What Taylor Swift taught at the CEO of RBC Dave McKay
Good morning. My favorite event this week full of events was to watch Iggy Pop, Jack White and Johnny Marr at the CBGB Festival on Saturday. Held under the Brooklyn Queens motorway in New York, the crowd presented punks old enough to be grandparents and fans who were not even born when the groups they came to see for the first time sang their successes. Goldman Sachs estimates that world musical income will double $ 200 billion in the next decade, with lively lively music to more than $ 67 billion. And this is just a subset of live entertainment space.
Although CEOs understand the power of entertainment to delight people they are trying to achieve, they might not appreciate the profitability analysis – and how it changes. DAVE MCKAY from RBC told me that it had never been so popular as when the bank sponsored the Eras tour of Taylor Swift. He also helped RBC add more than 600,000 customers to his Canadian banking business last year. Here are some CEO ideas that shape the next live entertainment wave.
Create a multi -generational experience. These are not only the mother-daughter swings. During the organization of the CBGB event, the entrepreneur Phil Sandhaus created a “young punk” category of $ 73 tickets, as well as a stage separate from younger acts that burst with energy – and the sponsors who wanted to associate with this. He also broadcast the main main stage acts live.
“We want to call on people who grew up with this music but who make it accessible to a young generation,” said Sandhaus. “Different prices and experiences we allow to continue different sponsors and brands. We do not try people with people; We are here in the long term. ”
Choose a committed partner. As the CEO of Terrapin Station Entertainment notes, Jonathan Shank, with ticket prices from 10 times what they were a generation, an experience must “be first class to pass”. This means investing in technology – ABBA pulled $ 2 million a week from a concert that featured their avatars and the right partner. Pioneer in Bob Marley’s intellectual property in Disney on a live scene, Shank knows the importance of associating on a franchise that counts for the owner. “If it is a priority project within the studio, you have everyone who descends the river in the same direction and at the same time,” said Shank. “If it is not a lot of priority, you can be on an island” and the project is suffering from it.
Create an ecosystem. The CEO of Brooklyn Sports & Entertainment, Sam Zussman, is proud of what he built around Brooklyn Nets and New York Liberty, but his goal is to transform Barclays Center into a destination for the community. (The latest example is Brooklyn’s basketball training center.) This vision is a great reason why the owner of Brooklyn Nets (and the president and co-founder of Alibaba) Joe Tsai chose Zussman. “Sam came as a foreigner and saw BSE Global as an entertainment company based on the place with IP who owns us,” Tsai recently told me. “I was looking for someone who can create an ecosystem.” While Zussman says that the objective is to “build a generational fandom”, the CEO of BSE considers sports as “a vertical entertainment” with talents, partners and installations which allow him a world of other customers.
Contact the CEO every day via Diane Brady in Diane.brady@fortune.com
Top news
Trump says the Gaza Peace Plan is near
The president said that an agreement to end the war between Israel and Hamas was in his “final stages. “Benjamin Netanyahu of Israel will meet Trump in the White House on Monday.
Government closure would delay the report of jobs
The federal government is headed For a closure Wednesday unless an agreement is concluded and, in the affirmative, an emergency plan obtained by Bloomberg Note that the monthly job report will not publish during programming on Friday. Bank of America analysts warn that the situation “would delay key economic data before the next Fed meeting”.
Emma Walmsley, CEO of GSK, takes off
She will be replaced by the commercial director Luke Miles. Walmsley had been at the drug manufacturer for eight years. GSK actions initially increased to news.
The bankruptcy of the first brands raises questions about the risk of a private credit market
Auto Part Supply Company First Brands Group filed for bankruptcy on Sunday, due to $ 10 billion in debts, According to the FT. He follows the collapse of the tricolor car lender a few weeks ago. Both cases force investors to ask questions about private credit and business debt security. “There has been a very positive investment environment for a long time, with a large sum of money and a lot of optimism,” says Howard de Oaktree Capital said to WSJ. “The worst loans face in the best of cases.”
Yes, the AI will create a job crisis, say the CEOs
Day quote Axios: “Last week, Mike Allen and I spoke in private with 20 CEOs different from a wide range of companies. Each of them said they reduced their ambitions for hiring at the dawn of AI.”
Can the exterior help keep Intel together?
The manufacturer of flea in difficulty has received Emergency cash infusions of the American government and Nvidia – and the former CEO of the company said Fortune that it will need about $ 40 billion in total to stay afloat. Is a new CEO and external aid sufficient?
The rise in prediction markets
Kalshi and Polymarket prediction market platforms crowded During the 2024 elections, attracting more than $ 3 billion in Paris to the result. Since then, the founders of the sites have turned to sports related to sport, but the way they earn money and remain in conformity with regulators are still in the air.
Moldova rejects pro-Russian interference
Moldova elected Maia Sandu from the pro-EU party as president. The vote was spoiled by the harassment of pro-Russian interests, According to the BBC. Not won 50% of the vote. The pro-Russian patriotic electoral block received less than 25% of the vote.
Markets
Future S&P 500 increased by 0.5% this morning. The index increased by 0.59% during its last session. Stoxx Europe 600 increased by 0.34% at the start of negotiations. The FTSE 100 of the United Kingdom Up 0.54% at the start of negotiations. Nikkei 225 from Japan dropped by 0.69%. CSI 300 from China increased by 1.54%. South Korea Kospi increased by 1.33%. Nifty 50 of India increased by 0.14% before the end of the session. Bitcoin increased to $ 112,000.
Around the river
Everyone wonders if, and when, the Ai bubble will appear. Here is what happened 25 years ago which finally erupted the boom of the commun points by Dave Smith
Larry Ellison predicts once “citizens will be on their best behavior” in the midst of constant recording. Now his business will pay a key role in social media by jason ma
“ There is so much pressure to be the company which has gone from zero to $ 100 million in x days ”: inside the summary world of the arr and the accounting of startup ai inflated By Allie Garfinkle
Walmart CEO wants everyone to arrive on the other side ‘ By Nino Paoli
The CEO Daily is compiled and edited by Joey Abrams and Jim Edwards.
https://fortune.com/img-assets/wp-content/uploads/2025/05/AP25150571187687.jpg?resize=1200,600
About The Author
