough nut to crack.

Persons: —, Mark Zuckerberg, Satya Nadella, Jenny Chang, Rodriguez, There's, Steve Sosnick, Business Insider's Matthew Fox, David Becker, Chelsea Jia Feng, Donald Trump's, Trump, Bill Gross, BI's Peter Kafka, there's, it's, Pedro Ribeiro Simões, …, Matt Chase, they're, OpenAI's Sam Altman, Sora, Meta, Tyler Le, Jack Canfield's, Jay Marine, Amazon's, Jeff Bezos, Antony Blinken, Emmanuel Macron, Dan DeFrancesco, Hallam Bullock, Grace Lett, Lisa Ryan Organizations: Business, Service, Getty, GameStop, Interactive, Business Insider's, Trump Media, Technology Group, AMC Entertainment, Big Tech, Hollywood, Facebook, NBA, FOX Locations: YOLO, hodlers, Silicon, Paris, Ukraine, Gaza, New York, London, Chicago

☆ DJT SPAC: Trump Media's Stock Price Is Probably Going to Crash
▼ + stars: | 2024-04-01 | by ( Emily Stewart | ) www.businessinsider.com time to read: +5 min

Donald Trump's newly public social-media company is not the next Nvidia — or Meta or Google or whatever has happened with X/Twitter. It seems, let's say, unlikely that his media company's stock price is going to stay so high forever. AdvertisementFor one thing, TMTG, which owns the conservative Twitter copycat Truth Social, makes basically nothing. Truth Social and any other business Trump Media and Technology Group spins up is pretty much guaranteed to appeal just to Trump fans. Might Trump and Truth Social be different, at least on the stock front?

Persons: Donald Trump's, Trump, Peter Thiel, Peter Kafka, aren't, Don Jr, Emily Stewart Organizations: Nvidia, Trump Media, Technology Group, Hasbro, Trump, Apple, Facebook, Twitter, YouTube, Republicans, White, GameStop, AMC, Business Locations: SPAC

☆ Anyone want to pay an extra 50% for their Spotify subscription? This bill would make it mandatory.
▼ + stars: | 2024-03-28 | by ( Peter Kafka | ) www.businessinsider.com time to read: +5 min

Read previewLots of consumers like streaming music. Lots of musicians complain about streaming — they say it doesn't generate nearly as much revenue for them as they deserve and need. So here's a proposal to help fix that: a tax that would increase American consumers' music streaming bills by 50% — meaning you'd pay an extra $4 to $10 a month for services like Spotify or Apple Music. I don't believe there was ever a time that Americans supported a 50% tax hike on anything, for any reason. But when we got on the phone to discuss the bill this month, he said it's supposed to be taken literally and seriously.

Persons: —, Rashida Tlaib, Jamaal Bowman, Tlaib, Damon Krukowski, I'm, it's, Krukowski, you've, Taylor Organizations: Service, Apple, Business, Wage, Act, Rep, United Musicians, Allied Workers, Spotify Locations: Michigan, New York

☆ YouTube could be worth $400 billion — that's more than Disney and Comcast combined. We should be paying more attention.
▼ + stars: | 2024-03-28 | by ( Peter Kafka | ) www.businessinsider.com time to read: +3 min

Now YouTube could be worth as much as $400 billion, per analyst Michael Nathanson. You're still not getting close to the $375 billion to $400 billion value Nathanson is talking about. AdvertisementOr, alternately: You could combine Comcast ($172 billion) and Disney ($224 billion, after a big ramp-up this year — Nelson Peltz, your services are no longer needed) and end up with a $396 billion company. (You would also get to watch a funny wrestling match between Disney CEO Bob Iger and Comcast CEO Brian Roberts who have a long-standing enmity.) So if you're talking about video, and the internet, and advertising and audience and value and you're not talking about YouTube?

Persons: Michael Nathanson, —, ANDREW CABALLERO, REYNOLDS, let's, you'll, Lucia Moses, Nathanson, — Nelson Peltz, Bob Iger, Brian Roberts Organizations: Google, YouTube, Service, Big Tech, Meta, Twitter, Netflix, Paramount, Warner Bros Discovery, Fox, Comcast, Disney

☆ Don't tell Gen Z the ChatGPT hype bubble is over
▼ + stars: | 2024-03-27 | by ( Peter Kafka | ) www.businessinsider.com time to read: +1 min

43% of 18-29 year-olds in the US have used ChatGPT, up from 33% last July. Nearly a third of young people have used ChatGPT for work tasks, up from 12% last summer. When everyone was super excited and/or freaked out about ChatGPT and AI? Or, more precisely: Lots of normal people are still a bit interested in AI and ChatGPT. That's the conclusion you can draw from a new Pew survey, which reports that overall ChatGPT use has continued to increase — but that it's really increased among Gen Z.

Persons: —, They're, Gen Z Organizations: Service, Pew, Gen

☆ Why investors aren't betting against Trump's Twitter clone — yet
▼ + stars: | 2024-03-26 | by ( Peter Kafka | ) www.businessinsider.com time to read: +4 min

Trump Media & Technology Group Corp — Donald Trump's social media company — is a flashing red light of a stock. In other words: It seems like a perfect candidate for short sellers — investors who bet that a company's stock price is overvalued and will fall. But not that much, for now: More than 3 million shares of Trump Media have been shorted, says short-tracker S3 Partners. Related storiesS3's managing director, Ihor Dusaniwsky, offers one explanation: It's particularly hard to short Trump's company for technical reasons. There is extraordinarily little stock borrow available in [Trump Media] to support new short sales and stock borrow rates are extremely high.

Persons: Donald Trump's, Ihor, Trump's, I'd Organizations: Service, Trump Media & Technology Group Corp, Nasdaq, Business, Trump Media, SPACs, GameStop Locations: U.S

☆ You're going to need a Peacock subscription to watch another NFL game this fall
▼ + stars: | 2024-03-26 | by ( Peter Kafka | ) www.businessinsider.com time to read: +2 min

Comcast's Peacock, which streamed an NFL playoff game in January, has another game scheduled for this fall. AdvertisementRemember when Peacock hosted an NFL playoff game in January, which meant that everyone who wanted to watch Travis Kelce play football — and/or watch Taylor Swift watch him play football — had to subscribe to Comcast's streaming service? Well, get ready for round 2: Peacock will have another exclusive NFL game in September, featuring the Philadelphia Eagles and a team to be named later. This one won't be a playoff game, so it won't have anything like the national interest — and the complaints from angry NFL fans — the last Peacock game generated. And subscription tracking service Antenna estimated that nearly 3 million people signed up for Peacock to watch the game.

Persons: Comcast's Peacock, Peacock, —, Travis Kelce, Taylor Swift Organizations: NFL, Service, Philadelphia Eagles Locations: Sao Paulo, Brazil

☆ Why investors think Reddit is worth $1 billion more than The New York Times
▼ + stars: | 2024-03-25 | by ( Peter Kafka | ) www.businessinsider.com time to read: +3 min

Reddit, which loses money, is currently worth about $8.15 billion. The New York Times, which makes money, is worth about $7.2 billion. That's because investors love Reddit's business model, which depends on free content from its users. That would be Reddit, the message board that went public last week and has a market cap of $8.15 billion. It's going to take some time for the market to reach a consensus about what Reddit is really worth.

Persons: —, Reddit, — it's Organizations: New York Times, Service, Times, Media

☆ Why the big winner in the Reddit IPO is ... a magazine publisher
▼ + stars: | 2024-03-18 | by ( Peter Kafka | ) www.businessinsider.com time to read: +4 min

AdvertisementIt's easy to write gloomy stories about the state of the media business. The media business is often pretty gloomy! This one is about a very Old World Media Company that has struck gold in digital media — one of the very few times that has ever happened. (While we're in disclosure mode, I should note that Business Insider itself is a digital media company acquired by German media conglomerate Axel Springer in 2015. AdvertisementMaybe a worthwhile playbook the next time — and there will be a next time — a big media company opens its wallet for a digital upstart again.

Persons: Condé Nast, —, Reddit, Time Warner, Axel Springer Organizations: Advance, Service, World Media Company, Vogue, Yorker, Big Media, News Corp, MySpace, Penguin, YouTube, Maker Studios, Disney, Fox, Time, Comcast, NBC, Vox Media Locations: Reddit

☆ Citadel's relocation to Miami was a success. But can Ken Griffin get the rest of Wall Street to do it?
▼ + stars: | 2024-03-15 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, we're looking at how two of the most powerful Wall Street firms are doing two years after relocating to Miami . Nearly two years ago the billionaire uprooted his hedge fund, Citadel, and market maker, Citadel Securities, from their Chicago headquarters to Miami. Employees at Citadel and Citadel Securities spoke to Business Insider's Emmalyse Brownstein about life in the new HQ . Shares tumbled 55% after The Wall Street Journal reported that Fisker had hired restructuring advisors to assist with a possible bankruptcy filing.

Persons: —, we're, sarayut Thaneerat, Tyler Le, Ken Griffin, Samantha Lee, San Francisco, Griffin, Anita Kot, Dogecoin, Elon Musk, Ned Davis, Fisker, Patrick Pleul, Andrew Cabellero Reynolds, Jenny Chang, Rodriguez, Sam Altman, Muhammad Ali, Steven Mnuchin, BI's Peter Kafka, Ezra Bailey, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Service, Business, Wall, Citadel, Citadel Securities, Sunshine State, Miami, New York, Ned Davis Research, Street Journal, Elon, OpenAI, Google, KKR, Benz Locations: Miami, Florida, Chicago, New York, London, York, Plenty, San, Austin, He's, Blackstone

☆ Elon Musk would be the best owner for TikTok. There's just one problem.
▼ + stars: | 2024-03-14 | by ( Peter Kafka | ) www.businessinsider.com time to read: +6 min

At one point, Elon Musk might have seemed like a great candidate to buy TikTok. Turns out my boss Henry Blodget is suggesting we all band together to rustle up the money to buy TikTok. You might recall Elon Musk from 2022. And that Elon Musk would be a great candidate to buy the US operations of TikTok. The sales pitch would be simple: Elon Musk.

Persons: Elon, —, Steven Mnuchin, doesn't, Bobby Kotick, Sam Altman, Henry Blodget, Henry, didn't, Joe Biden, ByteDance, that's, Steve Mnuchin, — Elon, Elon Musk, Guy Who, Esther Crawford, Musk, he's Organizations: Service, Activision, Street, Yahoo, Twitter, Elon Locations: TikTok, ByteDance

☆ Who could have possibly foreseen that Elon Musk would be capricious and erratic except for Everyone Who Has Watched Him For Years?
▼ + stars: | 2024-03-13 | by ( Peter Kafka | ) www.businessinsider.com time to read: +1 min

Former CNN anchor Don Lemon says Elon Musk has canceled his Twitter talk show before its scheduled debut. Lemon says Musk, who courted him to come to Twitter, didn't like the interview Lemon had just conducted with Musk. If you're surprised by this kind of behavior from Musk, you're not paying attention. AdvertisementElon Musk courted former CNN anchor Don Lemon to start a talk show on Twitter. Now it's not going to happen at all, Lemon says: He says Elon Musk canceled the show — before it ever aired — shortly after Lemon interviewed him last Friday.

Persons: Don Lemon, Elon Musk, Lemon, —, it's Organizations: CNN, Twitter, Service

☆ This guy is serious about crypto, but his joke character has gone viral
▼ + stars: | 2024-03-13 | by ( Peter Kafka | ) www.businessinsider.com time to read: +6 min

Read previewLike a lot of people, Nick O'Neill got the crypto bug during the pandemic. But then he stumbled into a bit of viral fame: A joke post he made boasting about his crypto prowess took off, fueled in part by people who didn't realize he was joking. "Choose rich" is O'Neill's catchphrase, which is mostly a joke, but also very similar to things people used to say on crypto Twitter, for real. AdvertisementPeter Kafka: You make this thing that is a little sincere but is mostly a joke, and it triggers people who don't think it's a joke. Peter Kafka: I couldn't tell if you were satirizing crypto, or crypto culture, or Twitter/X culture.

Persons: —, Nick O'Neill, he's, O'Neill, Crypto, There's, Peter Kafka, That's, It's, bro, Solana, NFTs, Dan Bilzerians, there's, you've, X Nick O'Neill, Dave Portnoy's Organizations: Service, Business, pic.twitter.com, Twitter, MySpace, Washington Locations: Miami, Solana

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