Hot Shots

Good morning and happy Friday to everyone who doesn’t work in IT. Today we’re exploring: - Ads & Emmys: Netflix has had a good week all round. - Quit wining: Pernod Ricard is offloading most of its wine brands. - Tuning in: Videos are starting to dominate social media use. Have feedback for us? Just hit reply - we'd love to hear from you! TOGETHER WITH [Sponsor Logo](   You are still watching Netflix further cemented its place atop the streaming throne yesterday, adding more than 8 million net subscribers in Q2 — nearly twice as many as Wall Street had estimated. In markets where it’s available, a healthy chunk of those additions (45%) came from its $6.99 ad-supported tier: a sign that people are increasingly opting to [save pennies rather than avoid ads](. As the creators of many of the original shows and movies on Netflix know, commercial and critical success can be hard to come by, but the streamer itself seems to be doing pretty well on both fronts. Indeed, Thursday’s report, where the company also exceeded top and bottom line [expectations](, capped off a great couple days for Netflix, after hit shows like The Crown, Baby Reindeer, and Ripley saw it pick up 107 Emmy nods on Wednesday, the most for any single streamer or network this year. Challengers Not far behind, however — and largely on the back of critical darlings Shōgun (25 noms in the drama category) and The Bear Season 2 (23 noms, still semi-inexplicably, in the comedy category) — was FX, which managed to edge out perennial Emmy-bagger HBO/Max, with 93 nods for the former and 91 for the latter. That’s a record for the Disney-owned network, trouncing its previous tally of 56 back in 2016… though it wasn’t affiliated with Hulu, the streaming platform where The Bear lives exclusively in the US, back then. Of course, topping the nominations chart doesn’t always translate to major success at the ceremony itself: Netflix still holds the record for most nominations in a single year with a whopping 160 nods at the 2020 [Emmys](. It only ended up taking home 21 awards [that year](. [Read this on the web instead](   Pernod Ricard, one of the biggest global wine and spirits sellers, is decanting the majority of its immense [wine portfolio]( to Australian Wine Holdco, the French company announced Wednesday, doubling down on its growing spirits business. The news follows years of stalling vino demand at Pernod — with wine accounting for just 4% of the brand’s ~$13B worth of sales in fiscal year 2023 — as China’s once-booming wine market [dwindles]( and Western tastes shift towards harder stuff. Indeed, an April report from the [NIAAA]( found that American alcohol consumers are increasingly opting for liquor over lower ABV offerings. In 2022, the average person in the US aged 14+ years got through the equivalent of 1.06 gallons worth of pure alcohol in spirits beverages. That’s up 25% from 2017-2022, while beer and wine consumption fell by 4% and 2% over the same period, respectively. Spinning bottles Pernod’s deal will see the transfer of popular international wine brands like Campo Viejo and Jacob’s Creek, as well as several associated vineyards, at a time when wine consumption is drying up. Australia, the world’s fifth largest wine exporter, is feeling the effects: in March, millions of the country’s vines were deliberately destroyed in a bid to temper [overproduction](, which has seen the price of grapes more than half since 2020 in regions around the country. Fortunately for Pernod, though, the drinks giant still has a winning cocktail of liquor brands under its belt, including Absolut vodka, Jameson whiskey, and Havana Club rum — with those 3 labels alone selling nearly 28 million 9-liter cases between them [last year](. [Read this on the web instead](   [Sponsored by Miso Robotics]( Top 3 Reasons to Invest in Miso Robotics Finding exciting investments before they’re publicly traded isn’t easy. But [Miso Robotics]( made it easy. 36,000+ investors are backing Miso’s AI-powered robots’ jolt to the $1T fast food industry. Their [Flippy robot]( could fill America’s labor gap by automating fry stations to perfection. [Flippy]( already impresses: - 🍟 Fried 2.5M+ baskets for brands like White Castle and Jack in the Box. - 🤖 Selected by NVIDIA to collaborate on integrating state-of-the-art AI vision technology into Flippy. - 💥 Could boost industry profits by up to $24B per year Flippy will be targeting 170 fast food brands and 100,000+ U.S. locations… which makes the timing of this opportunity so intriguing. [Limited time: Become a Miso shareholder* and earn up to 10% bonus stock**]( [Limited time: Become a Miso shareholder* and earn up to 10% bonus stock**](   Streaming vs. Social media For some time, [small screens and big screens have been competing for our attention](, with many people admitting to “second screening” — when they find themselves flicking through their phone while also absent-mindedly watching something on TV. Now, a [new report from Variety]( suggests that a rise in video consumption on social media is eating into the time we spend streaming on-demand… and TikTok is leading the charge. Indeed, the average daily video watch time has increased from 2.12 hours in 2022 to 2.48 hours this year on TikTok, according to data from Media IDentity Graph supplied to Variety. That’s more than any other major social media platform’s watch time, many of which have pivoted to video to compete with TikTok (as with Instagram’s Reels feature). With audiences spending more time on social video — video now accounts for almost 60% of average time spent on social networks, according to eMarketer — TikTok is now testing a 60-min length limit for uploads, upping the 15-min max established last year, and considerably greater than the 15-second ceiling that it had at [launch](. Now, short- and long-form social video is cutting into time spent watching streaming, particularly for younger consumers: per Variety’s report, “Watching TV and movies together accounted for just 32% of media time among [13-24 year-olds](, versus 59% for consumers over 35.” In fact, 58% of respondents aged 13-24 reported that they were spending less time watching “regular” TV because they were watching “non-premium” online videos (i.e., social video). Just as cable TV was quickly swallowed by on-demand streaming at the turn of the century, it was inevitable that an even bigger fish — and, in this case, a smaller screen — would eventually come along. [Read this on the web instead](   More Data - Meta’s looking to cut spending on the metaverse by 20% between now and [2026](, while it mulls a 5% stake in Ray-Ban owner EssilorLuxottica, the company behind its [smart glasses](. - US bargain hunters spent a whopping $14.2 billion online over the Prime Day this year according to Adobe Analytics, as Amazon touted [“]([record-breaking]([” figures](. - J.D. Vance is the first major party nominee to sport facial hair in [75 years](. - Donald Trump’s 92-minute speech at the RNC yesterday was the longest recorded nomination acceptance speech [in history](. - LLC owners with local election voting rights could be coming to a town [near you](. - Do you open up to strangers knocking on your door? Interesting [new survey from YouGov](. America’s fast food kitchens are feeling the squeeze, with 3M employees needed even after job seekers are accounted for. Miso Robotics’ AI-powered robot Flippy automates those unmanned fryers, with 2.5M+ baskets already cooked for brands like White Castle. [Discover why 36,000+ investors are in](.* Ad   Hi-Viz - May support be with you: Exploring what makes the Star Wars fandom [so unique](. - Bud Light’s rough year in [one chart](. Off the charts: Besides Microsoft, which tech firm is shouldering a lot of blame for the global IT outage that’s been affecting businesses, transport systems, and hospitals around the world? [Answer below]. [Answer here.](   Thanks for stopping by! Have some [feedback](mailto:daily@chartr.co?subject=Feedback&body=Hi, I like the newsletters, but I had a thought for you...) or want to [sponsor this newsletter](mailto:advertising@sherwoodmedia.com?subject=I’m interested in advertising with Sherwood Media)?   Not a subscriber? Sign up for free below. [Subscribe](   Advertiser’s disclosures: * This is a paid advertisement for Miso Robotics Regulation A offering. Please read the offering circular and related risks at [invest.misorobotics.com](. Past performance is no guarantee of future results. Start-up investments are speculative and involve a high degree of risk. Those investors who cannot afford to lose their entire investment should not invest in start-ups. Companies seeking startup investment tend to be in earlier stages of development and their business model, products and services may not yet be fully developed, operational or tested in the public marketplace. There is no guarantee that the stated valuation and other terms are accurate or in agreement with the market or industry valuations. Further, investors may receive illiquid and/or restricted stock that may be subject to holding period requirements and/or liquidity concerns. 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