MTV VMAs 2024: Shoppable Live TV Takes Center Stage

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The 2024 MTV Video Music Awards (VMAs) transformed the viewing experience with a growing  partnership between Paramount Global and Shopsense AI. This collaboration enabled real-time shopping of outfits and designer looks featured during the awards show, and marked a significant shift in content monetization for legacy media companies.

Shopsense’s AI-powered lens allowed viewers to snap photos of outfits during the show, browse similar items suggested by their product recognition algorithm, and make purchases directly from their phones. This seamless shopping experience was designed to enhance engagement and for users to “go through that shopping journey without pausing the content” according to Shopsense’s co-founder and president Bryan Quinn in an interview with CNBC.

In the age of streaming, as traditional TV advertising revenues decline, media companies like Paramount are looking for innovative solutions to boost profits. This new live shopping feature is expected to drive consumer engagement and conversion rates during high-profile events like the VMAs. As the AI continues to improve, it is predicted that this trend will proliferate with other media giants like Disney exploring similar shoppable ad formats.

Retailers including Macy’s, Nordstrom, and Urban Outfitters are leveraging this partnership to capture consumer interest at the moment they’re inspired by what they see on TV. The approach capitalizes on impulse buying, offering curated collections and lookalikes at various price points. As AI continues to transform the advertising and retail sectors, live shopping represents a growing trend that blends entertainment and commerce. This partnership could shape the future of shopping by turning live television into an interactive retail experience.

Will a “right to disconnect” reach the U.S.?

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Australia recently introduced a “right to disconnect” law, allowing workers to ignore after-hours communications from employers without fear of punishment. The law, which aims to restore work-life balance, lets employees choose whether to respond to calls or messages outside working hours unless their refusal is deemed unreasonable. This measure addresses the growing issue of unpaid overtime, with a 2023 survey finding Australians worked an average of 281 unpaid overtime hours annually.

The move is part of a global trend, with more than 20 countries, mainly in Europe and Latin America, implementing similar protections. Proponents argue that this law not only benefits employees but also helps businesses by reducing stress and burnout, leading to healthier, more productive workforces.

In the U.S., however, federal protections do not yet exist. American workers continue to face blurred boundaries between work and personal time, a challenge that has only grown with the rise of remote work since the pandemic. While some states are exploring legislation to address these issues, efforts like a bill proposed in California were put on hold earlier this year after pushback from business groups. As the U.S. grapples with increasing demands for a better work-life balance, concepts like a four-day workweek or the “right to disconnect” could become a key focus of future labor discussions.

Renters Gain Upper Hand as Landlords Offer Perks to Fill Vacancies

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Renters are gaining leverage over landlords as the rental market shifts in their favor. Apartment units are staying vacant longer, vacancy rates are on the rise, and rental price growth is slowing. As a result, landlords are increasingly offering incentives like free parking or discounted rent to attract tenants.

In July, 33.2% of rental listings on Zillow included concessions, steady from June but significantly higher than the 25.4% seen a year ago and the recent low of 19.4% two years prior, according to Zillow. “Landlords are basically in a race to get tenants, so they’re throwing in a bunch of deals and perks to sweeten the pot,” said Orphe Divounguy, a senior economist at Zillow.

These incentives are particularly prevalent in six major metro areas where over half of Zillow’s listings offered sweeteners: Raleigh, Charlotte, Atlanta, Salt Lake City, Nashville, and Austin. Charlotte saw the most significant increase, with incentive offerings rising by nearly 16 percentage points.

Despite these concessions, housing costs remain a significant concern, with shelter prices accounting for almost 90% of July’s consumer price increase. While apartment rents have risen 5.1% over the past two years, this is a marked improvement from the 22.3% surge in the previous two years.

The shift in power is partly due to a building boom, with June seeing the highest increase in multifamily units since 1973. This surge in supply has made it harder for landlords to fill units, with the vacancy rate at 6.6%, the highest since winter 2021.

Mars to Acquire Pringles Maker Kellanova in Record $36 Billion Deal

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Mars, the family-owned candy giant known for brands like M&M’s and Snickers, announced its acquisition of Cheez-It and Pringles maker Kellanova in a deal valued at nearly $36 billion. This marks the largest buyout in the packaged food industry to date.

Mars will pay $83.50 per share in an all-cash transaction, representing a 33% premium over Kellanova’s closing price on August 2, just before news of the potential deal broke. Following the announcement, Kellanova’s shares rose about 8% to $80.45, valuing the company at $28.58 billion on an equity basis.

This strategic acquisition comes at a time when sales growth in the U.S. packaged food sector is slowing, with budget-conscious consumers opting for cheaper, private-label products over more expensive branded items. The deal surpasses Mars’ previous $23 billion takeover of Wrigley in 2008 and will consolidate popular consumer brands under one roof. Mars’ portfolio includes Twix, Bounty, and Milky Way, while Kellanova’s offerings feature well-known snacks like Pop-Tarts, Rice Krispies Treats, and Eggo waffles.

Legal experts suggest that the acquisition is unlikely to face significant antitrust challenges due to the minimal overlap between the two companies’ product lines. Upon completion of the deal, expected in the first half of 2025, Kellanova will be integrated into Mars Snacking, led by Global President Andrew Clarke and based in Chicago.

Daryl Hagler & Other Experts Share Their Thoughts on the Real Estate Market

Real Estate

There’s no question that the 2024 real estate market is filled with both challenges and opportunities. Economists are unconcerned that rising housing prices could lead to another housing crash, expressing optimism that even if prices fall, there will not be nearly as severe a decline as we saw in 2008-2009. Hearing from experts in the field including Daryl Hagler, Dave Liniger and Rick Sharga enables people to get a better handle on what’s happening in the market and on what decisions and investments they should be making.

With the Great Recession looming fresh in their memory, builders have exercised more caution in terms of construction pace, which has led to a shortage of homes for sale. Further tightening the real estate market are those who are locked into a 3% mortgage rate and are reluctant to sell. ­­

Of course no one has a crystal ball, but it’s interesting to hear from real estate experts and to see what they predict for the rest of 2024.

Daryl Hagler cites research demonstrating that stricter environmental regulations and sustainable practices, while important and positive, have increased project costs. On top of this, supply chain disruptions also cause project delays and higher rates. Industry professionals must continue to be strategic and creative in their approach to the 2024 market.

Rick Sharga expresses optimism in Altos Research’s study, which showed that there has been a price reduction among 35% of listed properties, a higher percentage than last year. While this may not inevitably point to a nationwide price drop, it could be viewed as moving in that direction.

Dave Liniger explains that the high mortgage rates unquestionably impact buyer behavior. Home prices continue rising with high demand and low supply, and Lininger expects that as soon as interest rates drop, there will be another “boom and bust cycle.”

The 2024 real estate market is complex for both buyers and sellers. While acknowledging the frustrations that accompany this challenging time, experts from Rick Sharga and Dave Liniger to Daryl Hagler remain optimistic that housing prices and mortgage rates will drop with the growing recognition that housing inventory must increase to stabilize prices.