CBX Daily 5/21/2024

Author

Sabrina Lynch
May 22, 2024

Today Nasdaq’s diversity drive hits a legal bump, but let’s start with how Sub-Saharan Africa is in a billion-dollar streaming triumph…

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Sub-Saharan Africa Hits A High Note By Injecting $28.6 Billion Into The Streaming Industry 

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The music industry is growing at an unprecedented rate thanks to the fandom of taarab, afrobeats,  coupé-décalé and more genres from the African continent. Sub-Saharan Africa has become the only region that has achieved an astonishing 24.7% increase in recorded music revenue, surpassing global averages.  Trailing behind the African music landscape in revenue growth are Asia (14.9%), and Europe (8.9%). However Latin America experienced substantial growth at 19.4%, holding the region’s status as one of the fastest growing markets. 

Nasdaq’s Quest To Increase Board Diversity Faces New Legal Challenges

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Nasdaq’s board diversity rule, aimed at enhancing corporate governance through diversity, faces significant legal and regulatory challenges. The U.S. Court of Appeals for the Fifth Circuit's decision to revisit a challenge to the rule highlights the ongoing legal debate, with constitutional prohibitions against discrimination and restraints on free speech at the center of discussions.

How Drake vs Kendrick Lamar Feud Boosts Music Revenues?

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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.

Increasing Dollars To Black-Owned Sneaker Stores In $80 Billion Industry

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Black individuals consistently account for the share of America’s sneaker sales each year. However, Black retailers hardly profit from the industry’s increasing valuation that is expected to pull in revenues of more than $80 billion in 2024, as a result of being boxed out of the sneaker market by traditional establishments.

Microsoft Shuts Down Police Party At The A.I Playground

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We can all agree AI has revolutionized every industry but in the same breath, it has also perpetuated inequalities and prejudices especially in minority communities. One sector that has been hard hit with AI racial biases is law enforcement with at least six known people wrongfully arrested. And it's not just about prejudices, it has the potential to monitor, track, and surveil individuals without their consent. Without clear guidelines and standards, there is an increased risk of misuse, abuse, and infringement of individuals' rights.

Vibes of the Week

Sub-Sahara Africa is “Back In My Bag” as they make bank. Rapsody knows what’s up. Get into it in our CBX Vibes!