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Discourse regarding the state of streaming platforms has been abundant as the race for content and content creators remains heated. Corporate brands have strived to build or bolster their platforms to attract as many viewers as possible with the streaming video on demand (SVoD) user penetration at 15.2% in 2022 and is expected to hit 20.6% by 2027. Culturally diverse creators who are in high demand right now like Tyler Perry who could be looking for a bigger stake in the SVoD by potentially walking away from his BET+ $150 million per year contract that runs through 2024.

CBx Vibe:Banned From TV” Noreaga & Big Pun

By Gary J. Nix

  • Tyler Perry may be looking to end his $150M-per-year BET+ contract that runs through 2024
  • Revenue in the Video Streaming segment is projected to reach $80.8B in 2022

Discourse regarding the state of streaming platforms has been abundant as the race for content and content creators remains heated. Corporate brands have strived to build or bolster their platforms to attract as many viewers as possible with the streaming video on demand (SVoD) user penetration at 15.2% in 2022 and is expected to hit 20.6% by 2027. Culturally diverse creators who are in high demand right now like Tyler Perry who could be looking for a bigger stake in the SVoD by potentially walking away from his BET+ $150 million per year contract that runs through 2024.

Why This Matters: As usual, diverse content is in high demand. More specifically, the rush for Black content creators represents a significant amount of activity by streaming channels. One of the first notable deals was the one Netflix (NFLX -1.36%) made with Shonda Rhimes. Since then, they’ve added a deal with the Obamas while Amazon (AMZN -1.24%) Prime is doing business with Jordan Peele and Issa Rae. It is clear that part of these channels’ strategy includes using these creators’ culture cachet to draw users in, and that can cost a pretty penny.

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CBx Vibe:Hot Girl Summer” Megan Thee Stallion

CBx Daily

‍Overtime, a sports media start-up for high school sports is big business as the company just raised $100 million in its Series D funding round from Liberty Media and Morgan Stanley’s Counterpoint Global team. Drake, Kevin Durant and Amazon (AMZN -0.14%) founder Jeff Bezos among others are already heavily invested in the company as it gears up to launch new leagues. The six-year-old company is making sure its players aren’t left out in the cold when it comes to compensation by providing guaranteed salaries to these young athletes.

CBx Vibe:How Much a Dollar Cost?” Kendrick Lamar

CBx Daily

Esports and media powerhouse Faze Clan, one of the first gaming and entertainment companies targeted specifically toward Gen-Z consumers, $725 million SPAC IPO has the potential to revitalize the beleaguered space. Through its deal with B. Riley Principal 150 Merger Corp, the newly formed company is worth $987 million, according to Sportico. With SPAC IPOs at a crossroads, falling 94% in the number of new listings from the record-setting first quarter of 2021, and a dive of 98% in value, according to Bloomberg law, perhaps Esports can be the catalyst to revive the sector.

CBX Vibe:Controlla” Drake

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CBx Vibe:I Don’t Believe You Want To Get Up And Dance” The Gap Band

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