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Turned down for what. Despite being worth an estimated $1.9 billion, it seems even Tim Cook struggles with credit applications sometimes. The Apple CEO was reportedly denied the company’s credit card when it was first tested in 2019, but not for the reasons you may think. Since his status as a public figure makes him a target for impersonation, credit bureaus will often flag “celebrity” accounts like his. We guess sometimes it doesn’t pay to be rich.
In other news… Hollywood studios court AI experts, Saudi Arabia pays to play, and Cirque du Soleil has a Gen Z problem.
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ENTERTAINMENT
While Hollywood creatives strike, studios seek AI specialists for exec ranks
The Future. Hollywood studios are searching for new executives to usher their businesses into the brave new world of AI. It was an inevitability that writers and actors saw coming, with their concerns about AI undermining copyright, limiting compensation, and replacing jobs seeming one step closer. But with the tech also unlocking incredible possibilities for creativity, Pandora’s Box may already be open… highlighting that Hollywood’s best path forward may be crafting rules that honor values like consent, control, and compensation.
Robot recruitment
Bob Iger was right when he said generative AI is something that Disney will embrace. It looks like all of Hollywood plans to with these new job postings.
The Mouse House has a half dozen positions open in divisions like Imagineering and Streaming Advanced Research to “work on advanced personalization efforts involving digital avatars.”
Netflix will pay up to $900,000 for an AI product manager, stating “our business is driven by Machine Learning/Artificial Intelligence.”
Sony’s AI America division has an AI ethics engineer who will work alongside gaming, entertainment, and music teams.
Amazon has an open role for a senior project manager for Prime Video that wants to “define the next big thing in localizing content [and] enhancing content.”
The fact that the tech is in its infancy is exactly what tantalizes studios (and worries writers and actors), which have been reluctant to accept any hard and fast rules for regulating its use in the ongoing contract negotiations.
If there are efficiencies to unlock and money to be saved, the studios don’t want to find themselves handcuffed.
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SPORTS
Off to the Gulf // Illustration by Kate Walker
Saudi Arabia pays its way to soccer glory
The Future. Saudi Arabia is pouring billions of dollars into becoming soccer’s next big league, turning it into a worldwide media sensation and establishing a new arena of soft power. So far, its ambitions have been successful. But analysts believe the league’s legitimacy may rest in the hands of the sport’s newest superstar, France’s Kylian Mbappé, who has the chance to either choose a dizzyingly rich offer to join the Gulf Coast country or establish his legacy by staying in Europe.
Goal bank
Saudi Arabia is making some serious plays.
It has signed some of the most prominent players in the world, thanks to a seemingly unlimited bank account from its government-controlled Public Investment Fund (which took over the country’s top four soccer clubs).
So many players have signed with Saudi teams — including Cristiano Ronaldo with club Al-Nassr for $221 million per year — that ESPN created a “Saudi Arabia transfer tracker” page on its site that updates daily.
With all that star power, IMG, which is selling the league’s media rights, has made exhibition deals all around the globe… but at a bargain price that ensures maximum exposure to help leverage bigger deals for future seasons.
With all that wind in the Saudi Pro League’s sails, it would seem like the entire soccer ecosystem may have turned a blind eye to allegations that the country is using sports as a cover for well-documented human rights abuses (called “sports-washing”).
But two of the sports’ titans, Lionel Messi and Kylian Mbappé, have rejected rich overtures from Saudi clubs. Messi turned down $400 million a year to join MLS’ Inter Miami, while Mbappé is reportedly snubbing club Al-Hilal’s $1.1 billion offer… refusing to even meet with club representatives.
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ENTERTAINMENT
Courtesy of Cirque du Soleil
Cirque du Soleil bends over backwards for Gen Z’s love
The Future. Battered by the pandemic and having to file for bankruptcy in 2020, Cirque du Soleil wants to be more than a series of live shows — it wants to be an all-encompassing brand that Gen Z finds cool. With the average Cirque attendee being 42-years-old (and aging), Cirque sees this as an existential moment for the company. But if the push for cultural ubiquity makes the brand seem too kitschy or try-hard, it may actually cause Cirque du Soleil to lose its luster with its core audience.
A bigger tent
The world’s most famous circus company hopes to “hack popularity” to become relevant with Gen Z.
That involves changing the equation of making 80% of its revenue from live shows and 20% from… well… everything else.
To do so, the brand is releasing a video game (dropping today), a documentary series (amazingly titled Down to Clown), brand partnerships (Motorola), a fragrance, a line of furniture, and a Comic-Con-like convention.
The hope is to show Gen Z that Cirque du Soleil already embodies things Gen Z is into: “campy outfits, kitschy makeup, and feats of athletic daring.”
To pull this strategy off, Cirque du Soleil tapped a “cultural analysts” firm named Cultique, which believes Gen Z just isn’t making the connection between what they love and what’s already apparent in Cirque — giving off the vibe of “over-the-top performance.” The firm’s “Soleil Strategy” wants to turn the circus into something that could be selected for a Met Gala theme.
Or in other words, “there’s a real opportunity to elevate the art of clowning.”
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Highlights
The best curated daily stories from around the web
Media, Music, & Entertainment
The streaming economy in focus: despite NBCUniversal having a blockbuster quarter for revenue (thanks, Mario), Peacock counted a loss of $651 million. Read more → thr
Macro is launching its first podcast in partnership with iHeartPodcasts: Shattering The System, which investigates various crimes and the systems and structures that make them possible. Read more → deadline
A survey from marketing firm InMobi found millennials prefer user-generated content to any other form of entertainment — with that love more pronounced the younger they are. Read more → fastcompany
Fashion & E-Commerce
Billionaire Boys Club and Moncler are cooking up a secret collaboration (because Pharrell doesn’t sleep). Read more → highsnobiety
In support of her Renaissance tour, Beyoncé is unboxing a limited jewelry collection with Tiffany (about as expensive as tickets). Read more → variety
Levi’s and Studio Ghibli are putting Princess Mononoke prints on denim for the seminal film’s 25th anniversary. Read more → hypebeast
Tech, Web3, & AI
Tesla has allegedly been goosing its vehicles’ driving range distance when the battery is fully charged for years under Elon Musk’s direction, even assigning a special team to cancel service appointments intended to fix customer complaints. Read more → insider
South Korea is really into flip phones right now, so Samsung debuted its newest editions in Seoul (as opposed to an international flagship) for the first time in years. Read more → wsj
According to McKinsey, low-wage workers (about 39% of the US labor force) are 14 times more likely to lose their jobs due to AI than those in high-wage positions — a phenomenon that OpenAI CEO Sam Altman doesn’t even deny anymore. Read more → axios
Creator Economy
Despite meeting Wall Street’s revenue expectations, Snap’s stock still dropped 15% because of a dim Q3 outlook… but CEO Evan Spiegel hopes to turn things around with some new products gaining steam. Read more → tubefilter
After its ad revenue shrunk by 50%, X is telling advertisers if they want to keep their verification status, they need to spend at least $1,000 per month on the platform. Read more → engadget
TikTok music influencer Anthony Fantano is suing Activision for using his voice in one of its videos — a case that could determine whether creators can profit from the reuse of their memes. Read more → tubefilter
Future Forecast
Yummy gummies.
Heroes in a half shell designed by TFP’s parent company, NVE!
The official Barbie playlist is Kenough.
Get trashed on Tuesday.
Tom was right. And those hearings were wild.
Speaking of aliens…
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Today’s email was written by David Vendrell.
Edited by Nick Comney. Copy edited by Kait Cunniff.
Forecast by Layne Button. Published by Darline Salazar.