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Applied Digital (NASDAQ:APLD) Hits New 52-Week High – Time to Buy?University System of Georgia to ban DEI, commit to neutrality, teach Constitution
In the last four months, two of the three major labels have seen their stock price punished for missing expectations of subscription growth — effectively sending the message that in 2024, delivering substantial revenue gains isn’t enough. In its fiscal fourth-quarter earnings on Thursday (Nov. 21), Warner Music Group (WMG) revealed streaming growth of 8.2% , which was below some analysts’ estimates — helping explain why the company’s share price fell 7.4% on Thursday and erased approximately $1.29 billion of market value. The same thing happened to Universal Music Group in July — albeit to a far greater extent — when its lower-than-expected second-quarter subscription growth led to a 24% drop in its share price despite total revenue climbing 8.7%. To say analysts and investors place a great deal of attention on streaming growth is an understatement. During WMG’s earnings call on Thursday, six of the 10 questions from analysts concerned subscription revenue, including topics such as drivers of expected growth, the setting of wholesale rates and how streaming royalties are calculated and distributed. That’s because analysts — and the investors they speak to — know that platforms such as Spotify and YouTube are critical to record labels and publishers’ fortunes. Judging from their introductory remarks, WMG and UMG would rather talk about their companies’ global expansions. On Thursday, WMG CEO Robert Kyncl highlighted the company’s focus on India, a country of 1.4 billion that he called “more like a continent than a country.” Currently dominated by ad-supported streaming, India has the fifth-largest gross domestic product but ranks just 14th amongst recorded music markets. But Kyncl said he believes the country “will become an increasingly influential global force in the music business,” adding that WMG is “well positioned to keep taking market share” through acquisitions and partnerships. Meanwhile, during UMG’s latest earnings call on Oct. 31, CEO Lucian Grainge talked about acquisitions, partnerships and expansions in emerging markets such as China, Thailand and Nigeria. Constantly pulled back to the topic of music subscriptions, Kyncl and WMG CFO Bryan Castellani attempted to quell any concerns that streaming growth is petering out, explaining how WMG intends to obtain high, single-digit subscription revenue growth even as that growth has been slowing . Relatively few Americans have a music streaming subscription, at least when compared to streaming video-on-demand (SVOD) options such as Netflix; during the call, Kyncl noted that subscription penetration in the U.S. is 30% while SVOD services are at 50%. “There’s a lot more to grow in United States for music,” he said. Lately, though, the success of music streaming platforms has looked one-sided. The licensees, not the licensors, appear to be keeping most of the spoils of price increases and subscriber acquisitions. As one WMG analyst put it, the major labels’ content is a must-have for digital service providers (DSPs) such as Spotify, but “a lot of value has instead accrued to the DSPs” rather than content owners. At least by one measure, Spotify has reaped the benefits of price increases far more than major labels. Since Spotify announced its first U.S. price increase on July 23, 2023, its share price has risen 177%, compared to 3% for UMG and 4% for WMG. To level the playing field and reap more of the benefits of subscription music’s popularity, WMG intends to tweak pricing — which it believes the labels will benefit from — to help drive continued subscription growth. For starters, the company expects improvements to come from the launch of a high-priced subscription tier for superfans that Spotify CEO Daniel Ek said in July could cost $17 or $18 per month. Kyncl and Castellani also pointed to changes in wholesale prices that would establish per-subscriber minimums to reduce the discounts given to family plans and other multi-user accounts. “With both subscriber growth and opportunities for wholesale price increases, the formula for streaming growth is strong and there’s plenty of room for acceleration,” said Kyncl. The U.S. and other mature streaming markets will deliver subscription growth more immediately than emerging markets still dominated by ad-supported streaming. But over the long term, said WMG, high-growth, emerging markets like India have substantial potential. As Kyncl explained, WMG is betting on countries like India that have rising gross domestic product (GDP) because advertising spending will increase as GDP increases —and rising GDP will eventually translate to more subscribers. Again, Kyncl talked about closing the gap between music and TV; in India, he put the number of music subscribers at 15 million and the number of households with TVs at 100 million. Streaming has shaped today’s music business. WMG and UMG would not have gone public had it not transformed a once-moribund industry. Investors wouldn’t have poured money into Hipgnosis Songs Fund and other investment funds were it not generating massive royalties for aging catalogs. And prominent institutional investors such as Blackstone and Pimco would not be so enthusiastic about music assets if streaming couldn’t open new markets around the world. That strong enthusiasm has created high expectations, though, and labels’ mandate to deliver high, single-digit subscription growth is going to transform streaming in the years to come. Prices will be higher. Streaming services will launch high-priced superfan tiers. And if the labels have their way, ad-supported on-demand streaming would no longer be free . However things shake out, the majors seem confident they can deliver.
( MENAFN - Kashmir Observer) Modern housing Architecture and Chilly Winters in Kashmir By Abid Hussain Rather A house or shelter is one of the basic needs of human beings; providing safety, security, and a space for personal and communal life. It serves as a refuge from environmental elements like heat, cold, rain, and natural disasters, ensuring physical protection and comfort. Beyond its practical purpose of protecting against natural elements, it serves as a foundation for emotional and social well being. The construction and design of shelters are deeply tied to cultural identity, reflecting the traditions, beliefs, and environmental conditions of a community. For instance, indigenous structures such as igloos, mud huts, or stilt houses exhibit resourcefulness and harmony with the local climate and available materials. Additionally, cultural values of a society influence spatial arrangements, decorations, and functionality while a shelter is being constructed in a particular region. Thus, a shelter is not merely a physical structure but a manifestation of cultural heritage and human ingenuity. When we look at the old traditional house construction style in Kashmir Valley, it reflects a profound harmony between nature, culture and the environment. Our old traditional houses, which were often crafted using locally sourced materials like timber, mud, and stones, blend seamlessly with our valley's natural surroundings. The sloping roofs, designed to withstand heavy snow, and intricately carved wooden panels show the ingenuity and artistic heritage of Kashmiri culture. Such architectural choices ensure thermal insulation, reducing dependence on artificial heating, and highlight an eco-friendly approach. The design and architecture of our old houses was rooted in our cultural values and environmental sustainability; depicting a symbiotic relationship between the people of Kashmir and their unique ecosystem. Their architecture was not only aesthetically pleasing but also meticulously designed to adapt to the region's climatic extremes. In the biting winters, these homes provided warmth through their efficient use of deodar wood and unbaked clay bricks; which used to work as excellent insulators from the scorching heat of summer and biting cold of winter. The sloping roofs allowed heavy snow to slide off effortlessly, preventing structural damage. The use of natural materials such as mud, stone, and timber ensured that the homes were eco-friendly and blended harmoniously with their surroundings. In our old houses, the inner rooms were often adorned with walnut woodwork. Since this wood is soft, it allows for exquisite carving. This craftsmanship reflected the aesthetic taste of the Kashmiris. All things considered, it can be said that our old traditional homes were more than mere shelters; they were cultural artefacts, embodying centuries of wisdom, craftsmanship, and environmental adaptation. From the last one or two decades, the construction landscape of Kashmir has undergone a dramatic transformation. The advent of concrete and steel structures with flat roofs, large glass windows, and minimalist designs reflects a deep taste for modernity. This shift is driven by several factors, including increased access to technology, the aspiration to emulate urban lifestyles, and the perception that traditional designs are outdated or inefficient. Unfortunately, this trend has come at a significant cost. Modern houses in Kashmir often ignore the region's climatic requirements. Flat roofs, for example, are unsuitable for the heavy snowfall that is a hallmark of winters in Kashmir, leading to water leakage and structural vulnerabilities. The excessive use of glass, iron and steel contributes to poor thermal insulation, making these homes harder to heat during the winter months and less energy efficient overall. The severe cold climatic conditions of Kashmir valley demand architectural solutions that respect its unique conditions. Traditional houses, with their thick mud walls and small windows, were naturally insulated and reduced the reliance on external heating systems. Modern houses, in contrast, require extensive energy consumption (excessive use of electric room heaters, LPG heaters, Hamaam system etc.) to maintain warmth during winters. Besides the environmental implications, the loss of traditional architecture represents a profound erosion of cultural identity. Houses are often seen as extensions of one's heritage, and in our Kashmir valley, the architecture was a visual reminder of the valley's unique history and traditions. The complex designs of Khatamband ceilings and Pinjrakari windows in our old houses were displaying the skilled craftsmanship passed down through generations. But these elements are now being replaced in modern houses by sterile designs that could belong to any generic cityscape. This architectural shift alienates our younger generations from their cultural roots. With the disappearance of traditional houses, the stories, values, and skills associated with them are also vanishing, creating a cultural void that cannot easily be filled. The traditional architecture of Kashmir not only connected us to the past but also served as a significant defence against earthquakes. It has been observed that during earthquakes, modern concrete houses collapse, while centuries old houses remain intact. The reason is that after the tremors, the traditional structures return to their original position, whereas concrete structures lack the flexibility to do so. The need for modernization is undeniable, but it must not come at the expense of cultural identity and environmental harmony. To preserve Kashmir's architectural heritage, it is essential to rethink our approach to construction and ensure that future developments are sustainable and reflective of the region's unique culture and environment. We should incorporate elements such as sloping roofs, natural insulation, and intricate woodwork into modern designs while constructing our houses. Further, we must use locally sourced, sustainable materials to reduce the ecological imbalance. It is essential to merge traditional aesthetics with contemporary functionality while designing our houses, such as energy efficient windows with Pinjrakari designs. It is pertinent to mention here that in our valley most individuals in the field of engineering are primarily learning concrete based designs. This approach needs a reconsideration and revision. The government has also not taken significant steps to promote the education and innovation of traditional architecture. The misleading notion of modernity has overshadowed traditional knowledge and sciences. The government and private stakeholders must play a proactive role in promoting architectural policies that respect local traditions. The charisma of modernity is undeniable, but Kashmir must not lose sight of what makes it unique. We must keep in mind that the construction of houses that ignore cultural identity and climatic realities may offer short term convenience, but the long term consequences are far reaching. Views expressed in the article are the author's own and do not necessarily represent the editorial stance of Kashmir Observer MENAFN26122024000215011059ID1109033289 Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
EAGAN, Minn. (AP) — The Minnesota Vikings waived cornerback Akayleb Evans on Saturday in another setback for their beleaguered 2022 draft class. Evans started 15 games last season, but he had been relegated to a special teams role this year after the Vikings added veteran cornerbacks Stephon Gilmore and Shaquill Griffin. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.
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Ghana voted in a presidential and parliamentary election Saturday amid hopes for an economic revival after the worst financial crisis in a generation that led to a major debt default in the West African nation. President Nana Akufo-Addo is stepping down next month after serving the two terms allowed by the constitution in Ghana, the world's second-largest cocoa producer and a significant gold miner. Twelve candidates are vying to succeed him, but the race is seen as primarily between Vice President Mahamudu Bawumia, chosen successor of Akufo-Addo's New Patriotic Party (NPP), and former President John Dramani Mahama of the National Democratic Congress (NDC). Opinion polls tipped Mahama, who served as president from 2012 to 2016, for a potential comeback. Mahama, 66, has framed Bawumia as representing a continuation of policies that led to Ghana's economic woes, and has promised to renegotiate terms of a $3 billion IMF bailout secured last year to restructure the country's debts. The crisis peaked in 2022 when Ghana turned to the International Monetary Fund. "This is the only election that we can all see the direction of the outcome before we start voting," Mahama said after casting his vote in Bole, his hometown in northern Ghana. "We are hopeful and confident that we'll win," he added. Bawumia, a 61-year-old former central banker, also expressed confidence that he would win after he voted in his Walewale constituency in northern Ghana. "By the grace of God, I'm very hopeful of winning this election. I think that we have done a lot of work. We have put our message to the people, I think the message has been well received," he said. On the campaign trail, Bawumia has highlighted Ghana's gradual recovery from the crisis, with economic growth surging by 6.9% year-on-year in the second quarter of 2024, the fastest rate in five years. He told supporters he will foster policies that will strengthen Ghana's recovery. Both candidates said voting was generally calm and peaceful. Jubilant NDC supporters took to the streets of Accra's historic Jamestown, chanting, banging pans and blaring horns after results from their polling stations showed the party in a comfortable lead. The electoral commission said over 99% of polling stations opened on time with voting materials delivered to them. It said later Saturday evening that turnout was massive, but it was too early to give a specific figure. Benjamin Bano-Bio, director of electoral services, said voting was calm though there were some pockets of violence. "Our verification machines were effective, and the entire process was largely peaceful, except for a few places where violence occurred, leading to the death of one person," Bano-Bio told a news conference. After polls closed at 1700 GMT, election teams immediately began tallying ballots under the watch of agents from political parties before sending them to collation centers. Some provisional legislative results are expected late Saturday night and Sunday, while the presidential outcome is expected by Tuesday, although trends often allow an early prediction. Approximately 18.7 million of Ghana's 34 million population are registered to vote.Hyde10: Tua’s overtime drive, Sanders’ big kicks, Hill’s bigger role — 10 thoughts on Dolphins’ win vs. Jets
