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Hey Snackers,
Cristiano Ronaldoâs new YouTube channel broke the world record for the fastest channel to hit 1M subscribers (within 90 minutes of launching). The soccer superstarâs channel, started on Wednesday, has 26.7M subs and counting. Social-media #goals.
Stocks dropped yesterday, dragged down by a tech selloff. Today, all eyes are on Fed Chair Powellâs speech at Jackson Hole, which could shed light on future rate policy.
đ§ All up in your quizness: Try to go 7 for 7 in our weekly Snacks Seven quiz, which covers this weekâs biggest biz news. Hereâs question #1:
For the first time, a _____ is worth $1M. (Check your answer.)
Chick-fil-A is said to be starting a streamer as corporations go Hollywood
Another one, thank you⊠While major Hollywood streaming services bet on live sports, a possible upstart is putting its money on waffle fries. Chick-fil-A is reportedly planning to launch a streaming platform this year. The 3K-restaurant chicken joint is apparently working with production companies to create âfamily-friendlyâ reality shows, game shows, and scripted content. Chick-fil-A tapped an exec behind âX Factorâ and âTop Gearâ to lead programming that will (probably) feature folks eating nuggets.
Family size: Chick-fil-Aâs owners, the Cathy family, arenât new to entertainment. Theyâre said to be invested in a major Atlanta studio thatâs had contracts with Disneyâs Marvel.
The Roostelor: Chick-fil-A could enter reality TV at a time when viewers are hungry for new content: from April to June, reality-TV production in LA plunged 57% YoY.Â
Decent timing: The five top streamers made $3.2B in the first half of this year, up from a $542M loss in the same period last year.
Going multi-hyphenate⊠corporation/aspiring filmmaker. With audiences fractured across TV, web, and mobile, ads arenât hitting like they used to. That has companies trying to grab attention by making content that looks more like TV. Starbucks debuted a content studio in June, and Coke created short films for Amazon last year. Airbnb produced an MTV doc, Lyft made a game show, and last year Bud maker AB InBev rolled out an entertainment division. Even hospitals are calling action: Northwell Health just introâd a TV-content division.
Streaming doesnât have to be the main course⊠It can just be a tasty side hustle. Itâs a notoriously difficult business, but itâs probably easier if youâre only making a few game shows about chicken sandwiches, and looking at it as more of an advertising and customer-data play. While it took companies like Paramount and Disney years to make their streaming units profitable, smaller streamers like Dropout TV have managed it much faster. It helps that Chick-fil-A has the money to burn: it pulled in almost $22B in sales last year.
Beyond Nasdaq⊠Monogram's new investment potential
Monogram (Nasdaq: MGRM), known for its autonomous robotic surgical systems, completed a crowd funded public offering and NASDAQ listing last year. Whatâs next?
They just filed for FDA approval* to market and commercialize their patented AI joint replacement tech. By the year 2027, 50% of knee replacement surgeries will be robotic âup from 12% today.
 Now, Monogramâs offering a new chance for investors: the opportunity to invest in preferred stock with an 8% dividend (in cash or kind). Their common stock traded at a 52-week high of $5.15**, and its closing price on 8/22 was $3.40, but the unlisted preferred stock (which is convertible into one share of common) is available for $2.25/share.
Monogram currently plans to close the Series D Preferred offering on September 12, 2024.***
**52-week range for MGRM is $1.53-$5.15 as of 8/22/24.
Chinaâs new record-setting video game is expanding its influence in gaming and beyond
Thatâs bananas⊠âBlack Myth: Wukong,â a Chinese PC-console game where you play as a mythical Monkey King, set a record on the Steam game store for most first-day plays. More than 2.4M gamers played it concurrently after its debut, making it Steamâs most-played single-player title, beating âCyberpunk 2077â and âElden Ring.â Itâs highly rated on gaming sites too. The $60 game took six years and a reported $50M+ to make, but it seems to be paying off for China.
Mobilized: Tencent-backed developer Game Science made âBlack Myth: Wukong.â Tencent is Chinaâs top game publisher, but itâs mostly put out mobile hits like âHonor of Kings.â
Calling AAA: âBlack Myth: Wukongâ is considered Chinaâs first âAAAâ game, a loosely defined term that denotes advanced graphics and gameplay.
Cominâ for consoles⊠Chinaâs a major player in the global gaming industry, but mostly on mobile. âBlack Myth: Wukongâ signals a shift to PCs and consoles, and experts say its success could encourage Chinese companies to develop more games to rival hits from Take-Two Interactive and Microsoft-owned Bethesda. But Chinaâs not just looking to nab a âGame of the Yearâ nom. âBlack Myth: Wukong,â which is based on a classic Chinese novel and features Chinese landmarks, expands the countryâs cultural clout, aka its âsoft powerâ (think: the prevalence of Hollywood flicks in foreign theaters).
A Chinese state-owned newspaper wrote, âThe success of âBlack Myth: Wukongâ is not only a victory for the gaming industry, but also an important milestone in the overseas expansion of Chinese culture.â
Soft power is hard to control⊠China doesnât seem to think that any press is good press. Streamers told The New York Times that a company affiliated with âBlack Myth: Wukongâ gave them a list of topics to avoid chatting about while playing the game live (like âquarantine,â âfeminist propagandaâ). Chinaâs censorship could make global gamers wary of Chinese titles (some streamers refuse to play âBlack Myth: Wukongâ).
What else weâre Snackinâ
Spin: Peloton shares soared 35% after the pandemic darling spun up its first sales growth since 2022. Pelotonâs surprise results came after years-long turnaround efforts and growing demand for its treadmills.
CA: OpenAI spoke out against a California bill requiring stricter AI safety measures (like building a âkill switchâ for models). It joins AI groups and techies like Meta and Google who say the bill could hurt innovation.
Halt: Canadaâs two biggest freight-rail companies locked out workers after failing to reach a deal with the Teamsters union. The stoppage could cost Canada $250M/day, and govât officials are racing to resolve the dispute.
Juiced: BMW sold more EVs than Tesla in Europe for the first time last month. As rival carmakers postpone electric goals, BMWâs EV sales have shot up 50% this year thanks to its i4 and iX1 models.
Bun: Burger King will offer Walmart+ subscribers discounts and four free Whoppers a year. Walmartâs been piling on perks for its $98/year membership as it tries to compete with Amazonâs Prime.
Snack Fact of the Day
Americans now say it takes a $2.5M net worth to be considered wealthy
Friday
Fed Chair Powell speaks at Jackson Hole symposium
New-home sales
Earnings expected from Gold Fields
Authors of this Snacks own shares of: Alphabet, Amazon, Disney, Microsoft, Starbucks, Tesla, and Walmart
Advertiser's Disclosure:
* A filing for FDA approval is no guarantee of an actual FDA approval.
*** This is a paid advertisement for Monogram Technologies Series D Preferred Stock offering. A prospectus supplement and accompanying base prospectus have been filed with the SEC. Before making any investment, you are urged to read the prospectus supplement and accompanying base prospectus carefully for a more complete understanding of the issuer and the offering.
The securities offered by Monogram are highly speculative. Investing in these securities involves significant risks. The investment is suitable only for persons who can afford to lose their entire investment. Investors must understand that such investment could be illiquid for an indefinite period of time. There is no existing public trading market for the Series D Preferred Stock. Monogram does not intend to apply for listing of the Series D Preferred Stock or the common stock purchase warrants on a national securities exchange or quoted on an over the counter market.
DealMaker Securities LLC, a registered broker-dealer, and member of FINRA | SIPC, located at 105 Maxess Road, Suite 124, Melville, NY 11747, is the Intermediary for this offering and is not an affiliate of or connected with the Issuer. Please check our background on FINRA's BrokerCheck.