On The Rock
Top Themes of the Week
Happy Sunday & Happy Presidents Day Weekend!
Sports
The excitement of the Daytona 500 will have to wait another day! Due to persistent rain, the 66th running of the "Great American Race" has been postponed until Monday, February 19th, at 4 pm ET. This marks a historic first for the event, creating a rare Monday doubleheader with the previously postponed Xfinity Series race starting at 11 am ET.
The roar of engines will fill the air this week as NASCAR launches its new season, but the competition on the track might be overshadowed by an off-track struggle. Teams arriving at Daytona International Speedway seeking to dethrone Team Penske, reigning champions for two years, yet a contentious revenue-sharing agreement remains unresolved. Months of negotiations between teams and NASCAR haven't yielded a new agreement, leaving terms in a sore spot. This battle threatens to distract from the on-track action over the season.
Additionally, a new sports streaming bundle from ESPN, Fox, and Warner Bros. Discovery is unlikely to face immediate intervention from Congress or the FCC. However, analysts predicts that potential harm to other players in the market could eventually trigger a government reaction. This highlights the ongoing debate surrounding antitrust implications in sports broadcasting.
Media
Sony Music Group SONY 0.00%↑ has acquired a 50% stake in Michael Jackson's music assets for a hefty sum, estimated between $1.2 billion and $1.5 billion. This deal secures a significant portion of the legendary artist's legacy for Sony, further solidifying their presence in the music industry.
Netflix NFLX 0.00%↑ is taking a two-pronged approach to attract advertisers this year. They'll have an in-person presentation during traditional upfront week in May, while also continuing to build their ad-supported content. This strategy highlights their efforts to expand their advertising business, which is still in its early stages.
While Paramount PARA 0.00%↑ Plus offered the lowest latency among streaming services during the Super Bowl (averaging 42.73 seconds), viewers still reported issues with slow loading, lagging, and crashing. This stands in contrast to CBS's record viewership figures, underscoring the challenges of streaming live events at scale. Despite the Super Bowl success, Paramount Global announced layoffs of around 800 employees, raising questions about their broader strategy.
Tech Titans: AI, Social Media, Gaming, and More
Microsoft MSFT 0.00%↑: Microsoft's new AI assistant, Copilot, has garnered mixed reviews from testers. While praised for its usefulness, concerns about its price and occasional shortcomings linger. Meanwhile, Microsoft is doubling down on AI, partnering with OpenAI to develop "GPTBot," a web search product powered by GPT-4 and Bing that could challenge Google's dominance. On the gaming front, the Xbox Game Pass subscriber base continues to grow, reaching 34 million, and Microsoft announced plans to bring some Xbox exclusives to PS5 and Switch, expanding their reach.
Apple AAPL 0.00%↑: Apple is stepping into the AI code completion arena with a tool similar to Microsoft's Copilot. This feature, potentially arriving in Xcode later this year, could automate parts of the software development process. Additionally, Meta CEO Mark Zuckerberg threw down the gauntlet, positioning the Quest 3 as a superior VR experience compared to Apple's Vision Pro, despite Meta's ongoing financial losses in the AR/VR space. Reports suggest a wave of early adopters are returning their Apple Vision Pro headsets, highlighting potential issues with the device.
Meta META 0.00%↑: Meta is facing scrutiny for its monetization strategies, with a new 30% fee implemented for advertisers boosting post visibility on Facebook and Instagram's iOS apps. Despite CEO Mark Zuckerberg's previous statements about prioritizing non-political content, Meta is testing a new "trends" feature in Threads that could potentially surface political topics.
Slack CRM 0.00%↑: Enterprise Slack users can now leverage AI-powered summaries of threads and channel activity, making it easier to catch up on work discussions.
YouTube GOOGL 0.00%↑: As part of its ongoing competition with TikTok, YouTube is empowering users to incorporate or "remix" music videos into their Shorts content, taking advantage of its vast library of official music videos.