CBX Daily 12/04/2024

Author

CultureBanx Team
December 04, 2024

Today, BNPL is leading in the 'Black Friday’ race, but let’s start with how the king of pop’s estate is setting the pace in the music space…

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Michael Jackson’s Estate Sets The Gold Standard For Music Business  

CBX Vibe

Unless you’ve been living under a rock, you may have noticed that music intellectual property has become one of the most valuable assets in the entertainment business. Michael Jackson’s estate exemplifies this trend, having earned an astonishing $3.3 billion since his death 15 years ago. With income streams spanning music, merchandise, licensing, and media, his legacy reached new heights with the recent $600 million sale of his music catalog.    

Black Friday Spending Spree Fueled By BNPL Purchases    

CBX Vibe:

With the holiday shopping season in full swing, consumers are using Buy Now, Pay Later (BNPL) loans for everything from groceries and dining out to travel, technology items and home decor. CNBC’s Small Business Survey reported higher BNPL popularity among Black and Hispanic Americans with 12% and 13% respectively saying they use these platforms for holiday purchases, compared to only 5% of white Americans. Fast growing BNPL companies like Klarna and Affirm (AFRM +2.47%) are expected to capitalize on this and set new records this season, driving $18.5 billion in online spend, up 11.4% from this time last year.    

CEO Searches Stalling With Shift In Work-Life Balance    

CBX Vibe:

In the corporate world, that is forever changing, finding the right CEO has become a marathon rather than a sprint. What once took a mere 3-4 months is now dragging out to almost 9 to 12 months. Companies find themselves grappling with unsuitable candidates and a lack of local talent, forcing them to cast wider nets. However, this extended search isn't just a corporate inconvenience—it highlights a symptom of deeper shifts in the workforce and leadership expectations.   

Tune-in Tuesdays!

Trump has threatened a 100% tariff on BRICS countries if they move forward with creating a new currency. Is this a strategic power play to protect the dollar’s status, or a heavy-handed approach to stifle emerging economies?

A. "Power is Mine" by SpookyVic, prod.zed – The BRICS push for a new currency is seen as an effort to reclaim financial independence and Trump’s decision is a desperate effort to cling to America’s position as the global financial leader
B. "Tread Carefully" by SZA – Trump is sending a loud message to emerging economies, that if they challenge the U.S. dollar, they risk facing serious consequences in the global marketplace
C. "New Rules" by Dua Lipa – Trump’s tariff threat means he’s shaking in his boots and that the U.S. can’t maintain its economic dominance. BRICS, with persistence can spark a global power dynamics shift

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 it’s a tie between ‘Take the money and run’ and ‘Born to be wild’ with the duct-taped banana art.

Exploring The $800 Billion Elephant In The Metaverse   

CBX Vibe:

The metaverse as advertised promises a decentralized network of environments leveraging blockchain technology to overcome the limitations of the physical world. Yet, many skeptics believe the metaverse and underpinning cryptocurrencies are a farce only conceived to make a select minority rich. Either way, the metaverse is set to become embedded in every industry, from gaming, to fashion, to real estate. A construct of contemporary society, the global metaverse revenue opportunity could approach $800 billion in 2024, and left unchecked it will adopt whiteness as the societal default.   

Why Drake vs Kendrick Lamar Feud Boosts Music Revenues?  

CBX Vibe:

Rap beefs keep artists on their toes and are essential in keeping the HipHop culture alive. In 2007, two big rap stars took the hip-hop beef tradition to lucrative heights. Kanye won by selling 266,000 more albums than 50 Cent that day, totaling over 1.6 million units combined, making the industry over $20 million in one day. The revenue of the U.S. music industry totaled $11.8 billion for the year.  

Vibes of the Week

The music business is experiencing a "New Drop" based on Michael Jackson’s estate as told by Don Toliver in our CBX Vibes!