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| Happy Friday, Insiders!! Today's Business newsletter covers: - 🔍 Google's new policy aims to stop AI-manipulated political ads
- 👥 Deep Dive: How Messi boosted Apple TV+ and MLS subscriptions
- 📢 Weekly Big Deal Round-Up
If you enjoy reading this newsletter, please share it with your friends and colleagues. Make sure to continue reading for Quick Hits and the Knowledge Hub. Thank you!! Shriram
p/Shriram | |
| 1 | | By forcing verified advertisers to prominently disclose any misleading depictions, such as inaccurate attributions and created scenes, Google intends to combat digitally edited election commercials. Mid-November will see the implementation of this policy change, just in time for a high-level tech executive gathering in Washington that includes Google CEO Sundar Pichai and discusses artificial intelligence (AI) and potential legislation. More: - An advertisement that uses AI to reproduce Donald Trump's speech has sparked concerns about the potential of AI to alter content in the 2024 U.S. elections.
- Convincing false movies and graphics have become simpler due to generative AI models like ChatGPT.
- Google-owned cybersecurity company Mandiant noted an upsurge in the use of AI in deceptive online advertising campaigns that are frequently connected to nations like China and Russia.
- This new regulation aligns with attempts to limit incorrect information in political advertisements on its platforms, which is a constant source of pressure on Google to battle misinformation.
Q: What do you see as the biggest challenges in combating misinformation in political advertisements, and how can technology companies better address these challenges? Join the conversation here. |     | |
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What the numbers say: Following Lionel Messi's MLS debut, 110,000 new MLS Season Pass sign-ups occurred in the U.S., a significant increase from the day before's total of 6,143. Additionally, because of its exclusive MLS rights obtained through a $2.5B contract signed last year, Apple TV+ experienced a jump in July, its most significant month for attracting new U.S. consumers this year. Relevance: Apple's exclusive deal for MLS streaming rights illustrates the power of live sports to boost streaming platforms. Securing sports broadcast rights is essential for services that increase subscriptions and engagement. Apple increases the value of its existing users' subscriptions while attracting new ones by integrating the MLS Season Pass with Apple TV+. More data: On Sept. 1, Apple revealed the MLS Season Pass price: $12.99 per month or $25 for Apple TV+ customers, $14.99 per month or $29 for non-subscribers. Amazon and Google's YouTube have secured pricey sports rights agreements to increase audience loyalty and decrease subscriber turnover. | | | |
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| 3 | | Big Deal Round-Up M&A activity shows strategic positioning by energy and entertainment companies, with sizable deals like Dominion's $9.4B gas asset sale and Alchemy's $468.8M music catalog acquisition. Private equity moves highlight tech and talent services, as seen in Saudi Telecom's $2.25B Telefonica stake and Artémis' talent agency purchase. Significant partnerships are forming around AI and EVs, with Nvidia, GM, Honda, and others collaborating. M&A: - Dominion Energy agreed to sell its gas transmission and storage assets to Enbridge for $9.4B.
- Nestle has sold Stallergenes Greer, its Palforzia peanut allergy medicine brand, as part of a strategic review.
- For almost $560M, the Canadian pension fund Ontario Teachers purchased the U.K. wealth manager Seven Investment Management, placing a strategic wager on the rapidly consolidating wealth management industry.
- Zapata AI, a firm in artificial intelligence that was spun off from Harvard in 2017, is being acquired by Michael Andretti's special purpose acquisition company for about $200M.
- For about $468.8M, music investment company Alchemy Copyrights will purchase Round Hill Music Royalty Fund, bringing its catalog to include songs like the Backstreet Boys' "I Want It That Way."
- By purchasing renewable developer ConnectGen for $768M, the Spanish energy corporation Repsol joined the U.S. onshore wind market and established itself in a significant growth sector.
Private equity: Partnership: | | | |
| 4 | | In the fiscal year that ended on May 31, Deloitte's global sales increased by 15% to $64.9B, securing its leadership among the Big Four professional services companies. The company's consulting division experienced the highest increase, with revenue rising by 19.1% to $29.6B and the number of employees worldwide rising by 11% to 457,000. More: - ESG-related work boosted revenue growth in the audit and assurance sector to 13.8%, hitting $12.3B.
- The risk advisory market, which includes topics like climate change and cybersecurity, increased by 17.5% to $7.8B.
- The slowdown in corporate dealmaking resulted in slower growth for Deloitte's financial advice practice, which increased by 4.7% to $5.1B.
- The Americas saw the highest revenue growth at 17.5%, followed by Europe, the Middle East, and Africa at 12.6%, and Asia-Pacific lagged at 12.6%.
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| 5 | | Honda will begin using Tesla's fast-charging port for its North American electric vehicle models in 2025, joining other manufacturers like Ford, General Motors, and Rivian in similar deals with Tesla for charging technology. There are over 54,000 public charging stations in the country, which generally offer slower charging than Tesla's Superchargers, compared to around 17,000 Tesla Supercharger stations recognized for quick charging. More: - Compared to the Combined Charging System (CCS) used by other manufacturers, Tesla's North American Charging Standard (NACS) connector and wire are considered lighter and more manageable.
- Numerous automakers have adopted Tesla's charging technology, indicating that it may eventually become the norm and provide Tesla with a competitive edge.
- The number of EV manufacturers joining Tesla's network may increase competition for charging stations for Tesla owners.
- The White House announced the expansion of Tesla's Supercharger network for EVs made by other manufacturers, but it has been moving slowly.
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| 6 | | For its premium users, Spotify will test a free audiobook package that will provide them with free access to up to 20 hours of audiobooks each month. With this effort, Spotify is attempting to measure user interest in audiobooks, outcompete rival services like Audible, and diversify its revenue streams. More: - The audiobook market is a developing and well-liked format, much like the podcast business.
- Payments based on user listening time are one of the many compensation models that Spotify has proposed for publishers.
- The test program is anticipated to progressively expand to English-speaking nations like the U.S., Canada, Australia, and the U.K.
- The goal of Spotify, which has entered the audiobook market, is to provide audiobooks within the app.
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- Former Amazon senior executive Dave Clark has resigned from his position as CEO of Flexport and is reportedly exploring the possibility of running for governor in Texas.
- An Australian billionaire's company, Pratt Industries, will build a $120M box plant in Warner Robins, Georgia, and start producing boxes there by the end of 2024.
- KPMG's U.S. partners will receive half of their regular pay during a six-month gardening leave if they leave the firm to join a competitor as part of efforts to discourage staff poaching.
- According to Gov. Andy Beshear, Kentucky intends to spend $386M to bridge the digital gap by giving high-speed internet access to more than 42,600 homes and businesses.
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Term of the Day Data mining: Data mining refers to the process of sorting through and analyzing large quantities of raw data. Question of the Week Do you share details about your salary with your coworkers? Join the conversation |
INSIDE BUSINESS LEADERBOARD (7 DAYS) |
 | Freelance Writer | | Shriram is pursuing Master’s in Business with Marketing at Warwick Business School. He worked as a Senior Consultant in Tech and Political Consultancies before his Masters. He is passionate about Tech, Marketing, Strategy, Anthropology and Politics. He is also the Postgraduate Ambassador for Warwick Business School. | | This newsletter was edited by Aaron Crutchfield | |
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