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Consumers are spending more money monthly on video streaming plans. But, as consumers look to cut streaming plans as costs go up, only the best and most-loved platforms will thrive, which could be bad news for streaming stocks.
What Happened: Benzinga recently polled its website readers to ask which streaming platform would be the one they would keep if they were forced to choose.
The poll came ahead of highly anticipated first-quarter earnings from streaming leader Netflix Inc (NASDAQ:NFLX).
The question was: "If you could keep one of the following streaming platforms, which would you choose?"
The results were as follows:
Disney+: 8%
Netflix: 61%
Amazon Prime Video: 24%
MAX: 7%
The results of the poll showed the dominance of Netflix with the streaming platform picked by more than 60% of respondents as the one to keep.
Netflix spent aggressively on acquired and original content over the year and continues to have some of the most streamed shows and movies. Its shows also trend as topics worldwide.
Ranking second in the poll was Amazon Prime Video, which is owned by Amazon.com Inc (NASDAQ:AMZN). Amazon acquired MGM in a move that significantly boosted its library of content. The company has also been aggressive in acquiring sports rights, including being the exclusive home of "Thursday Night Football."
A study recently showed Prime Video had the largest library of shows and movies, ranking ahead of Netflix.
Disney+ from Walt Disney Co (NYSE:DIS) and MAX from Warner Bros. Discovery (NASDAQ:WBD) ranked third and fourth, respectively.
Content on Disney+ appeals to fans of some of the biggest franchises of all time including Star Wars and Marvel. The platform also has a vast library of kids' content, which could make it a must-have for families.
Max is the home of content from HBO and offers content from brands like Discovery Channel, CNN, Cartoon Network, Adult Swim and Animal Planet. The platform has sports content too, which might appeal to certain streaming users. Max comes in on the pricier side of the streaming platforms, which could have impacted the poll results.
Related Link: Netflix Q1 Earnings Preview: Subscriber Growth, Potential Price Increase, Ad-Tier Plan And More On What Wall Street Expects
Why It's Important: A recent Deloitte survey showed that U.S. consumers spend $61 per month on streaming platforms.
In the survey, 36% said that the content was not worth the money for most platforms.
An alarming statistic for the streaming sector was that 40% of households said they had canceled at least one streaming service in the past six months. Forty-eight percent of respondents said they would cancel a streaming platform if the price went up $5 or more monthly.
Netflix reports first-quarter financial results Thursday, April 18 and among the key items investors and analysts are watching is a potential price hike for its ad-free plans.
The study was conducted by Benzinga from April 16, 2024 to April 18, 2024, and included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from 397 adults.
Photo: Proxima Studio via Shutterstock
China has set a deadline for its leading telecom operators to rid their networks of foreign semiconductors by 2027.
In an exclusive interview with Benzinga, Brendan Ahern, Chief Investment Officer at KraneShares, shared his views on the implications this will have on semiconductor companies and investors.
This directive targets chips from American giants Intel Corp (NASDAQ:INTC) and Advanced Micro Devices Inc (NASDAQ:AMD). These firms have long dominated the Chinese telecom infrastructure landscape.
Now, they face the prospect of losing a significant portion of their revenues. China accounts for 27% and 15% of their total revenues, respectively.
And yet, Ahern expects that foreign chip suppliers like Intel and AMD will experience limited commercial impact.
“The directives only apply to government procurement, not the broader commercial market in China,” he says. The directives appear to be “more of a political and symbolic move.”
This situation mirrors a U.S. decision from four years ago. Recall how telecoms regulator FCC imposed a ban on equipment from Chinese firms Huawei and ZTE, citing national security concerns.
“The directives do signal China’s broader push towards semiconductor self-sufficiency, both in chip design and manufacturing,” noted Ahern.
Huawei, in particular, is spearheading efforts in this regard. It has plans to establish a research and development facility outside Shanghai focused on developing homegrown chipmaking technologies.
Additionally, Semiconductor Manufacturing International Co. is also making noteworthy advances in high-end silicon technologies.
Also Read: Apple’s Falling iPhone Sales Have Another Challenge To Deal With As Huawei Launches New Phones
Ahern recommends that investors consider KraneShares CICC China 5G and Semiconductor Index ETF (NYSE:KFVG), which could capitalize on this trend.
The ETF’s holdings (stocks are not available to trade in the U.S.) include:
Furthermore, potential stock picks may include leading Chinese chip design firms and chip manufacturing equipment companies benefiting from the government’s push for domestic chip production.
Three stocks to consider for U.S.-based investors:
Hua Hong positions itself for expansion with a notable listing on the Shanghai Exchange. Intchains’ versatile operations and robust finances make it an attractive stock. ACM’s upgraded revenue projections and favorable analyst assessments signal a promising trajectory for the stock.
As China accelerates its quest for semiconductor sovereignty, investors should remain attuned to the evolving landscape, where geopolitical tensions intersect with technological ambitions.
Read Next: ‘Mistake On Top Of A Mistake’: China Slams US Probe Into Its Maritime And Shipbuilding Sectors
Image: Shutterstock
Country music legends David and Howard Bellamy, known as The Bellamy Brothers, joined Trulieve's CEO Kim Rivers on the stage Wednesday at the Benzinga Cannabis Capital Conference. Both Bellamy Brothers are members of the advocacy group Safe and Smart Florida which, with a little help from their friends, was responsible for placing a constitutional amendment to legalize recreational cannabis on the Florida ballot.
Trulieve (OTCQX: TCNNF) was and still is a major backer of the effort, which paid off several weeks ago when the proposal was cleared by the state Supreme Court to appear on the November 2024 ballot.
Howard Bellamy, who said he couldn't remember not being involved with cannabis all these years, admitted that it is "amazing to have come this far and finally getting it on the ballot." The Bellamy Brothers are in their 70s.
"What did you do when you heard cannabis legalization had finally made it onto the ballot?" Rivers asked them.
"We rolled a fat one!" said David, pointing out that his brother Howard was one of the first people in Florida to have a medical marijuana card. Florida legalized medical cannabis in 2016 with a healthy 71% of the vote.
Now, says Rivers, Florida needs more of the same to pass the initiative, known as Amendment 3. She laid out some talking points, which she called necessary because, well, "Florida is Florida, it's about incremental changes," presumably referring to the Sunshine State having shifted from a purple to a solidly red state.
"The 60% threshold needed in November to pass Amendment 3 is no joke," Rivers said. "We can't take a single vote for granted."
Talking Points For Floridians:
Rivers advised the audience to read a recent FDA report that compared cannabis to alcohol.
"By every metric – hospitalizations risk of abuse in treatment centers, fatalities DUIs – cannabis is a safer alternative. It's about freedom of choice for adults 21 and over," Rivers said, provoking a burst of applause.
Howard Bellamy said opponents of the legalization initiative "don't really have a valid argument."
His brother David added, "If everybody could visit the [Trulieve] grow house, it's cleaner than a hospital.
"We've traveled the country and we've seen different programs in different states, such as Oklahoma, which is like the Wild West where everyone's grandmother has a dispensary," David said. "I think the direction you guys have taken here is really the best in the country."
Photo: Jean Laurenceau
Florida stands on the brink of a significant shift with Amendment 3, a proposal that could legalize the use of cannabis for adults over the age of 21.
At the Benzinga Cannabis Capital Conference on Wednesday, a distinguished panel comprising Brady Cobb, CEO/founder of Sunburn Cannabis, Richard Proud, CEO of iAnthus, Durée Ross, president & CEO of Durée & Company and Cory Azzalino, CEO of Eaze and Green Dragon, engaged in a critical discussion on Amendment 3.
This session delved into the potential ramifications of legalizing adult-use cannabis in Florida, offering valuable insights into the state's legislative landscape and public sentiment towards this transformative initiative.
Moderated by Dustin Eide, CEO of CanPay, the conversation delved into Florida's journey toward potentially legalizing recreational cannabis.
The panelists shared their unique insights on the state's legislative and public sentiment landscape, emphasizing the amendment's potential to revolutionize the cannabis industry in Florida.
They discussed the strategic moves and considerations for businesses in anticipation of the amendment's passage, highlighting the importance of readiness for either outcome.
Cobb, with his extensive background in cannabis legislation and lobbying, highlighted the community's collective efforts, particularly praising Kim Rivers for her pivotal role in this journey.
"We're built for a medical market, and it's still a $2 billion medical market right now... We're growing new patients at 28% month over month." Cobb's insights underline the significance of readiness and adaptability in the evolving cannabis industry.
The conversation also covered operational strategies for businesses, with insights from Proud on the importance of innovation and market differentiation in anticipation of adult-use legalization.
Meanwhile, Ross emphasized the ongoing necessity of robust marketing and public relations efforts to navigate the evolving landscape.
With a mix of optimism and caution, the speakers underscored the significance of Amendment 3, not just for Florida but as a potential trendsetter for cannabis legislation across the United States.
The panelists discussed the scenario if Amendment 3 does not pass, emphasizing the importance of being prepared for all outcomes.
They suggested that the industry would remain robust due to Florida's strong medical cannabis market, but acknowledged that it would be a setback for expansion plans.
There was a consensus on the resilience of the market and businesses, yet they noted it would necessitate a strategic pivot and possibly impact the number of operational stores.
Azzalino highlighted resilience in the face of potential setbacks, stating, "No matter what, the operators existing within the Florida medical market operate fairly profitably... So, I don't think you know it would certainly be a setback... but irrespective, it's a phenomenal medical market."
Photo by Karl Callwood on Unsplash.
During the Benzinga Cannabis Capital Conference‘s second-day fireside chat, panelists Dreka Gates and Quawntay "Bosco" Adams shared insights into how cannabis has shaped their journeys of entrepreneurship and advocacy. Moderated by Beard Bros Pharms co-founder Bill Levers, the discussion unveiled the intricate relationship between the cannabis industry and individual paths toward social and economic empowerment.
Want to watch our Cannabis Capital Conference live? For existing subscribers, you can get direct access through our research platform. For new users, you can get instant access here!
Gates, creator of the plant-based wellness products line DREKA and stepping into the cannabis industry with her venture in Mississippi, Love’s Harvest, aims to make cannabis more accessible, emphasizing its role in holistic healing. With a background spanning 17 years in the music industry, Gates’s entrepreneurial skills have seamlessly transitioned into her cannabis endeavor, reflecting a strong commitment to wellness and community upliftment.
“I’m just excited to help move the industry forward, specifically in Mississippi. Mississippi’s forgotten about, but it’s a beautiful place. It’s a blank canvas,” said Gates, highlighting the still untapped opportunities in her state.
Adams, author, producer, advocate and speaker shared his harrowing yet inspiring story of resilience. Arrested in 2004 and sentenced to 35 years for cannabis possession, his solitary confinement did not dampen his spirit. In fact, he self-published a book, “Chasing Freedom,” outlining his life’s journey from Compton to cannabis advocacy.
Now, Adams dedicates his freedom to uplifting those still ensnared by the war on drugs, stressing the necessity of support for the incarcerated and underserved communities within the cannabis industry. “While a lot of us are looking to get rich, we still need to remember that we have people who are suffering from the War on Drugs,” Adams stated, receiving a burst of applause from the conference audience.
Despite their different paths, both panelists agreed on the pivotal role of entrepreneurship in navigating the cannabis industry’s complexities. Adams and Gates, through their unique journeys, illustrate that with determination and a willingness to take calculated risks, overcoming systemic barriers is possible.
As the panel concluded, Dreka Gates envisioned her role in health and wellness, aiming to be a central figure in holistic plant medicine. Adams, focusing on content creation, plans to spotlight stories contributing to the broader narrative of drug policy reform.
Levers’ closing, highlighting the irony of discussing a once-illegal activity in a formal, celebrated conference setting, served as a poignant conclusion to a panel rich with lessons of the transformative power of cannabis.
Photo by Jean Laurenceau
What is the strategy for branding in a fragmented market? Was the topic Wednesday at the Benzinga Cannabis Capital Conference in Florida, which got things heated up.
"Regulations are critical, in some markets, there are potency caps, in Pennsylvania you can´t sell an edible, so today that's not a market we can win with our brands… It´s just a f—ed-up situation for all of us" said Howard Schacter, chief commercial officer for MariMed (OTC:MRMD). "We are farmers, retails, co-packers, its insanity every day".
As it turns out disparity of products across states can cause headaches. As MariMed is set up to expand, consistency and quality issues arise.
Consistency And Quality A Means For Differentiation
"Hoping for product consistency when we are all striving to be the next Coca-Cola, Starbucks, MacDonalds (…) is so difficult. What we learned is the importance of investing in having a travel team, to make sure that in each market we are delivering the exact same products, if not packaging, that our customers are looking for," Schacter said.
"It´s all challenges in maintaining a unified brand in all states. We spend a lot of time and resources and energy trying to unify, whenever that's possible, takes a lot of creativity," added Kristi Palmer, co-founder and president of California Kiva Confections.
Palmer also stressed that differentiation from competition can be found in consistency and quality, as this facilitates customer experiences and the reliability of products.
Packaging consistency nevertheless is hard to achieve and requires a creative effort to adjust and surpass the vast differences that state-based regulation imposes over cannabis product packaging.
Standardizing consumer experiences while building a reliable supply chain is also key for Angela Pih, global chief marketing officer at CCELL: "Our products are going to be very consistence from a quality and experience standpoint".
Pih added hard data to this claim, sharing that Budtenders can impact 40 to 70 percent conversion at the retail level. Meaning that a good budtender can create a loyal client.
"A few of all on the management teams took the extra step of actually working the sales floor, working alongside our budtenders, packing at the cultivation facility, trimming, and really understanding at the very base level exactly what these folks do every single day," Schacter added.
Budtenders are the front line and key to business success. But also knowing the process firsthand should be an aspiration for management.
Consumer experiences have an impact on confidence, which is fundamental for scaling as a brand enters a new market.
"We are looking to a ton of data and then the regulations too," besides looking at the markets that are thriving, so "it's a three-dimensional chess board," said Schechter.
As it always costs more to retain a customer than to get a new one. Pih explained that "the cost of not doing something right is going to be exponential in a market entry situation".
Closing remarks from panelists might be useful insights for those aiming to expand its presence in the cannabis ecosystem: "Make sure you are resourced when you jump into another State", "Budtenders training is critical" and "It´s not the first purchase is your second and thirds that are critical for success".
Photo by Jean Laurenceau
Ric Flair, one of the greatest wrestlers of all time, and legendary boxer Mike Tyson share a common interest in cannabis. So much so the duo teamed up to offer cannabis products through their brands Tyson 2.0 and Ric Flair Drip.
Both combat sports icons are known for being able to take a lot of hits, but one of them can handle a lot more THC than the other, and it’s not even close.
What To Know: Wednesday at the Benzinga Cannabis Capital Conference in Hollywood, Florida, Flair and Tyson took the stage together — Flair in person, Tyson by video — to discuss the early success of their cannabis partnership and announce new plans moving forward.
When asked about the best joint the duo ever shared, Tyson recalled a time in Chicago, Illinois in which the two smoked together.
“It was amazing. You had to see it to believe it,” Tyson said.
Flair also chimed in and told a different story about smoking cannabis with Tyson in The Hamptons.
“I said ‘You know what, Mike, I’m going to show you that I can smoke as much as you.’ At four o’clock in the morning, I didn’t even know where I was,” Flair said. “Literally, he puts Ric Flair to bed with his cannabis.”
Don’t Miss: EXCLUSIVE: Focus On Selling Numbers, Not Dreams, That’s What Makes Cannabis A Good Investment
He told the crowd he didn’t want to do that again with a laugh. Tyson assured him that they would smoke again after his upcoming fight.
Tyson is taking a break from smoking as he trains to fight YouTuber-turned-boxer Jake Paul in an exhibition match scheduled for July 20.
When asked about how cannabis impacts his family life, Tyson responded in a way that only Tyson can.
“Well right now I’m not smoking, so the family relationship is not going too well, but when I’m smoking, it’s just beautiful,” Tyson said as the crowd erupted with laughter.
Flair said cannabis, and edibles in particular, have helped him wean off of alcohol and Xanax, but he has not built up a tolerance to smoking THC as Tyson has.
Flair suggested that Tyson has no limit, whereas he can only take about four hits — five and he starts talking to himself, he said.
“I do like smoking the weed now, but there’s a couple people I can’t hang with and Mike is one of them,” Flair said.
Want to watch our Cannabis Capital Conference? For existing subscribers, you can get direct access through our research platform. For new users, you can get instant access here.
Benzinga’s Javier Hasse, left, and wrestler Ric Flair, center, at the Benzinga Cannabis Capital Conference April 17, 2024 in Hollywood, Florida. Photo by Quentin Dupree.
"Not trying to always be the next unicorn is okay… it’s actually great," Morgan Paxhia, a co-founder and managing director at Poseidon Investment Management, told the audience at the Benzinga Cannabis Capital Conference in Florida on Wednesday. He said selling a cannabis business and then building a new one from scratch is not a bad idea.
"We need to see good investments being made, entrepreneurs being realistic about the valuations and building good companies… and not being afraid to hit the bit," Paxhia said. That, actually is a great way to attract investors' attention, he added.
Paxhia joined three other experts, John Darwin, a managing partner of Luminous Capital, Brett Finkelstein, a managing partner of Skyvest Partners LP and Meris Kott, CEO of Shiny Health & Wellness Corp., on the stage at The Diplomat Beach Resort in Hollywood in a panel moderated by Tom Zuber, a founder and the managing partner of Zuber Lawler, on what makes a company investable in the cannabis industry.
Zuber said that what sells in the cannabis space right now are numbers. "Selling the dream is kind of over, and what you’re selling are numbers…if you focused on selling numbers, you’re going to have a lot more success in this environment."
For Shiny Health's Kott, the first thing to look at when investing in a company is if it’s new, or if it’s "already made some mistakes."
She prefers investing in the latter. Why?
"Companies that are going through turnarounds that have already corrected, some of their miscues and have already cut their corporate overhead and cut some of their expenses and know the direction that they’re going," she said.
Luminous Capital's Darwin believes in investing in cannabis as well. Even though the past 12-18 months were challenging for cannabis operators nationwide, new partnerships are being forged.
"The people that are going to succeed in the long run are starting to truly define themselves," he said.
Want to watch our Cannabis Capital Conference live? For existing subscribers, you can get direct access. For new users, you can get instant access here!
Some of the key indicators or metrics he looks for when considering investment opportunities are capital stack and organic growth in addition to margins revenue and adjusted EBITDA, to name a few.
Skyvest Partners' Finklestein emphasized that there are still companies and great management teams that need growth capital and human capital that will help amplify their stories.
In terms of what presents better investment opportunities in the current environment, Poseidon's Paxhia cited Ohio’s cannabis landscape, as well as New Jersey, Pennsylvania and Massachusetts.
"Ohio is definitely a very interesting market…they’re getting their adult-use market open sooner than we all thought," he said. It's "very cool what’s happening here [in Florida]," Paxhia added referring to Floridians being set to vote on a recreational marijuana constitutional amendment in November.
Skyvest Partners' Finkelstein agreed.
For cannabis multi-state operators (MSOs) Florida represents a great opportunity. "If you’re not in the Florida market, you’re gonna have to be here," he said. "It’s one of the states that are on hyper-growth on both visitors, but also residents coming into the market."
Interested in the latest developments in the industry? Stay abreast at the ongoing Benzinga Cannabis Capital Conference in Florida. Want to watch our Cannabis Capital Conference live? For existing subscribers, you can get direct access. New users, you can also get instant access here: https://www.benzinga.com/events/cannabis-conference/livestream/
Photo by Jean Laurenceau
Want to watch our Cannabis Capital Conference live? For existing subscribers, you can get direct access. For new users, you can get instant access here!
Want to watch our Cannabis Capital Conference live? For existing subscribers, you can get direct access. For new users, you can get instant access here!
Legendary American wrestler Ric Flair‘s cannabis brand is available in 10 states and will be launching in six new onesin partnership with Cannabist Company Holdings Inc (OTC:CBSTF), formerly known as Columbia Care.
Flair, who is the founder of Ric Flair Drip Global, announced the brand is planning an expansion into six additional states — New Jersey, New York, Ohio, Florida, Maryland and Pennsylvania — on Wednesday at the Benzinga Cannabis Capital Conference in Hollywood, Florida.
What To Know: The news comes just hours after Ric Flair Drip announced its debut in California in partnership with Green Dragon Cannabis. Flair will travel from the Benzinga conference to California this week to make a special in-store appearance and celebrate cannabis culture on April 20 (4/20).
The retired wrestler, popularly known as “Nature Boy,” offers several premium and affordable, hemp-derived cannabis and consumable products through the Ric Flair Drip line, including edibles called “Wooooo! Chews.”
Flair told the crowd at the Benzinga conference that he was addicted to Xanax before he found cannabis edibles. That was part of what inspired him to launch his own cannabis brand. He applauded his team for the early success of the brand and signaled that he was confident in the company’s expansion plans.
“I make more money now than I ever made wrestling, it’s ridiculous … and it’s all because these guys and Mike [Tyson] allowed me to come on board, be a part of their team and live the dream,” Flair said.
Want to watch our Cannabis Capital Conference live? For existing subscribers, you can get direct access through our research platform. For new users, you can get instant access here!
Want to watch our Cannabis Capital Conference live? For existing subscribers, you can get direct access. For new users, you can get instant access here!
Want to watch our Cannabis Capital Conference live? For existing subscribers, you can get direct access. For new users, you can get instant access here!
Want to watch our Cannabis Capital Conference live? For existing subscribers, you can get direct access. For new users, you can get instant access here!
Want to watch our Cannabis Capital Conference live? For existing subscribers, you can get direct access. For new users, you can get instant access here!
Want to watch our Cannabis Capital Conference live? For existing subscribers, you can get direct access. For new users, you can get instant access here!
Want to watch our Cannabis Capital Conference live? For existing subscribers, you can get direct access. For new users, you can get instant access here!
Want to watch our Cannabis Capital Conference live? For existing subscribers, you can get direct access. For new users, you can get instant access here!
Want to watch our Cannabis Capital Conference live? For existing subscribers, you can get direct access. For new users, you can get instant access here!
Want to watch our Cannabis Capital Conference live? For existing subscribers, you can get direct access. For new users, you can get instant access here!
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