CBX Daily 12/09/2024

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CultureBanx Team
December 09, 2024

Today, the rising cost of family health insurance premiums is making healthcare a rare buy, but let’s start with how Hollywood overlooking Latinos is making profits die…

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Latino Underrepresentation In Hollywood Is Leaving Profits Behind  

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Despite Latinos comprising nearly 20% of the U.S. population, their visibility in media remains shockingly low. A recent study by the USC Inclusion Initiative examined 1,600 top-grossing films from 2007 to 2022 and found that Latinos held just 5% of lead roles in major films. Behind the camera, the situation is similarly bleak, with only 3.5% of casting directors identifying as Hispanic or Latino. These disparities are not just cultural oversights—they represent a significant missed financial opportunity for the entertainment industry.     

Annual Health Premiums Surge For Family Insurance Coverage          

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The annual cost of family health insurance coverage at work is soaring with employees shelling out an average of $6,575 for their share of the premium, up almost $500, or close to 8%, from last year. This considerable increase in health insurance premiums could be the tipping point with nearly two-thirds of employed Black and Hispanic adults who reported difficulty affording health care costs.     

How Shopify, Amazon & Google Are Redefining Retail        

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Shopify (SHOP +2.72%), Amazon (AMZN 1+.05%), and Google (GOOG -0.46%) are going head-to-head to dominate the retail sector. The stakes have never been higher and now, the trio is integrating more advanced AI technologies, to enable small and mid-sized retailers to access sophisticated customer targeting, dynamic pricing, and inventory management features. Shopify already teamed up with Coveo to integrate AI and offer more personalized shopping experiences and streamlined services.    

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.

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

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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    

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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.    

Vibes of the Week

It’s a "Lonely Road" for Latinos as Hollywood overlooks their input. Roddy Ricch and Terrace Martin expound in our CBX Vibes!