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=E2=80=A6the NFL and Amazon invest = in =E2=80=9Csports-adjacent=E2=80=9D content
Disclosures
 

A winning fo= rmula? (Jeff Spicer/Getty Images)

 
<= !--[if mso | IE]>
<= td style=3D"vertical-align:top;padding:0;">
Last Week=E2=80=99s Marke= t Moves
=
 
Dow Jo= nes
34,347 (+1.78%)		S&P 500
4,026 (+1.53%)		Nasdaq
11,226 (+0.72%)		Bitcoin$16,517 (-0.98%)
Dow Jones
34,347 (+1.78%)		S&P 500
4,026 (+1.53%)
Nasdaq11,226 (+0.72%)Bitcoin
$16,517 (-0.98%)

<= table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"presentation= " width=3D"100%">

Hey Snackers,

Hol= iday travel can be stressful, especially when you=E2=80=99re trying to chec= k your pet through TSA. Screening officers at JFK identified a live orange cat= stuffed in a trolley. They weren=E2=80=99t feline it.

Stocks inched = up for the short week after Fed officials suggested they might reduce the s= ize of future rate hikes. Investors are eyeing Black Friday sales as the ho= liday shopping season kicks off.

Btw..= . Do you want to start getting Snacks daily? Or prefer to unsubscr= ibe? Manage your subscription preferences here.
<= /table>
=
Punt
<= /table>
= =

The NFL and Amazon invest in sports-adjacent= content to lure fans with =E2=80=9Ccompanion=E2=80=9D shows

MVP of the season=E2=80=A6 =E2=80=9Ccomp= anion content.=E2=80=9D Sports shows like Netflix=E2=80=99s =E2=80=9CDrive to Survive=E2=80=9D (about Formula 1 racers) have become h= ugely popular as younger sports fans seek new ways to engage. Now, more med= ia giants are looking to capitalize on the companion-content craze:

  • Wo= rking overtime: This month Amazon struck a deal t= o stream games of high-school b-ball league Overtime Elite= on Prime =E2=80=94 and produce a companion docu-series.
  • Hail Maverick: Also this month, the N= FL teamed up with Skydance Media (the studio behind =E2=80= =9CTop Gun: Maverick=E2=80=9D) to make original sports content like docs an= d shows.

Getting in the game=E2=80=A6 is more = important =E2=80=94 and more expensive =E2=80=94 than ever. As Netf= lix, Amazon, Apple, Disn= ey, and Comcast-owned Peacock compete for streami= ng supremacy, they=E2=80=99ve struck pricey live-broadcasting deals with th= e NFL, MLB, and MLS to attract subscribers. The amount paid for US sports b= roadcasting rights surpassed $21B this year, a 26% jump from 2019.

  • Bid= ding bonanza: Netflix recently lost its bid for Formula 1 streamin= g rights to Disney, which lost a separate bid for Indian cricket r= ights.
  • Joining the little le= agues: To save money, Netflix has reportedly considered streaming = more niche sports like pro surfing and cycling.
  • More bang for less buck: For streaming titans,= sports-adjacent content could bring the popularity of live sports without = the big broadcasting price tag.
=
THE TAKEAWAY

Adjacency =3D opportunity=E2= =80=A6 because fans love to get up close and personal with their f= avorite stars. Social-media-adjacent businesses like OnlyFans, Patreon, and Cameo succeeded by givi= ng superfollowers an exclusive peek (beyond the social page). Gaming-adjace= nt Twitch took off by giving fans interactive access to top gamers with liv= estreams. Streaming giants are betting on sports-adjacent content for the s= ame reason: they know fans love getting an inside look.

<= /tr>
<= div style=3D"font-family: 'Capsule Sans Text', Arial; font-weight: 700; let= ter-spacing: 0.03em; text-transform: uppercase; color: #000000; padding: 6p= x 19px; border-radius: 30px; border: 0; background-color:rgb(195, 245, 60);= display: inline-block;">Events
<= /td>
<= /table>
=
<= div style=3D"font-family:'Nib Pro', Arial;font-size:24px;font-weight:600;li= ne-height:32px;text-align:left;color:#000000;">

Coming up this week...

Like an Advent calendar=E2=80=A6 Instead of chocolate, the surprise is labor market #s. On Friday, the = Labor Department will release unemployment data for November. In October, t= he unemployment rate ticked up to 3.7% and stocks reacted positively (bad n= ews =3D good news). While unemployment=E2=80=99s still near historic lows, = we saw a fresh wave of layoffs this month, from Twitter to Amazon to Meta (Google might be next). B= ut tech openings are still above prepandemic levels, and widespread layoffs= across industries remain low. That could be changing: last week=E2=80=99s = jobless claims hit their highest level since August.

Not-so-s= ilver cloud lining=E2=80=A6 Shares of Salesforce,= Snowflake, and Workday have lost nearly = half their value this year as higher interest rates curb cloud spend. Sales= force's revenue rose 22% last quarter, but it cut its full-year forecas= t as the strong US dollar (and slowing demand) pressure profits. But as tec= h layoffs pile up, companies are still investing in cloud software to help = them do more with less. Cloud spend is forecast to grow 21% next year, but = analysts aren=E2=80=99t expecting breakthrough results when the cloud compa= nies report this week.

<= div style=3D"font-family: 'Capsule Sans Text', Arial; font-weight: 700; let= ter-spacing: 0.03em; text-transform: uppercase; color: #000000; padding: 6p= x 19px; border-radius: 30px; border: 0; background-color:rgb(195, 245, 60);= display: inline-block;">Zoom Out
<= /table>
=
<= div style=3D"font-family:'Nib Pro', Arial;font-size:24px;font-weight:600;li= ne-height:32px;text-align:left;color:#000000;">

Stories we=E2=80=99re wat= ching...

Status-symbol cuffs are in= =E2=80=A6 Despite global gloom, luxury jewelers like Carti= er, Bulgari, and Tiffany are gro= wing as branded bling booms. Last year the luxe jewelry market grew 7% from= prepandemic totals. Bulgari=E2=80=99s planning to double production at its= massive Italian jewelry factory, and Cartier is looking to open two new pl= ants next year. Even fashion-focused Prada is launching it= s first jewelry collection. Branded pieces like Cartier Love bracelets are = driving demand more than nameless gems.

FTX-tra messy=E2=80= =A6 Lawyers for bankrupt crypto exchange FTX went= to court last week to explain just how bad the company's books are. Th= ink: a "substantial amount" of customers' crypto was sto= len or is just straight up missing =E2=80=94 that kind of bad. The= Bahamian-based exchange owes $3B+ to its top 50 creditors (but hasn't = publicly identified them). If they're institutional players (like crypt= o lenders), that bad debt could supercharge contagion. Meanwhile, customer funds remain frozen, an= d experts say sorting through FTX's mess could take years.

<= div style=3D"font-family: 'Capsule Sans Text', Arial; font-weight: 700; let= ter-spacing: 0.03em; text-transform: uppercase; color: #000000; padding: 6p= x 19px; border-radius: 30px; border: 0; background-color:rgb(195, 245, 60);= display: inline-block;">ICYMI
= <= /table>

Last week's highlights.= ..

=

What else we're Snackin'
  • Taxing: Tax-prep services like H&R Block, TaxAct, and TaxSlayer reportedly sent users' info =E2=80=94 in some cases names, incom= es, and refund amounts =E2=80=94 to Meta, which uses perso= nal data to fuel its targeted ads biz.
  • Checked: The raises are com= ing: employers plan to increase salary budgets by more than 4% next year. B= ut with inflation nearly at 8%, that bump might not be enough to b= oost purchasing power.
  • Spend: FTX and its then-CEO Sam Bankman-= Fried spent millions on political donations and consultants. Recipients are= now distancing themselves as SBF goes from "white knight" to par= iah.
Want yo= ur Snacks daily?
The Daily Newsletter
Get fresh takes on finan= cial news every week day. Try a sample:

=F0=9F=91=96 Abercrombie is Fitch again =E2=80=A2 Nov 23, 2022
=F0=9F=8F=B0 Disney=E2=80=99s Battle of the Bobs =E2=80=A2 Nov 22, 2022
=F0= =9F=9B=8D=EF=B8=8F Marshalls=E2=80=99 treasure-hunt win =E2=80=A2 N= ov 18, 2022

Subscribe to the Daily
=
<= /table>
=
Snack Fact Of t= he Day
The 2022 World = Cup is expected to attract 5B viewers, up from 3.5B in 2018

<= /table>
This Week
  • Monday: Cyber Monday. Earnings expected from Pinduoduo
    • Tuesday: Earnings expected= from Intuit, Workday, CrowdStrik= e, and NetApp
  • Wednesday: Earnings expected from Salesforce, Snowflake, Hormel, Splun= k, Okta, XPeng, Box, Victoria=E2=80=99s Secret, Petco, a= nd La-Z-Boy
  • Thursday: Jobless claims. Earnings expected from TD Bank<= /strong>, Dollar General, Kroger, Ulta Beauty, UiPath, ChargePoint, and Asana
  • Friday: November unemployment data release. Earnings expected fr= om Cracker Barrel

Authors of this Snacks own: = shares of AB InBev, Amazon, Apple, Google, Disney, and Netflix

ID: 26= 11187

<= div class=3D"mj-column-per-50 mj-outlook-group-fix" style=3D"font-size:0px;= text-align:left;direction:ltr;display:inline-block;vertical-align:top;width= :50%;">
=
=
Robinhood Snacks newsletters reflect the opinions of only t= he authors who are associated persons of Robinhood Financial LLC (Member SIPC) and do not reflect the views of Robinhood Markets, Inc= . or any of its subsidiaries or affiliates. They are for informational purp= oses only, and are not a recommendation of an investment strategy or to buy= or sell any security, digital asset (cryptocurrency, etc) in any account. = They are also not research reports and are not intended to serve as the bas= is for any investment decision. Any third-party information provided therei= n does not reflect the views of Robinhood Markets, Inc., Robinhood Financia= l LLC, or any of their subsidiaries or affiliates. All investments involve = risk including the loss of principal and past performance does not guarante= e future results.
To unsubscribe fro= m all commercial emails, click here
--3b5cef7387984eabd6634cebb7a3fbf172d200357cadca65bdc86df1e959 Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset=utf-8 Mime-Version: 1.0
=E2=80=A6the NFL and Amazon invest = in =E2=80=9Csports-adjacent=E2=80=9D content
D= isclosures
 <= /div>
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A winning = formula? (Jeff Spicer/Getty Images)

 
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=
Last Week=E2=80=99s Marke= t Moves
=
 
Dow Jo= nes
34,347 (+1.78%)		S&P 500
4,026 (+1.53%)		Nasdaq
11,226 (+0.72%)		Bitcoin$16,517 (-0.98%)
Dow Jones
34,347 (+1.78%)		S&P 500
4,026 (+1.53%)
Nasdaq11,226 (+0.72%)Bitcoin
$16,517 (-0.98%)
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Hey Snackers,

Hol= iday travel can be stressful, especially when you=E2=80=99re trying to chec= k your pet through TSA. Screening officers at JFK identified a live orange = cat stuffed in a trolley. They weren=E2=80=99t feline it.

Stocks inch= ed up for the short week after Fed officials suggested they might reduce th= e size of future rate hikes. Investors are eyeing Black Friday sales as the= holiday shopping season kicks off.

Bt= w... Do you want to start getting Snacks daily? Or prefer to unsub= scribe? Manage your subscription preferences here.

3D""
=
Punt
<= /table>

T= he NFL and Amazon invest in sports-adjacent content to lure fans with =E2= =80=9Ccompanion=E2=80=9D shows

MVP = of the season=E2=80=A6 =E2=80=9Ccompanion content.=E2=80=9D Sports= shows like Netflix=E2=80=99s =E2=80=9CDrive to Survive=E2= =80=9D (about Formula 1 racers) have become hugely popular as younger sport= s fans seek new ways to engage. Now, more media giants are looking to capit= alize on the companion-content craze:

    =
  • Working overtime: This = month Amazon struck a deal to stream games of high-school = b-ball league Overtime Elite on Prime =E2=80=94 and produc= e a companion docu-series.
  • H= ail Maverick: Also this month, the NFL teamed up with Skyd= ance Media (the studio behind =E2=80=9CTop Gun: Maverick=E2=80=9D)= to make original sports content like docs and shows.

G= etting in the game=E2=80=A6 is more important =E2=80=94 and more e= xpensive =E2=80=94 than ever. As Netflix, Amazon, Apple, Disney, and Comca= st-owned Peacock compete for streaming supremacy, they=E2=80=99ve = struck pricey live-broadcasting deals with the NFL, MLB, and MLS to attract= subscribers. The amount paid for US sports broadcasting rights surpassed $= 21B this year, a 26% jump from 2019.

    <= li style=3D"margin-bottom: 12px;">Bidding bonanza: Netflix= recently lost its bid for Formula 1 streaming rights to Disney, which lost= a separate bid for Indian cricket rights.
  • Joining the little leagues: To save money,= Netflix has reportedly considered streaming more niche sports like pro sur= fing and cycling.
  • More bang = for less buck: For streaming titans, sports-adjacent content could= bring the popularity of live sports without the big broadcasting price tag= .
THE TAKEAWAY

Adjacency =3D opportunity=E2=80=A6 because fans love to get up close and personal with their favorite s= tars. Social-media-adjacent businesses like OnlyFans, Patreon, and Cameo succeeded by giving superf= ollowers an exclusive peek (beyond the social page). Gaming-adjacent Twitch= took off by giving fans interactive access to top gamers with livestreams.= Streaming giants are betting on sports-adjacent content for the same reaso= n: they know fans love getting an inside look.

<= /tr>
<= div style=3D"font-family: 'Capsule Sans Text', Arial; font-weight: 700; let= ter-spacing: 0.03em; text-transform: uppercase; color: #000000; padding: 6p= x 19px; border-radius: 30px; border: 0; background-color:rgb(195, 245, 60);= display: inline-block;">Events
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=
<= div style=3D"font-family:'Nib Pro', Arial;font-size:24px;font-weight:600;li= ne-height:32px;text-align:left;color:#000000;">

Coming up this week...

Like an Advent calendar=E2=80=A6 Instead of chocolate, the surprise is labor market #s. On Friday, the = Labor Department will release unemployment data for November. In October, t= he unemployment rate ticked up to 3.7% and stocks reacted positively (bad n= ews =3D good news). While unemployment=E2=80=99s still near historic lows, = we saw a fresh wave of layoffs this month, from Twitter to Amazon to Meta (Google might be next). But tech o= penings are still above prepandemic levels, and widespread layoffs across i= ndustries remain low. That could be changing: last week=E2=80=99s jobless c= laims hit their highest level since August.

Not-so-silver clo= ud lining=E2=80=A6 Shares of Salesforce, = Snowflake, and Workday have lost nearly half thei= r value this year as higher interest rates curb cloud spend. Salesforce'= ;s revenue rose 22% last quarter, but it cut its full-year forecast as the = strong US dollar (and slowing demand) pressure profits. But as tech layoffs= pile up, companies are still investing in cloud software to help them do m= ore with less. Cloud spend is forecast to grow 21% next year, but analysts = aren=E2=80=99t expecting breakthrough results when the cloud companies repo= rt this week.

<= div style=3D"font-family: 'Capsule Sans Text', Arial; font-weight: 700; let= ter-spacing: 0.03em; text-transform: uppercase; color: #000000; padding: 6p= x 19px; border-radius: 30px; border: 0; background-color:rgb(195, 245, 60);= display: inline-block;">Zoom Out
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= <= td align=3D"center" class=3D"light" style=3D"font-size:0px;padding:10px 25p= x;padding-top:24px;padding-right:0;padding-bottom:24px;padding-left:0;word-= break:break-word;">

<= div style=3D"font-family:'Nib Pro', Arial;font-size:24px;font-weight:600;li= ne-height:32px;text-align:left;color:#000000;">

Stories we=E2=80=99re wat= ching...

Status-symbol cuffs are in= =E2=80=A6 Despite global gloom, luxury jewelers like Carti= er, Bulgari, and Tiffany are gro= wing as branded bling booms. Last year the luxe jewelry market grew 7% from= prepandemic totals. Bulgari=E2=80=99s planning to double production at its= massive Italian jewelry factory, and Cartier is looking to open two new pl= ants next year. Even fashion-focused Prada is launching it= s first jewelry collection. Branded pieces like Cartier Love bracelets are = driving demand more than nameless gems.

FTX-tra messy=E2=80= =A6 Lawyers for bankrupt crypto exchange FTX went= to court last week to explain just how bad the company's books are. Th= ink: a "substantial amount" of customers' crypto was stolen or is= just straight up missing =E2=80=94 that kind of bad. The Bahamian= -based exchange owes $3B+ to its top 50 creditors (but hasn't publicly = identified them). If they're institutional players (like crypto lenders= ), that bad debt could supercharge contagion. Meanwhile, customer funds remain frozen, and experts sa= y sorting through FTX's mess could take years.

<= div style=3D"font-family: 'Capsule Sans Text', Arial; font-weight: 700; let= ter-spacing: 0.03em; text-transform: uppercase; color: #000000; padding: 6p= x 19px; border-radius: 30px; border: 0; background-color:rgb(195, 245, 60);= display: inline-block;">ICYMI
= <= /table>

Last week's highlights.= ..

  • Bobs: The old Bob gets his old job: Disney icon = Bob Iger shocked the entertainment industry by announcing his return as CEO= (Bob Chapek is out). The surprise move proves brand makers are hard to rep= lace.
  • Offside: World Cup host= Qatar has kicked off controversy, from anti-LGBTQ+ moves to alcohol bans i= n stadiums. Despite vocal opposition, sponsors like Budweiser and Adidas aren=E2=80=99t willing to ditch one of the = world=E2=80=99s top advertising opportunities.
  • Fitch= : Abercrombie's back with a cologne-scent= ed vengeance: Abercrombie and American Eagle shares soared= last week after the tween-friendly retailers posted uplifting results as t= hey overhauled inventories.

What else we're Snackin'
  • Taxing: Tax-prep services like H&R Block, TaxAct, and TaxSlayer reportedly sent users' info =E2=80=94 in some cases names, inco= mes, and refund amounts =E2=80=94 to Meta, which uses pers= onal data to fuel its targeted ads biz.
  • Checked: The raises are coming: employers= plan to increase salary budgets by more than 4% next year. But with inflat= ion nearly at 8%, that bump might not be enough to boost purchasin= g power.
  • Spend: FTX and its then-CEO Sam Bankman-F= ried spent millions on political donations and consultants. Recipients are = now distancing themselves as SBF goes from "white knight" to pari= ah.
Want yo= ur Snacks daily?
The Daily Newsletter
Get fresh tak= es on financial news every week day. Try a sample:

=F0=9F=91=96 Abercrombie is Fitch again =E2=80=A2 Nov 23, 2022
=F0=9F=8F=B0 = Disney=E2=80=99s Battle of the Bobs =E2=80=A2 Nov 22, 2022
=F0=9F= =9B=8D=EF=B8=8F Marshalls=E2=80=99 treasure-hunt win =E2=80=A2= Nov 18, 2022

<= /tr>
Subscribe to the Daily
<= /table>
=
Snack Fact Of t= he Day
The 2022 World = Cup is expected to attract 5B viewers, up from 3.5B in 2018

<= /table>
This Week
  • Monday: Cyber Monday. Earnings expected from Pinduoduo
    • Tuesday: Earnings expected= from Intuit, Workday, CrowdStrik= e, and NetApp
  • Wednesday: Earnings expected from Salesforce, Snowflake, Hormel, Splun= k, Okta, XPeng, Box, Victoria=E2=80=99s Secret, Petco, a= nd La-Z-Boy
  • Thursday: Jobless claims. Earnings expected from TD Bank<= /strong>, Dollar General, Kroger, Ulta Beauty, UiPath, ChargePoint, and Asana
  • Friday: November unemployment data release. Earnings expected fr= om Cracker Barrel

Authors of this Snacks own: = shares of AB InBev, Amazon, Apple, Google, Disney, and Netflix

ID: 26= 11187

Robinhood Snack= s newsletters reflect the opinions of only the authors who are associated p= ersons of Robinhood Financial LLC (Member SIPC) a= nd do not reflect the views of Robinhood Markets, Inc. or any of its subsid= iaries or affiliates. They are for informational purposes only, and are not= a recommendation of an investment strategy or to buy or sell any security,= digital asset (cryptocurrency, etc) in any account. They are also not rese= arch reports and are not intended to serve as the basis for any investment = decision. Any third-party information provided therein does not reflect the= views of Robinhood Markets, Inc., Robinhood Financial LLC, or any of their= subsidiaries or affiliates. All investments involve risk including the los= s of principal and past performance does not guarantee future results.
To unsubscribe from all commercial emails, click here<= /a>
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