Good morning. My favourite occasion of this event-filled week was watching Iggy Pop, Jack White, and Johnny Marr carry out on the CBGB Competition on Saturday. Held underneath the Brooklyn Queens Expressway in New York, the group featured punks sufficiently old to be grandparents and followers who weren’t even born when the bands they got here to see first sang their hits. Goldman Sachs estimates that world music income will double to $200 billion over the subsequent decade, with reside music doubling to greater than $67 billion. And that’s only a subset of reside leisure house.
Whereas CEOs perceive the facility of leisure to please individuals they’re making an attempt to achieve, they may not recognize the enterprise case—and the way it’s shifting. Dave McKay of RBC instructed me he’s by no means been extra fashionable than when the financial institution sponsored Taylor Swift’s Eras tour. It additionally helped RBC add greater than 600,000 shoppers to its Canadian banking enterprise final yr. Listed here are some insights from CEOs shaping the subsequent wave of reside leisure.
Create a multigenerational expertise. It’s not simply mother-daughter Swifties. In organizing the CBGB occasion, entrepreneur Phil Sandhaus created a “Young Punk” class of $73 tickets, together with a separate stage space of youthful acts that was buzzing with vitality—and the sponsors who wished to affiliate with that. He additionally livestreamed the important thing mainstage acts.
“We want to appeal to people who grew up with this music but make it accessible to a younger generation,” Sandhaus instructed me. “Different price points and experiences let us go after different sponsors and brands. We’re not trying to gouge people; we’re here for the long run.”
Choose a dedicated accomplice. As Terrapin Station Leisure CEO Jonathan Shank notes, with ticket costs typically beginning at 10x what they had been a era in the past, an expertise must “be first class in order to cut through.” Meaning investing in know-how—ABBA pulled in $2 million per week from a live performance that featured their avatars—and the best accomplice. A pioneer in bringing mental property from Bob Marley to Disney to the reside stage, Shank is aware of the significance of partnering on a franchise that issues to the proprietor. “If it’s a prioritized project within the studio, you have everybody going down the river in the same direction and at the same time,” Shank stated. “If it’s not a huge priority, you can find yourself out on an island” and the venture suffers.
Prime information
Trump says Gaza peace plan is shut
The president stated a deal to finish the struggle between Israel and Hamas was in its “final stages.” Israel’s Benjamin Netanyahu will meet Trump on the White Home on Monday. A press release from Hamas stated it had not obtained the proposals.
Authorities shutdown would delay jobs report
The federal authorities is headed for a shutdown on Wednesday except a deal is reached, and, if that’s the case, a contingency plan obtained by Bloomberg notes that the month-to-month jobs report received’t publish when scheduled on Friday. Financial institution of America analysts warn that the scenario “would delay key economic data ahead of the Fed’s next meeting.”
GSK CEO Emma Walmsley stepping down
First Manufacturers chapter raises questions on non-public credit score market danger
Auto components provide firm First Manufacturers Group filed for chapter on Sunday, owing $10 billion in money owed, in accordance with the FT. It follows the collapse of auto lender Tricolor a number of weeks in the past. The 2 circumstances are inflicting traders to ask questions concerning the security of the non-public credit score markets and company debt. “There’s been a very positive investment environment for a long time, with a large amount of money and a lot of optimism,” Howard Marks of Oaktree Capital instructed the WSJ. “The worst loans are made at the best of times.”
Sure, AI will create a jobs disaster, CEOs say
Quote of the day from Axios: “Last week, Mike Allen and I talked privately with 20 different CEOs of a wide range of companies. Every single one of them said they’re reducing their hiring ambitions at the dawn of AI.”
Can exterior assist preserve Intel collectively?
Struggling chipmaker Intel has obtained emergency money infusions from the U.S. authorities and Nvidia—and the corporate’s former CEO instructed Fortune that it’ll want about $40 billion in whole to remain afloat. Is a brand new CEO and exterior assist sufficient?
The rise of prediction markets
Prediction market platforms Kalshi and Polymarket surged in the course of the 2024 election, attracting greater than $3 billion in wagers on the end result. The websites’ founders have moved in direction of sports-related bets since, however how they earn cash and stay compliant with regulators remains to be up within the air.
Moldova rejects pro-Russian interference
Moldova has elected the pro-E.U. PAS get together’s Maia Sandu as its president. The vote was marred by harassment from pro-Russian pursuits, in accordance with the BBC. PAS received 50% of the vote. The professional-Russian Patriotic Electoral Bloc obtained underneath 25% of the votes.
The markets
S&P 500 futures had been up 0.5% this morning. The index closed up 0.59% in its final session. STOXX Europe 600 was up 0.34% in early buying and selling. The U.Okay.’s FTSE 100 up 0.54% in early buying and selling. Japan’s Nikkei 225 was down 0.69%. China’s CSI 300 was up 1.54%. The South Korea KOSPI was up 1.33%. India’s Nifty 50 was up 0.14% earlier than the top of the session. Bitcoin rose to $112K.
Across the watercooler
Everybody’s questioning if, and when, the AI bubble will pop. Right here’s what went down 25 years in the past that finally burst the dot-com growth by Dave Smith
Larry Ellison as soon as predicted ‘citizens will be on their best behavior’ amid fixed recording. Now his firm pays a key position in social media by Jason Ma
‘There’s a lot strain to be the corporate that went from zero to $100 million in X days’: Contained in the sketchy world of ARR and inflated AI startup accounting by Allie Garfinkle
Walmart CEO needs ‘everybody to make it to the other side’ and the retail big will preserve headcount flat for now whilst AI modifications each job by Nino Paoli
CEO Day by day is compiled and edited by Joey Abrams and Jim Edwards.
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