Chance The Publisher

Chance The Rapper announced his purchase of Chicagoist in a new single, in what is certainly the coolest media acquisition announcement of all time.

MUSIC & INDUSTRY


This summer has seen several major US music festivals cancelled or retired amid an oversaturated market. What's the best way to compete in such a market? Have it curated and run by a big name artist. Some of the fastest growing new festivals are artist run. Post Malone, Tyler The Creator, and Chance The Rapper demonstrate what the success looks like. Having a big name at the helm has other benefits. When Philadelphia's mayor abruptly revoked Made In America's permit for the Benjamin Franklin Parkway site, festival founder Jay-Z penned an op-ed in the Philadelphia Inquirer ripping the decision. The backlash to the mayor's office came with a vengeance, and they're now in damage control.

BRANDS & BANDS


Owned festivals are appealing to brands, too. Marriott, for example, see owned festivals as a major opportunity to grow the already extensive role music plays for their brands. Starting this September, notable W Hotel locations will act as venues for Wake Up Call, a traveling three-day event with the sort of lineup and trappings of a typical major music festival. The value proposition is simple for Marriott. Tickets for the event are purchased with room packages, so it's not just an exercise in brand building, they're also making money. And they won't have to compete with a saturated field of other sponsors - they're simply not having any other brands there.

RESEARCH & INSIGHTS


Owning Netflix stock is a hell of a ride. The price has doubled in the past six months, then dropped 10% this week on a new earnings and subscriber growth report. So then, what's behind the volatility? There's a strong case that Netflix's future is essentially binary: Netflix will either become THE dominant media company, or it will fold up shop. In other words, the stock is either massively under-priced, or worthless, and the current value is a pricing of the probability between those two outcomes. Read more on this binary dynamic here, and why subscriber growth is oh so important here.

EVERYTHING ELSE


LISTEN


Chance The Rapper
I Might Need Security
Recode Decode
Mark Zuckerberg

LOOK


Mumu Fresh ft Black Thought
NPR Tiny Desk Concert
Katrina McHugh

WEEKEND PLAYLIST

FACTORY FLOOR


Music + tech biz legend, Mike "The Goon" McGinley joined Missy Worth and Rob to talk some shop.

FRIDAY GIF


See ya next week...