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Farewells and comebacks. Every twist tells a story in sports, and this weekend was no exception. Not only did Megan Rapinoe play her final World Cup game for the USWNT, but gymnast Simone Biles returned to glory after a two-year break from competition. In other words, our emotions were all over the place. #feels
In other news… Millennials live lavishly, indie productions get the green light, and TikTok takes over the kitchen.
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CULTURE
How millennials make it rain
Moneyed millennials redefine luxury
The Future. As millennials age into higher income brackets, the generation’s appetite for luxury has changed. Gone is the exclusive focus on experiences and sneakers; if wealthier millennials’ spending habits are any indication, the demand for cars, cosmetics, and gadgets may not be going away anytime soon.
Playing house
Affluent millennials are building homes similar to those of previous generations.
It turns out millennials like stuff after all, including fancy hand soaps, kitchen appliances, coffee machines, and bougie baby cots.
Calming “spa bathrooms” and immaculate laundry rooms are also priorities.
Electric cars’ record popularity also suggests high home ownership rates, since they can only recharge at expensive power stations that must be installed in a home and are often unavailable to renters.
Like father, like sort of
It’s not all the same. Millennials spend more on luxury pet goods, possibly because they’re having kids later than their parents and need to vent the parental instinct. Millennial women are also getting more plastic surgery, perhaps thanks to influencer icons like the Kardashians.
So when you become your parents, at least you won’t look like them.
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ENTERTAINMENT
SAG cuts small producers a break // Illustration by Kate Walker
Actors’ guild interim agreements get indie films made
The Future. Despite the ongoing actors strike, SAG-AFTRA has issued over 100 interim agreements that give select indie productions the green light to return to work. While the deals are a godsend for small productions and a quick fix in the short term, they could complicate things down the road.
Back in action
The interim agreements allow small non-AMPTP studios and independently funded projects to continue filming so long as their producers agree to SAG’s terms.
The agreements’ terms come from SAG-AFTRA’s last counter-offer before talks broke down, including raises for actors and stunt performers, better contributions to health and pension funds, revenue sharing demands, and AI use guidelines.
Some actors pilloried the agreements, arguing they’ll allow producers to wait out the strike for longer.
SAG-AFTRA replied that producers’ acceptance of these deals proved SAG’s terms were reasonable and could help secure a better deal with the AMPTP.
Double vision
A permanent deal between the guilds will take precedence over interim agreements, which worries the producers who accept them because they’ll have to… well, honor the terms of those agreements, which are likely more generous to actors than a large-scale agreement will be.
But hey, that’s show business. Producers, of all people, should know that.
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FOOD
TikTok tastemakers // Illustration by Kate Walker
TikTok is the new food network
The Future. Gone are the days of relying exclusively on legacy food sites for recipes; consulting short, digestible videos on TikTok — where the conversation around food is shifting — is now the norm. Seeing everyday people cook in their homes with accessible ingredients could change how recipes are conceived, shared, and even used in the US.
Cultural power lies with the normie
Folks are responding to budget consciousness, economic transparency, and diversity on TikTok, where meals are created out of dollar store purchases, according to Vox.
Justine Doiron @justine_snacks (2.3 million followers) studied hospitality at Cornell but never saw cooking as her calling until TikTok. Now, she’s putting the final touches on her first cookbook.
Tini Younger @tinekeyounger (3.7 million followers) worked at McDonald’s before riding social media fame to Gordon Ramsay’s competition show Next Level Chef.
Keith Lee @keith_lee125 (13.5 million followers), a Las Vegas resident, might very well be the country’s most famous restaurant critic right now — and he doesn’t work for any news publication.
By comparison, NYT Cooking has 312,300 TikTok followers, and Bon Appétit Magazine has just 303,500.
Connecting through food is powerful
While mainstream outlets have only slightly increased their money consciousness in recipe development, TikTok has become a space where people go for transparent Trader Joe’s hauls and dollar store meals. These grocery hauls haven’t just promoted an openness to vulnerability, but they’ve also been learning tools, since many people buy ingredients for recipes without knowing how to work from staples.
When folks cook now, they’re probably hearing the voices of their favorite TikTok chefs in their heads.
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Highlights
The best curated daily stories from around the web
Media, Music, & Entertainment
Warner Bros. Discovery reports saving more than $100 million due to the strikes in Q2, which ran from April 1st to June 30th. Read More → variety
Following its $500 million sale of eOne ($400 million of which will be used to pay down debt), Hasbro is embracing an “asset-lite model for future live-action entertainment.” Read More → deadline
AMC Networks is reassuring investors (despite lower ad revenue and greater churn) their pipeline of completed shows will allow them to serve their viewers for the remainder of 2023 and well into 2024. Read More → forbes
Fashion & E-Commerce
Alexis Ohanian predicts the next evolution of fashion will be digital, as “most of us are wearing digital clothes; we just don’t realize it.” Read More → twitter
Louis Vuitton is opening a resort boutique store and its first Italian café in Sicily. Buona fortuna. Read More → hypebeast
Mattel just debuted its newest Barbie doll: a recreation of Kate McKinnon’s “Weird Barbie” character in the hit movie. Read More → people
Tech, Web3, & AI
“The smartphone industry is tough in the US right now,” Apple CEO Tim Cook points out, as the company reports $81.8 billion in Q2 earnings — down from $83 billion in 2022. Read More → theverge
Over the past few years, Jeep has seen sales drop, days’ supply on lots go up, and brand loyalty decline. The iconic American brand is looking to turn that around. Read More → insider
TikTok users in Europe will soon be able to opt out of receiving personalized content as the platform makes changes to yield to the EU’s Digital Services Act. Read More → theverge
Creator Economy
Beacons has launched a database to help content creators secure representation. Read More → tubefilter
The TikTok movement #ratgirlsummer wants you to leave your house, consume delicious food, be ruled by whimsy rather than shame, and, most importantly, not overthink. Read More → wapo
Despite the strike, brands can still partner with SAG talent for commercial work so long as it avoids any connection to studio projects. Read More → adweek
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Today’s email was written by Luke Perrotta and Kait Cunniff.
Edited by Nick Comney.
Published by Darline Salazar.