Coach K Joins the NBA as Special Adviser to Basketball Operations
Retired Duke men’s basketball coach Mike Krzyzewski has a new role. The 76-year-old, who called it quits with the NCAA D1 squad after 42 years in 2022, has graduated to the NBA. According to the release, Coach K is the league’s Special Adviser to Basketball Operations, meaning he will “provide counsel to the league office, NBA team executives, and other leaders across the league on a host of issues related to the game.” The Hall of Famer is slated to begin his tenure next week in Chicago when NBA general managers assemble.
Disney Announces Streaming Service Shifts, Park Profits Amid Positive Investor Call
The House of Mouse is experiencing a breakthrough. After a challenging year, which brought the return of former CEO Bob Iger from a brief stint in retirement, Disney revealed insights that highlighted an overall strong quarter. For the most part, the results were in line with Wall Street projections. Perhaps most positive was the return of Disney fans to the parks, which saw a surge of 17% in revenue year-over-year. Streaming subscriptions were down, but overall better than projections. Iger addressed the future of the entertainment component of the business, suggesting that the company will merge Hulu and Disney+ into one app by the end of the year and cut back on production to focus on quality.
Beyoncé Kicks off the Renaissance World Tour
All eyes were on Sweden on Wednesday as Queen Bey took the stage for the first stop on her Renaissance World Tour. Fans swarmed from across the globe to catch Beyoncé’s first global tour since 2016. Early projections from Forbes estimate that she could bring in over $2 billion, setting a new record, and outpacing Taylor Swift’s Eras Tour by more than $500 million. Images from the first performance show that Bey is leaning into the future, featuring a robot-assisted dance sequence while performing her Renaissance hit “Cozy.”
Duetti Closes $32 Million Round With Support from Roc Nation
Startup Duetti officially announced a $32 million fund raise that included support from Jay-Z’s entertainment agency, Roc Nation. The company primarily markets toward independent artists and asserts its “innovative model opens new investment opportunities for a previously untapped asset class.” Other backers joining Roc Nation include Herzliya, Viola Ventures (as well as Viola Credit), Untitled (likely London’s Untitled Ventures VC), and San Francisco-based Presight Capital.
The NFL’s First Black Friday Game Will Feature a Classic Rivalry
In the first-ever NFL Black Friday game on Nov. 24, Amazon Prime Video is scheduled to air an AFC East showdown when the Aaron Rodgers-led New York Jets host their longtime divisional rivals, the Miami Dolphins. Fans can expect a 3 p.m. ET kickoff time from MetLife Stadium in New Jersey. Per the league, fans that don’t have a Prime subscription will still be able to watch the matchup, as Amazon plans to make it accessible to everyone. The complete 2023 Thursday Night Football schedule will be released today.
Under Armour Bets on Women as It Begins New Leadership Chapter
In a conference call with analysts on Tuesday, Under Armour CEO Stephanie Linnartz vowed the sportswear brand will “go after women harder than this company has ever seen.” As Bloomberg notes, the women’s business makes up less than 25% of Under Armour’s revenue. It sells shirts, leggings, jackets, shorts and bras, plus gear for athletics. In the call, Linnartz also confessed that it hasn’t found its must-have product for UA’s female audience yet. “We have a solid base from which to grow,” the former Marriott exec added.
Warner Music Group’s Low-performing Quarter Spurs Stock Dip
Warner Music Group experienced an unprecedented drop in stock on Tuesday, dropping 11% compared to a 0.2% dip in the S&P 500. This follows a trend of loss for the record company, falling 27% so far compared to an 8% increase in the wider market. In discussing strategies to reverse course, CEO Robert Kyncl talked about expanding the products to better monetize the artist and songwriter supporter relationship and growing the capabilities of brand managers for musicians and songwriters.
Tracee Ellis Ross, Kristen Stewart Sit Front Row as Chanel Takes Over Paramount Studios
Chanel brought its Cruise 2023/2024 show to Los Angeles Tuesday night, taking over Paramount Studios to debut its newest lineup of luxury goods. Among those in the audience who got a first look included Tracee Ellis Ross, Kristen Stewart, Rose Byrne, Lil Nas X, Sofia Richie Grainge, Issa Rae, Marion Cotillard, and Margot Robbie, the last two being ambassadors of the French brand. Fitting for the California assembly, The Hollywood Reporter notes the capsule was “part showgirl; part Barbie core pink; part glam fitness fanatic.”