🏀 Sports Broadcasting Drama Turns Up As...?

Good morning. US stock futures ticked higher in Tuesday morning trading as investors awaited earnings reports from major companies.

🏀 Sports broadcasting wars are heating up…

📝 Our report: Turner Sports plans to keep its long-standing NBA partnership, with Warner Bros. Discovery telling the league it will match Amazon Prime Video's $1.8 billion per year offer. Turner has had an NBA package since 1984 and games have been on TNT since the network launched in 1988.

 🔑 Key points:

• “We have reviewed the offers and matched one of them. This will allow fans to keep enjoying our unparalleled coverage, including the best live game productions in the industry and our iconic studio shows and talent, while building on our proven 40-year commitment for many more years,” Warner Bros. Discovery said in a statement.

• The NBA’s Board of Governors approved the league’s 11-year media rights deals with Disney, NBC and Amazon Prime Video at its recently concluded meeting in Las Vegas.

• The new deals — collectively worth $76 billion — will begin with the 2025-26 season, and include a game being aired or streamed nationally every night during the second half of the season.

💡 So what: Warner Bros. Discovery matching Amazon Prime Video's $1.8 billion offer to cover NBA games has significant implications. Financially, it boosts the NBA's revenue while putting pressure on the broadcasters to justify the high costs through advertising and subscriptions. The competition intensifies the sports broadcasting market and highlights the shift towards streaming platforms, potentially leading to subscription overload for consumers. Strategically, securing NBA rights strengthens Warner Bros. Discovery's market position and long-term partnership with the NBA, while also setting high expectations for future broadcasting deals and innovations in the industry.

Tuesday - Existing Home Sales

Wednesday - No Major Economic News

Thursday - U.S GDP

Friday - Consumer Sentiment

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🧸 Toying with an acquisition?

WHAT: L Catterton, the private equity firm backed by LVMH, has made an acquisition offer to Mattel, the company behind Barbie and Hot Wheels, according to insiders. The sources cautioned that there is no certainty L Catterton's approach will push Mattel into exploring a sale and asked not to be identified because the matter is confidential.

WHY: Mattel has been turning to media partnerships to offset tepid demand for its toys. Despite the commercial success and acclaim of the Barbie movie released last year, its shares had lost 23% of their value in the last 12 months, as investors fretted about Mattel's profitability and handling of unprofitable toy franchises.

🤝🏽 Social media platform lands sports league partnership deal

WHAT: Reddit is teaming up with major sports leagues to bring more video content to the site, hoping to score big on advertising revenue. The San Francisco-based social media company announced deals with the NFL, NBA, MLB, PGA Tour and NASCAR. The partnerships will bring more sports content to Reddit’s site, including video highlights from games and tournaments, behind-the-scenes clips, question-and-answer sessions with players, and special content from major events such as the Super Bowl and NBA All-Star game.

WHY: The move will give Reddit more high-quality videos, which in turn could lure more video advertisers. Reddit first tested those ads with the NFL during the 2023-2024 season, and brands like FanDuel, Samsung and Ford placed their messages next to premium video content from the league.

✈️ Micky D’s keeps $5 meals going

WHAT: McDonald's $5 meal deal went viral, and now franchisees might be feeling the heat from extending it. Initially set for July, the promotion will now run all summer. According to a memo obtained by Yahoo Finance, 93% of McDonald's restaurants voted to keep the $5 meal deal through August.

WHY: The company's US chief marketing officer, Tariq Hassan, said the deal successfully drove foot traffic back from competitors and boosted the brand's affordable image after several price hikes. When the offering rolled out formally on June 25, foot traffic was down 0.8% that week year over year, according to Placer.ai. Traffic was subsequently up 2.8% the week of July 1 and up 2.4% the week of July 8, compared to last year.

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