A FIFA by any other name would play as sweet [Dmytro Aksonov/E+ via Getty Images]
Facebook reportedly plans to change its name to reflect its growing focus on the metaverse. We might soon be saying, “She didn’t accept my Horizon friend request.” Tweet us your suggestions for Facebook’s new name @RobinhoodSnacks.
The market-tracking S&P 500 index closed at a fresh record today, as investors digested another round of earnings. Snap stock plunged 25% after quarterly sales missed expectations, while WeWork shares jumped on their first day of trading — two years after its botched IPO.
Return of the "try me" moisturizers... Ulta is Sephora's less swanky rival, with 1.3K US stores compared to Sephora’s 2.7K global stores. Ulta shares have dropped 13% since its investor day on Tuesday. Its three-year growth outlook missed expectations, though it expects to outpace the rest of the beauty industry.
TikTok blush... As the shift to digital continues, Ulta is following Sephora’s lead and rolling out same-day delivery. But IRL browsing is key, too: Ulta customers who shop both online and in stores typically spend 3X more than online-only shoppers. So Ulta plans to open 50 new stores a year, and have 100 mini shops inside Target this year. But the juiciest update from Ulta:
Being a social hub > using a social hub... Product discovery and spending have shifted to TikTok and Insta. But instead of only advertising on social platforms, Ulta wants to create its own social commerce hub. That way Ulta — not Insta — will gain valuable browsing data that it can use to sell targeted ads to brand partners. By making its digital sales channels more like content-focused social apps, Ulta could unlock a big new revenue stream.
It’s getting Messi… A breakup between a soccer power couple could be coming. Video-game giant Electronic Arts (EA) and soccer org FIFA have released a new FIFA game together for 28 years, making FIFA the best-selling sports-game franchise ever. Fans love that FIFA lets them play with friends while rooting for their favorite teams. But EA is reportedly considering walking out on its longtime teammate.
Trouble in the FIFA-verse… EA has made $20B+ from the FIFA franchise over the past 30 years or so, and FIFA currently makes $150M in yearly licensing fees from EA. But their 10-year contract ends after next year’s World Cup in Qatar, and they can’t agree on a new deal. Here’s why:
You need the name to join the game… But you only need loyal fans to keep playing. EA leveraged FIFA’s brand to generate buzz and build a huge global fan base: More than 31M people have played FIFA 21 since it launched last fall. But EA’s games themselves are what keep fans plugged in. Most sports fans don’t abandon their teams when they trade star players; EA hopes customers show similar loyalty.
Authors of this Snacks own shares of: Netflix, Tesla, Moderna, and Snap