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The new sports streamer that Disney, Warner Bros., and Fox announced Tuesday is a really big deal that could reshape TV . And then they charge the big pay TV distributors a ton to carry their broadcasts of those games. Which may explain why, up until Tuesday, they hadn't told any of the pay TV companies or sports leagues about their plans, industry executives tell me. But if you're the kind of person who's buying an antenna to watch sports TV, you're not going to buy this thing anyway.) Also: The big TV guys didn't like it in 2015 when HBO started competing with them by selling itself as a stand-alone service.
Persons: they're, Nathan McAlone, Nathan, Justin Casterline, Peacock, John W, I'm, Michael Nathanson, , they'd Organizations: Service, Warner Bros, Fox, Business, NFL, CBS, NBC, Hulu, YouTube, Disney, ESPN, Warner Bros ., Comcast, Sports, McDonough, Getty, NBA, TNT, TBS, DirecTV, Verizon, AT, HBO
Disney's fiscal first-quarter earnings per share beat expectations and it said its full-year EPS will rise at least 20% from 2023. Iger also unveiled his strategy and timeline for bringing Disney's flagship sports network ESPN into the streaming era. AdvertisementThe company will launch a stand-alone streaming service with ESPN and its sister networks in the fall of 2025, something Iger called "inevitable." Even if there's consumer demand, the JV faces several hurdles, from challenges brought by existing distributors to antitrust opposition, LightShed Partners wrote in a note published ahead of Disney's earnings release. Challenges aside, the new sports streaming strategy is a big step forward for Iger and Disney.
Persons: , Bob Iger's, Iger, Taylor Swift, Nelson Peltz, Bob Chapek's, Peltz's, Disney, Paul Verna, Alpha, LightShed, Iger didn't, Trian, Elon Musk, Gina Carano's, Iger's Organizations: Service, Disney, Epic Games, Peltz's Trian Fund Management, Blackwells, ValueAct, Business, Iger, Insider Intelligence, ESPN, Disney's, Fox, Warner Bros, JV, LightShed Partners, Marvel, CNBC Locations: Moana
The company began winding down operations at the end of last year, a source familiar with the matter told BI. This story is available exclusively to Business Insider subscribers. Creator+'s business launched in 2021 and aimed to produce six feature films that year that would begin airing in 2022, cofounder Jonathan Shambroom previously told BI. "The company reviewed acquisition offers for various aspects of its business — completed films, films in development, technology, brand IP, etc. Investors and industry professionals told BI that creators are better served as a vehicle to launch a separate business in areas like e-commerce rather than as a product or customer on their own.
Persons: Benjamin Grubbs, Jonathan Shambroom, TikTokers Griffin Johnson, Noah Beck, YouTubers, Jason Kilar's, Shambroom, Grubbs, Jane, , It's, Rex Woodbury, they're Organizations: Business, Hulu, Netflix, . Entertainment, Amp Studios, BI, VC Locations: TikTokers, influencers
When Redstone's father, Sumner Redstone, the founder of National Amusements, died in 2020, Shari Redstone inherited his shares. Paramount Global has a market capitalization of nearly $10 billion and about $13 billion of net debt. If she agrees to sell either National Amusements or all of Paramount Global, she'll need buy in from other investors. Talks are further along with Redstone regarding NAI than they are with Paramount Global, two of the people said. Paramount Global charges $5.99 per month for Paramount+ with advertising.
Persons: Shari Redstone, Mike Blake, it's, David Ellison, Byron Allen, SpongeBob, I'm, National Amusements Shari Redstone, Brendan Mcdermid, Redstone's, Sumner Redstone, Shari, John Malone, Bob Bakish, It's, Banker Byron Trott, Warren Buffett, Berkshire Hathaway, Skydance, Spokespeople, There's, CNBC's David Faber, Bakish, Jim Cramer Organizations: National Amusements, WSJ Tech, Reuters Paramount Global, Paramount, Paramount Global, Skydance Media, Paramount Pictures, CBS, Nickelodeon, Comedy Central, Hollywood, Allen, Co, Sun, Reuters, Amusements Inc, National, Warner Bros, Discovery, CNBC, Comcast, NBCUniversal, Paramount Global's, Amusements, U.S, Disney, Charter, CNBC Paramount Global, Viacom Locations: Laguna Beach , California, Israel, Sun Valley , Idaho, Wells Fargo, America, Berkshire, NAI, Skydance, U.S
BERLIN (AP) — German beer sales dropped 4.5% last year, resuming a long-term downward trend, official figures showed Thursday. German-based breweries and distributors sold about 8.4 billion liters (2.2 billion gallons) of beer last year, the Federal Statistical Office said. That figure doesn't include non-alcoholic beer and beer imported from outside the European Union. In 2022, beer sales increased 2.7% thanks to a recovery in demand at home and in the EU following the end of COVID-19 restrictions. Sales inside Germany — more than four-fifths of the total — dropped 4.2% to 6.9 billion liters (1.8 billion gallons).
Organizations: BERLIN, Federal Statistical Office, European Union, EU Locations: EU, COVID, Germany
Neptune Resources, which makes some tianeptine products, has issued a nationwide recall, according to an announcement posted this week. Products that contain tianeptine are sold under several brand names, including Pegasus and Zaza, the CDC says. The FDA has issued a warning urging consumers not to purchase or use tianeptine products due to serious risks including seizures, loss of consciousness and death. In recent years, at least two deaths related to tianeptine products marketed as dietary supplements have been reported to the FDA, data shows. Nine people said they had used tianeptine previously; six ingested tianeptine along with other substances, including alprazolam, kratom, tramadol, trazodone and gabapentin.
Persons: , Zaza, Dr, Sanjay Gupta Organizations: CNN, Centers for Disease Control, Neptune Resources, Resources, Food and Drug Administration, FDA, Pegasus, CDC, Neptune, Jersey Poison Control, CNN Health Locations: Neptune, Europe, Asia, Latin America, United States, Jersey
Under-the-radar stock picks Morgan Stanley reckons the way to play the obesity theme in Asia is through names involved in GLP-1 drug development that "could find upside in burgeoning overseas markets." Calling it "top beneficiary as global demand for GLP-1 drugs significantly outpaces capacity," Morgan Stanley has an overweight rating on the stock. Morgan Stanley has an investment horizon of just over six months for WuXi AppTec and Innovent and over 12 months for Chugai and EBOS. Morgan Stanley's analysts estimate that worldwide sales of Orforglipron could hit $7 billion in 2023. Elsewhere, it sees opportunities for EBOS following the Australian government's approval for it to distribute obesity drugs.
Persons: Eli Lilly, Morgan, Sean Wu, Morgan Stanley's, Health Organization's, Morgan Stanley, Chugai, Goldman, EBOS, CNBC's Michael Bloom Organizations: Novo Nordisk, Health, WHO, BMI, WuXi AppTec, Australian, Hong Kong Stock Exchange, China Health Care, Goldman Sachs, Health Care Equity, Zealand ETF Locations: U.S, Asia, Asia Pacific, Australia, GLP, WuXi, China, Japan, New Zealand, Zealand
Sexually explicit AI-created images of Taylor Swift went viral on X this week. Posting on X on Thursday, he wrote: "The spread of AI-generated explicit images of Taylor Swift is appalling — and sadly, it's happening to women everywhere, every day." The spread of AI-generated explicit images of Taylor Swift is appalling—and sadly, it's happening to women everywhere, every day. What’s happened to Taylor Swift is nothing new. (The Daily Mail has reported that her team is considering legal action against the site that created the AI-generated images.)
Persons: Taylor Swift, It's, , Swift, Joe Biden, Joseph Morelle, Morelle, Joe Morelle, Tom Kean Jr, Yvette D, Clarke, — Yvette D Organizations: Service, NFL, NBC News, New Hampshire, Democratic, Committee, Republican, Business, Daily Mail Locations: @RepYvetteClarke
Deutsche Bank is moving to the sidelines on shares of Netflix despite another solid quarter from the streaming giant. Analyst Bryan Kraft views the company as the "best story in media among the vertically integrated producers/programmers/distributors," but nevertheless downgraded Netflix to a hold rating. He said that its leadership position and good news look "fully priced" in to the stock already after its 65% runup in 2023. The downgrade from Deutsche Bank comes in the wake of another strong quarter from the dominant player in entertainment media . Netflix topped revenue estimates and added 13.1 million subscribers, easily topping the 8 million to 9 million additions expected by Wall Street analysts.
Persons: Bryan Kraft, Kraft, it's, — CNBC's Michael Bloom Organizations: Deutsche Bank, Netflix, Wall Street, Kraft
OLYMPIA, Wash. (AP) — The Washington state attorney general announced a $149.5 million settlement Wednesday with drugmaker Johnson & Johnson, more than four years after the state sued the company over its role fueling the opioid addiction crisis. If approved, the deal would send over $20 million more to respond to the opioid crisis than if the state had signed onto a national settlement in 2021 involving Johnson & Johnson, the attorney general’s office said. Washington state’s Democratic attorney general sued Johnson & Johnson in 2020, alleging that it helped drive the pharmaceutical industry’s expansion of prescription opioids. “The Company’s actions relating to the marketing and promotion of important prescription opioid medications were appropriate and responsible,” according to the statement. The attorney general’s office noted that the company was one of the largest suppliers of the raw narcotic materials needed to produce opioid drugs.
Persons: drugmaker Johnson, Johnson, Bob Ferguson, Democratic Sen, June Robinson, Geoff Mulvihill Organizations: Washington State Department of Health, Johnson, Democratic Locations: The Washington, U.S, Washington, Cherry Hill , New Jersey
After two trips to my local Where Ya Bin store, I've seen enough returned Amazon items to last a lifetime. (Amazon would not answer specific questions about its relationship with bin stores and why certain products end up there. Gloria Dawson / Business Insider"People generally love it or hate it," Jason Carrick, the owner of Where Ya Bin, told me. What to expect when bin shoppingHours and prices at Where Ya Bin Gloria Dawson / Business InsiderI visited a Where Ya Bin store in Columbus, Ohio, on a Saturday and Wednesday in December. Despite my hesitations, I bought a few items and can see the benefits of bin store shopping.
Persons: , Gloria Dawson, I've, I'm, Jason Carrick, It's, Carrick, Bin Gloria Dawson, Kamala Harris, Hightower, Gloria Organizations: Service, Business, National Retail Federation, Bed, Amazon Locations: Local, Ohio , Florida, South Carolina, North Carolina, Columbus , Ohio, Bed Bath
California has long championed renewable energy, but a change in the state’s policies last year has led to a sharp decline in the installation of residential rooftop solar in the state. Thousands of companies — including installers, manufacturers and distributors — are reeling from the new policy, which took effect in April and greatly reduced incentives that had encouraged homeowners to install solar panels. Since the change, sales of rooftop solar installations in California dropped as much as 85 percent in some months of 2023 from a year earlier, according to a report by Ohm Analytics, a research firm that tracks the solar marketplace. Industry groups project that installations in the state will drop more than 40 percent this year and continue to decline through 2028. “The solar installations are off a ton,” said Michael Wara, a senior research scholar at Stanford Woods Institute for the Environment.
Persons: , Michael Wara Organizations: Ohm Analytics, Industry, Stanford Woods Institute for, Environment Locations: California, Reno, Nev, Florida , North Carolina, Ohio
Most of the products Dhingra resells fall under the grocery category, like sparkling water, soda, energy drinks, and protein shakes. To find profitable products, he considers two specific metrics. That's why Dhingra is looking for profitable products; he wants something that has "some fluff around the margins," he said. AdvertisementBSR scores and demand evolve, so he's always on the hunt for profitable products. That's why he always likes to have some capital set aside in case he discovers a new, profitable product.
Persons: , Dhingra, he's Organizations: Service, Costco, Walmart, Business, Amazon
Low-risk retail arbitrage is time-intensive, however. He had a few summer vacation months ahead: the perfect opportunity to scale a retail arbitrage operation. With FBA, he wouldn't have been able to list products until Amazon received them, which would have killed his strategy of listing products before purchasing inventory. Dhingra, now 20, is in his junior year at VCU and focused on other entrepreneurial projects since retail arbitrage requires so much time. He has reinvested 100% of his profits back into the arbitrage business, he said: "I haven't taken a single disbursement from my business checking.
Persons: Sahaj Dhingra, Dhingra, it's, Perrier, Nestlé, it'll, wouldn't, He'd Organizations: YouTube, Amazon, Costco, Walmart, Business, Virginia Commonwealth University, VCU, UPS, USPS Locations: Virginia, Dhingra
Signage for Alibaba Group Holding Ltd. covers the front facade of the New York Stock Exchange November 11, 2015. Cloud competition from HuaweiAlibaba has been an industry leader in the cloud business. Alibaba in November blamed U.S. restrictions on chip sales to China for the decision to pull the cloud IPO. Alibaba said its cloud business revenue grew by just 2% year on year in the quarter ended Sept. 30. Those resellers were other companies that had acted as distributors or agents for Alibaba cloud and received commissions.
Persons: Brendan McDermid, It's, Alibaba, hasn't, they're, Duncan Clark, Clark, , Jack Ma, Brian Wong, Eddie Wu, Trudy Dai, Daniel Zhang, Yi Zhang, , Alibaba's, Canalys, BDA's Clark Organizations: Alibaba Group Holding, New York Stock, Reuters, BDA, Alibaba Group, Alibaba, Duncan Clark BDA, Huawei Alibaba, Huawei, Tencent, “ Global Locations: Reuters BEIJING, U.S, China, Beijing, Alibaba
Most hawkers collect their ice cream and dry ice from wholesale distributors around the country. Lester Ledesma for Business InsiderLiang is one of Singapore's remaining traditional ice cream sellers and part of a bygone era. Buying one from one of Singapore's "ice cream uncles" is almost a right of passage. But Liang, Tan, and many other traditional ice cream sellers in the country find themselves working well into their golden years. In addition to the ice cream cart, the ice cream hawkers often also use big cooler boxes for additional storage.
Persons: hawking, , Liang, Lester Ledesma, Insider Liang, Kenneth Goh, Chip Guan Heng, Goh, Koh Poh Koon, That's, Koh, Tan Ah Hock, He's, " Tan, Tan, There's, Wang, she's, Chan Yong Leng, Chan, TikTok, Darren Tan, it's Organizations: Service, Business, Insider, Singapore Food Agency, SFA, Social Service Office Locations: Singapore, Orchard
Dividend-paying stocks give investors a combination of potential price appreciation and income, which can enhance total returns. Bearing that in mind, here are five attractive dividend stocks, according to Wall Street's top experts on TipRanks, a platform that ranks analysts based on their past performance. (See Sunoco Hedge Funds Trading Activity on TipRanks)VICI PropertiesOur next dividend stock is VICI Properties (VICI), a real estate investment trust. For the third quarter, the company declared a cash dividend of $0.415 per share, reflecting a 6.4% increase. For the third quarter, the company declared a cash dividend of $2.09 per share, payable on Dec. 14.
Persons: Mike Blake, Wall, Elvira Scotto, Scotto, TipRanks, Sunoco, VICI, Simon Yarmak, Yarmak, Christopher Horvers, Horvers Organizations: Reuters, Energy, Crestwood Equity Partners, RBC Capital, MGM, North American, JPMorgan, TipRanks, Walmart Locations: Encinitas , California, U.S, Crestwood, Vegas
REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsBRUSSELS, Nov 30 (Reuters) - EU countries and EU lawmakers on Thursday agreed to rules to protect laptops, fridges, mobile apps and smart devices connected to the internet from cyber threats following a spate of such attacks and ransom demands in recent years around the world. It sets out cybersecurity requirements for the design, development, production and the sale of hardware and software products. They must be more transparent on the security of hardware and software products for consumers and business users, and report cyber incidents to national authorities. Importers and distributors will have to verify that products conform with EU rules. The Commission has said the cybersecurity rules could save companies as much as 290 billion euros ($316 billion) annually versus compliance costs of about 29 billion euros.
Persons: Dado Ruvic, Jose Luis Escriva, Foo Yun Chee, Josie Kao Organizations: REUTERS, Rights, European Commission, Manufacturers, EU, Thomson Locations: Rights BRUSSELS
The Walt Disney Company CEO Bob Iger attends the Nominees Luncheon for the 95th Oscars in Beverly Hills, California, U.S. February 13, 2023. REUTERS/Mario Anzuoni/File Photo Acquire Licensing RightsNov 28 (Reuters) - Walt Disney (DIS.N) CEO Bob Iger told employees that he faced a "myriad of challenges" upon returning to the company but remained upbeat about its prospects. "I feel that we’ve just emerged from a period of a lot of fixing to one of building again," Iger said. The meeting marks the one-year anniversary of Iger's first town hall since rejoining the company as chief executive in November 2022. Disney has undergone a transformation under Iger, who restructured the company and streamlined operations to make the business more cost effective.
Persons: Bob Iger, Mario Anzuoni, Walt Disney, , ” Iger, I've, Iger, Alan Bergman, Dana Walden, Jimmy Pitaro, Josh D’Amaro, Nelson Peltz, Bob Chapek, Scarlett Johansson, Florida Governor Ron DeSantis, Disney, Dawn Chmielewski, Nick Zieminski Organizations: Walt Disney Company, REUTERS, New Amsterdam Theatre, Disney Entertainment, ESPN, Walt, New York Times, Disney, Florida Governor, Thomson Locations: Beverly Hills , California, U.S, Iger's, Burbank , California, New York
A sound featuring 30 seconds of white noise has thus far been worth the same as an artist’s original music track, creating a “revenue opportunity for noise uploaders well beyond their contribution to listeners,” according to Spotify, and creating frustration throughout the music industry. Until now, creators of functional sounds have been able to game Spotify’s streaming system to maximize revenue with minimal effort. The functional genre includes nature sounds, white noise, sound effects and silence recordings. “Obviously white noise is very different from ‘Bohemian Rhapsody,’ but it, currently under this model, is paid the same,” Marina Guz, chief commercial officer at Endel, an AI-driven functional music company partnered with Universal Music Group, told CNN. Guz explained that there has been rising pressure from labels and artists to change the way Spotify makes distinctions between functional noise and music.
Persons: CNN —, , Ed Sheeran, Robert Kync, ” Marina Guz, Guz, “ There’s, ” Guz, Spotify’s Organizations: CNN, Spotify, Warner Music Group, Universal Music Group, Bloomberg
“The Hunger Games: The Ballad of Songbirds & Snakes” topped the North American box office in its first weekend in theaters with $44 million in ticket sales, according to studio estimates Sunday. “The Ballad of Songbirds & Snakes” is an interesting case study for a franchise that’s been dormant for 8 years and is testing the waters for a new era. Its $44 million from 3,776 locations, including 1,610 premium screens, marks a low for films carrying “The Hunger Games” in the title. With an added $54.5 million from 87 international markets, the film has already earned $98.5 million out of the gates. “The Hunger Games: The Ballad of Songbirds & Snakes,” $44 million.
Persons: , Jennifer Lawrence, Katniss Everdeen, Tom Blyth, Rachel Zegler, Adam Fogelson, Suzanne Collins, Collins, Coriolanus Snow, Paul Dergarabedian, , Anna Kendrick, Justin Timberlake, Eli Roth, Patrick Dempsey, Addison Rae, Michael Fassbender, Taika Waititi, Paul Giamatti, “ Priscilla, Sofia Coppola, Disney's, ” Ridley, Napoleon ”, ” Dergarabedian, Comscore, “ Taylor Swift Organizations: American, Lionsgate, Rotten, SAG, Universal, DreamWorks Animation, Marvel, TriStar Pictures, Spyglass Media, Walt Disney Co, Searchlight Pictures, Toronto Film Locations: Germany, Plymouth , Massachusetts
YouTube has launched a new AI music tool that will let creators use the voices of famous artists. AdvertisementYouTube has launched a new AI music tool that lets creators use the voices of famous artists. The company's AI experiment, Dream Track, marks one of the first real attempts to commercialize AI-generated music. Launched on Thursday, the tool will allow some creators to use AI versions of artists' voices for soundtracks of up to 30 seconds. AdvertisementIn the blogpost published by YouTube, Puth said he was "excited and inspired" by the project.
Persons: Charlie Puth, Charli XCX, Demi Lovato, , Alec Benjamin, John Legend, Sia, Troye Sivan, Puth, Drake, Nick Cave Organizations: YouTube, Service, Universal Music Group, Google, Bloomberg, Spotify
REUTERS/Elizabeth Frantz Acquire Licensing RightsWASHINGTON, Nov 16 (Reuters) - A group of 46 Republican U.S. senators asked the Commerce Department on Thursday to answer questions about its Oct. 27 decision to temporarily stop issuing export licenses for most civilian firearms and ammunition for non-governmental users. The Commerce Department's 90-day pause has some exemptions including export licenses for Ukraine and Israel, as well as some other close allies. Earlier this month, Republican Representative Mark Green, who chairs the Homeland Security Committee, led a separate letter from more than 80 lawmakers seeking answers on the pause. The Republican party has consistently defended gun ownership rights under the U.S. Constitution, while many Democrats have called for new restrictions after a series of mass shootings. Exporters can continue to submit license requests during the pause, but they will be "held without action" until the pause is lifted.
Persons: Mitch McConnell, Elizabeth Frantz, Ted Budd, John Thune, Mark Green, David Shepardson, David Gregorio Our Organizations: U.S ., REUTERS, Rights, Republican U.S, Commerce Department, Republican, Homeland Security Committee, U.S, Constitution, Overseas, Thomson Locations: Washington , U.S, Ukraine, Israel, U.S
New York CNN —Anheuser-Busch InBev’s US chief marketing officer is stepping down after the company reported a slump in Bud Light sales, as the backlash against the beer continues. The world’s biggest brewer reported a 13.5% decline in third-quarter US revenue per 100 liters, a key measure of beer sales. The brand’s Bud Light customers abandoned the beer after it partnered with transgender influencer Dylan Mulvaney and botched its response to the controversy. Bud Light lost its long-held top-selling American beer title to rival Modelo after its short partnership with Mulvaney. But AB InBev still wants to turn things around — and ditching its CMO may be one of the steps.
Persons: New York CNN —, Busch, Benoit Garbe, , ” Garbe, Kyle Norrington, Bud, influencer Dylan Mulvaney, reshuffling, , Brendan Whitworth, Bud Light, Michel Doukeris, , Jordan Valinsky Organizations: New, New York CNN, New York CNN — Anheuser, Busch, Bud Light, Anheuser, InBev, Modelo, Mulvaney Locations: New York
Use of Ozempic for weight loss has caused shortages across Europe. Novo Nordisk, which has earmarked $6 billion to boost production in Denmark, said last week the industry was far from being able to produce enough weight-loss drugs to meet global demand. The German association of drug wholesale distributors PHAGRO said in a statement that there was no certainty that exports were causing the shortages. Portugal, Poland, Romania, Belgium, Slovakia and Spain, in turn, have rules in place that likely make it impossible to export the drug, Affordable Medicines said. It also urged "all relevant actors" not to export the drugs.
Persons: George Frey REFILE, Spiegel, Lilly, Karl Broich, Eli Lilly's, tirzepatide, BfArM's Broich, Broich, PHAGRO, Germany's BfArM, Ludwig Burger, Miranda Murray, Patricia Weiss, Matthias Williams, Sharon Singleton Organizations: Novo Nordisk, Pharmacy, REUTERS, BfArM, EU, Novo Nordisk's, Spiegel, European Union, Medicines, Thomson Locations: Provo , Utah, U.S, FRANKFURT, United States, Europe, Britain, Belgium, Germany, Norway, Denmark, Medicines Europe, Austria, France, Greece, Czech Republic, Portugal, Poland, Romania, Slovakia, Spain, Frankfurt, Berlin
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