CBX Daily 10/4/2024

Author

Kori Hale
October 04, 2024

Today home goods sales are declining, but let’s start with how music catalog sales could be climbing…

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Why Music Artists Like Eve Are Selling Their Music Catalogs

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It was once believed that rap and hip-hop would be a passing fad, yet those genres along with R&B have dominated the last decade of music, with people betting big on the future worth of nostalgia listening. Now hip-hop icon Eve is parting ways with her music catalog for an eight-figure deal, in the ballpark between $25 million and $50 million, according to Music Business Worldwide. As the value of music catalogs soars, artists like Eve are weighing the pros and cons of parting with their intellectual property, a decision that can have lasting impacts on their careers and legacies.

Home Goods Sales Plummet Amid Economic Woes

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It may appear that consumers are skeptical about spending on home goods if the last Wayfair (Wayfair Inc. +4.80%) sales are anything to go by. In the period between April and June, the company has made a $42 million loss in sales having laid off about 13% of their workforce at the beginning of the year. This severe downturn can only be likened to the 2008 financial crisis. Not even the pandemic slowed down the home goods market like this so what's happening and why is there such a significant decrease in demand?

Gen Z Men: The Beauty Revolution No One Saw Coming

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Forget everything you thought you knew about beauty rules. Gen Z men are stepping firmly into the spotlight, redefining self-care with an impressive 68% jump in skincare use. Grooming is not a ‘girl-thing’ anymore. This demographic is now driving new beauty standards. And while men are embracing their beauty side and challenging traditional beauty norms, the beauty industry is delaying in tapping into this market.

Tune-in Tuesdays!

Reed Hastings, co-founder and executive chairman of Netflix donated $7 million towards Kamala Harris’ campaign. This has prompted #CancelNetflix to trend. Should top stakeholders’ choices reflect the values of the entire network? And in a world where entertainment and politics collide, where do we draw the lines or are they blurred out?

A. “My Life” by Mary J Blige – Should CEOs have the freedom to express their political beliefs without facing backlash?
B. “Crazy” by Kelly Rowland – Is the outrage based on the candidate, or are we just reacting to the chaos of the situation based on our political biases?
C. “American Idiot” by Green Day – It’s a trap that we’re falling into willingly because our preferred candidate didn’t get this opportunity

What are your thoughts on this? Tune in next Tuesday to see which jam captures the prevailing sentiment!

A  |  B  |  C

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Last week’s results are in and it looks like ‘Change Is Gonna Come’ for the Binance executive whose rights are being trampled upon.

How Vista Equity's $8.4 Billion Smartsheet Buyout Strengthens Their Market Position

CBX Vibe:

Smartsheet, the Washington-based work management platform, is being scooped up by private equity giants Vista Equity Partners and Blackstone (BX +0.96%). This $8.4 billion deal is turning heads, not just for its hefty price tag, but for what it means for the future of enterprise software.  

Army Seeks Refund As Dwayne Johnson's UFL Deal Falls Flat

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The recent rift between the U.S. Army and the Ultimate Football League (UFL), with Dwayne “The Rock” Johnson in the mix, has brought attention to a troubled business deal involving sports and culture. The Army is aiming to recoup $6 million from an $11 million marketing agreement, pointing to unmet promotional targets as a major concern. The Rock, who was supposed to do five social media posts promoting the UFL, only managed to do two. This shortfall had a direct impact on the Army's ability to meet its recruitment targets, resulting in a loss of 38 potential enlistments—a significant setback given the high stakes.

Vibes of the Week

Catalog sales set to reshape the music industry with Saweetie wondering "Is It The Way" in our CBX Vibes!