Today in the Market (10/5/2023)

Good Evening! On Thursday, U.S. equities almost rebounded but ended the day with little changes. This occurred as there was temporary relief from the bond market turmoil. The attention has shifted toward the significant labor market data that will be released tomorrow. 

All three indexes followed a similar path with a moment of gains in the second half but ultimately ended the day in the red. The S&P 500, The Nasdaq Composite, and the Dow Jones decreased by 0.13%, 0.12%, & 0.03%, respectively. 

NEW SPORT TIER!

Warner Bros. Discovery (WBD) has introduced a new sports tier on its “Max” service in an effort to attract a larger user base to its platform in a highly competitive streaming environment

So how much do they want for the new tier? The bundle will be free until February 29, 2024. However, it will then cost an extra monthly fee of $9.99 for Max Users.

Is it worth it though? Well, the new “Bleacher Report” add-on offers users the opportunity to view live games from athletic leagues like the MLB, NHL, and NBA, as well as other significant sporting events like March Madness. In addition, subscribers will have access to TNT’s renowned studio show, “Inside the NBA”, as well as a selection of international games! 

The end game! The beginning of the rollout aligns with the company’s effort to enhance the profitability of its streaming operation. So far, the introduction of Max in late May resulted in significant marketing and launch expenses, leading to a direct-to-consumer deficit of $3 million during WBD’s second fiscal quarter. However, the increase in financial performance is significant when contrasted with the loss of $558 million incurred during the previous year.

A NEW ASSET CLASS?

Starting today, anyone using the trading platform “Public” has the opportunity to acquire shares (valued at $10) of the company that has ownership of a portion of the original music rights to the Shrek Series

Why would anyone be interested in this? The collection of 768 tracks generates royalty anytime the films are streamed, on TV, or used in amusement parks. Each quarter, shareholders would get a portion of the profits.

The big picture! The sale of shares for Shrek signifies the Public’s entry into the realm of music royalties, which could become a potentially profitable business that is now accessible to retail investors. In contrast to stocks or ETFs, music royalties can be immune to economic downturns, making this alternative asset class appealing for portfolio diversification. On top of that, it could be another source of generating passive income, of course, if the music doesn’t fall out of the trend. 

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