Changing the Game: Fangage Digitizes Sports Photo Signings

Changing the Game: Fangage Digitizes Sports Photo Signings

By CultureBanx Team

  CBx Vibe:Let it Fly” Lil Wayne Feat. Travis Scott

As a former college athlete Josh Bryant along with co-founder Emmanuel Sanders of the Denver Broncos, had a clear understanding of the way fans best connected with athletes through digital engagement, so they launched Fangage. It’s a platform that allows fans to upload personal photos to their favorite celebrities and receive a signed digital copy back. “People are taking more pictures at sporting events and are more interested in getting their personal pics signed rather than a stock photo,” said Bryant. The intrinsic value lies with celebrities signing the photos live on Fangage’s social media platforms. “People purchase our product because of the sentimental value it provides not the resale value.” They have 35,000 registered users for their B2C model where consumers are charged per picture upload.

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Adidas Races To Beyonce In New Sales Revival Sneaker Deal

Adidas Races To Beyonce In New Sales Revival Sneaker Deal

By CultureBanx Team

  • Beyoncé is set to relaunch Ivy Park and footwear with Adidas

  • Adidas shares were up nearly 1.5% after the partnership announcement

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Beyoncé has taken her talents to Adidas (ADDYY +1.23%) to create sneakers and (ADDYY +1.23%) for the relaunch of her Ivy Park athleisure line. Adidas has been relying heavily on fashion and not  so much on actual sports, during a time when urban culture continues to be sewn into corporate strategy. So there’s a lot at stake for Adidas in the sneaker race, as the culture around sports becomes almost more meaningful and profitable.

Why This Matters: Sneakers and fashion are industries that often rely on exclusivity and hype. Since Adidas has experienced a decline in sales and some people see their biggest problem isn’t about focusing on fashion over sports, but more so the marketing push behind them. This partnership with Beyoncé who wields 126 million Instagram followers, comes across as a strong influencer marketing move for Adidas. Valued at $1.07 billion, the influencer market is expected to more than double to $2.38 billion in 2019.

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Angola’s Unitel Board Wants to Oust Africa’s Richest Woman

Angola’s Unitel Board Wants to Oust Africa’s Richest Woman

By CultureBanx Team

  • Isabel dos Santos owns a 25% stake in Unitel

  • Other shareholders want to cut down on the influence of dos Santos

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Africa’s richest woman Isabel dos Santos has been re-elected to the board of Unitel, Angola's biggest telecommunications company but not without controversy. The decision comes after speculation that dos Santos could have been ousted due to a shareholder dispute.

Why This Matters: Ownership of Unitel is split equally between Isabel dos Santos, Oi, Sonangol and Leopoldino do Nascimento, each has a 25% stake in the company. Sonangol recently started making waves on the board by hinting at possibly selling its stake, and wanted to cut down the influence dos Santos had at the company.

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Papa John’s Takes A Cultural Shot With Shaquille O’Neal

Papa John’s Takes A Cultural Shot With Shaquille O’Neal

By CultureBanx Team

  • Shaquille O’Neal becomes 1st African American to join Papa John’s Board

  • Papa John’s Q4 same-store sales in North America decreased by 8.1%

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Papa John’s (PZZA +1.91%) is going through a major identity crisis and has tapped NBA Hall of Famer Shaquille O’Neal to repair its image. In addition to becoming the pizza chains new frontman, set to appear in TV ads, he also joined the company’s board of directors and will invest in nine of its Atlanta restaurants. Will O’Neal be able to make the public forget about Papa John’s diversity issues and help revive sales?

Why This Matters: The fourth largest pizza chain’s problems all started when its founder John Schnatter got involved in the NFL’s protests against police brutality in November 2017, and then he used a racial slur during a conference call. Schnatter claimed the protests were affecting pizza sales and the company’s shares have been struggling ever since, down nearly 10% in the last year. Bringing on O’Neal, who is a likeable personality and the first African American to join Papa John's board into the fold, may redirect customers attention away from its shortcomings and help sell more pizza.

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Splice Turns Up the Music Sampling Business Model

 Splice Turns Up the Music Sampling Business Model

By Taylor Durham

  • Music sampling company Splice raised $57.5M

  • The Winstons are credited with producing the most sampled piece of music in history

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The art of music sampling as we know today has been around for decades, made famous by the early DJ and producers of hip-hop. Now, music creation and collaboration company Splice has raised $57.5 million in a Series C funding round. It joins the ranks of other subscription-based platforms that offer aspiring musicians access to a vast database of sampled loops, beats, hits and tracks.

Why This Matters: The most notable riffs, kicks, and hits have come from Black music and have been sampled countless times without acknowledgment or proper credit. Splice can change the game by creating new revenue streams outside of the industry standards. The twist? Splice lets musicians sell their music royalty-free and charges users $7.99 per month. This model has allowed Splice to pay out more than $15 million since 2013. The catch, are the right people getting paid?

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Lyft’s Stock for Minority Drivers Could Help Close Wealth Gap

Lyft’s Stock for Minority Drivers Could Help Close Wealth Gap

By CultureBanx Team

  • 56% of Lyft drivers are minorities

  • Lyft gave long-standing drivers one time bonuses up to $10K to buy stock

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Some of Lyft's (LYFT +8.74%) drivers are likely still turning up after the company’s successful $26 billion public market debut. The ride sharing platform offered a rare opportunity for some of its drivers to become stockholders and join other stakeholders in the quest for profitability and returns. Since minority drivers are the majority at Lyft, could we start to see more of these underrepresented groups investing in stocks and start to close the wealth gap?

Why This Matters: Minority drivers literally put the ride sharing service on the map and 56% of them identify with this group, according to the 2019 Economic Impact report sent by Lyft spokesperson Daniel Roberts. Also, 44% of rides start or end in low income areas. In some of Lyft’s most popular markets like New York City and San Francisco, 82% and 66% of drivers identify with a minority group respectively.  

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Changing the Game: Barley Sober Serves Up the Starbucks of Nightlife

Changing the Game: Barley Sober Serves Up the Starbucks of Nightlife

By CultureBanx Team

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When founder Rohan Brown realized the hassle bar patrons went through trying to get the bartender's attention, he created Barley Sober. It’s a mobile app that allows you to pre-order drinks at the bar and has changed the future of going out. He quickly saw how nightlife had become very inconvenient and non-active. It’s not just customers that benefit from the app, “bar owners were losing out on money because they’re unable to streamline their operations,” Brown said. Thanks to his platform bar owners aren’t missing out on sales and customers have a central location to easily pick up drinks. According to Brown, there are more than 400,000 bars, taverns and nightclubs in the U.S., that could create better customer experiences.  Among the busy bars currently using Barley Sober they have seen an increased process workflow from 12-15 minutes down to 4-5 minutes. Next up they plan to expand internationally.

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Zimbabwe’s New Currency Exacerbates Poverty

Zimbabwe’s New Currency Exacerbates Poverty

By CultureBanx Team

  • Zimbabwe's central bank introduced a new currency called RTGS dollars

  • In 2009, the Zimbabwean dollar was destroyed due to hyperinflation

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Zimbabwe's central bank decided to introduce yet another currency into its already crippled financial system. The country recently started trading a sharply discounted replacement currency called RTGS, as they attempt to ease a cash shortage that has paralyzed the economy and forced millions deeper into poverty.  

Why This Matters: John Mangudya, Zimbabwe’s central bank chief perhaps views this as a safer and less risky bet after the Zimbabwean dollar was destroyed in 2009 due to hyperinflation. The BBC reported at its height prices were almost doubling every day and the central bank printed notes worth 100 trillion Zimbabwe dollars to try and keep up. The RTGS dollar is supposed to bring together bond notes, debit cards and mobile payments to make sure that they are all worth the same.

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Are Chief Diversity Officers Losing the Good Fight?

Are Chief Diversity Officers Losing the Good Fight?

By Fredrick Lee

  • Only 20% of Fortune 500 companies have diversity officers

  • More-diverse corporations outperform less-diverse competitors by 35%

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Diversity and inclusion is a profitable avenue for corporations not to ignore.  However, recent bad press from corporations like Gucci and Prada raise questions about their commitment to diversity. Many chief diversity officers lack leadership support, resources and training. Perhaps this makes promoting diversity a harder commitment and sets these executives up for failure.

Why This Matters:  Only 20% of Fortune 500 companies employ chief diversity officers. In many cases corporate leaders listed diversity at the bottom of the top eight business strategies for their corporations. It’s easy to see why more than half of surveyed chief diversity officers in a 2018 McKinsey study, feels there is little or no support from corporate leaders for their work.

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