CBX Daily 9/11/2024

Author

Claire Moraa
September 11, 2024

Today, the credit score impact remains uncertain, but let’s start with how cultural exchange through music could cause an economy overturn…

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The Music Industry Is Hitting High Notes In Tourism

CBX Vibe

If your favorite artist was in a town near you, would you travel to see them perform live? If yes, then you've successfully contributed to the rise in music tourism. Travelling to attend music-related events, such as concerts, festivals, or tours not only provides a boost to the local economy but also helps promote cultural exchange and appreciation of music. To put it into perspective, the U.S. alone had a 31% increase in international visitors in 2023 bringing the total to 66.5 million visitors.

Will Buying Now, Paying Later Help Raise People’s Credit Scores?

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With the rising cost of goods, people may feel that Buy Now Pay Later (BNPL) plans can help them buy products they need. Black (46%) and Hispanic/Latino (56%) communities have adopted using BNPL platforms at higher rates within the last year. Though most make their payments on time, the majority of people who use BNPL plans are in debt. Although these plans boast being able to help individuals raise their credit scores, many users do not access these plans for this feature. 

Female Angel Investors Are Rewriting The Venture Capital Playbook

CBX Vibe:

Amid the hurdles and slow rebound from the 2021 highs, a notable and steady expansion has occurred in one segment of the venture capital market: The involvement of female angel investors. Data from the University of New Hampshire's Center for Venture Research reveals that the presence of women in angel investing has been on a consistent upward trajectory over the past three years who now represent nearly 50% of the angel investing community. This indicates a major change in an area traditionally dominated by men.

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The Role Of Black-Owned Sneaker Stores In  A $88 Billion Industry

CBX Vibe:

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 pulled in $88.9 billion in 2023, as a result of being boxed out of the sneaker market by traditional establishments.

Kanye Controversy Ends In Courtroom As Adidas Dodges Investor Lawsuit

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Adidas can enjoy a brief sigh of relief as Judge Karin Immergut has agreed to dismiss a lawsuit brought on by investors in a post-Yeezy sneaker universe. For years, rapper Kanye West had been making headlines for his erratic behavior and extreme remarks, ultimately leading Adidas to cut ties in 2022, following his anti-Semitic remarks. Investors claim that they were not effectively warned about West’s behavior before this occurred. The judge however, sided with Adidas, stating that Kanye West had exhibited such behavior for quite some time, and that Adidas did not 'mislead' investors.

Vibes of the Week

Concerts attract global travellers, with Sexxy Red insisting "U Kno What To Do" about it in our CBX Vibes!