Footlongs and Farewells

Good morning! Winner winner, chicken dinner… as beef prices skyrocket, with the cost of steak having almost doubled since 2006, meat-lovers are fueling a ‘[chicken gold rush](’. - Fast food is in flux… but America’s still lovin’ it. - Price hikes and profits: Disney+ is doing a lot of the former, in pursuit of the latter. Have feedback for us? Just hit reply - we'd love to hear from you! TOGETHER WITH [Sponsor Logo](   The fast food industry is in a state of flux, with consumers balking at higher prices on the menus of some of the biggest names in the game. Yesterday, Pizza Hut and KFC both [reported]( that same-store sales had fallen. That followed industry giant McDonald’s, which hasn't had the smoothest start to the year so far, last week reporting that [same-store sales had dropped]( 0.7% too — the first decline since 2020. The Big Mac But, even with huge shifts in consumer behavior, when it comes to McDonald’s, America just can’t help lovin’ it. Indeed, in Monday’s [QSR 50 report](, a comprehensive annual ranking of US fast food chains, McDonald’s held onto the top spot thanks to its 13,457 outlets pulling in total sales of more than $53 billion last year. Now, McDonald’s is embracing affordability — harking back to [the success of the iconic “Dollar Menu”]( — by doubling down on its $5 meal deal to lure back customers, mentioning the word "value" more than 90 times in its Q2 earnings call, per Edward Moreno. No small fry While no fast food outlet comes anywhere close to McDonald’s for revenue — Starbucks, at the No.2 spot, made only $28.7 billion in sales last year — some still surpass the chain for sheer efficiency. None more so than Chick-fil-A. Known for its focus on [customer service]( and long [drive-thru lines](, Chick-fil-A has 10,905 fewer units than McDonalds but manages to bring in a massive $8.5 million on average at each of its outlets — more than double the takings at an average McD’s. On the other hand, Subway, which secured the largest [franchise-backed bond]( ever for its buyout back in May, only brings in ~$490,000 from each of its mind-boggling 20,000+ units. For how much longer Subway will retain its store count supremacy, however, is another matter. Footlongs and farewells Last year, the “Eat Fresh” chain’s US store tally fell by almost 450 locations, as the sandwich giant shut more American restaurants than it opened for the 8th year in a row. Although that drop was actually the least steep it’s been [since 2016](, it was still nearly 200 more closures than second place Burger King. At the other end of the table, a few restaurants that aren’t yet household names are growing rapidly. Jersey Mike’s — a sub rival that’s gained traction with a simple set of sandwiches that spotlight the freshness of their meats and cheeses — is expanding at breakneck speed, adding 287 units last year. Chicken connoisseurs Wingstop also added more than 200 restaurants, and Gen Z’s increasing love for Tropical Smoothie Cafe, which mostly sells what its name suggests, has driven the chain to [report]( its 12th straight year of positive same-store sales growth. Starbucks, meanwhile, was also closing the gap on Subway again last year, taking the fastest-growing fast food chain crown for the second year in a row by adding some 473 stores nationwide in 2023 — proving US expansion to be a pretty significant part of the chain’s efforts to open the equivalent of 8 stores around the world every single day [until 2030](. [Read this on the web instead](   [Sponsored by RAD AI]( Buy opportunity: AI marketing tech with traction With market volatility comes opportunity. We believe AI is here to stay… and [RAD AI is capitalizing on the demand]( within the creator economy. The strategy? Buyouts of small-to-medium agencies that can benefit from RAD’s proprietary AI technology, marking a new phase of growth. RAD AI’s tech is proven and working. [Revenue increased 3X over the last 12 months](, with up to 3.5X ROI delivered for various Fortune 1000 clients. With game-changing tech and renowned brands in RAD’s roster, investors are seeing the upside potential. RAD has already raised $28M from VCs, partners, and 7000+ investors including execs from Google, Snap, Amazon, and Meta. [Accredited investors can get in now at $0.396 with a 10% discount.* Today, 8/7 is the last day at the current share price.**]( [Accredited investors can get in now at $0.396 with a 10% discount.* Today, 8/7 is the last day at the current share price.**](   After burning billions of dollars, Disney’s streaming unit is finally profitable, reporting $47 million of operating income, after the company introduced a series of price hikes which made binging episodes of The Mandalorian, Bluey, and The Bear increasingly expensive. The quarterly figures came just a day after Disney announced yet another raft of [price rises]( across many of its most popular standalone and bundle packages. As of October 17, most Disney+, Hulu, and ESPN+ plans will increase by $1-$2 each: Disney+ with ads, for example, is going up from $7.99 to $9.99 a month, a whopping 25% rise, while the ad-free version will increase from $13.99 to $15.99. The company was hoping for nearly a quarter of a billion Disney+ subscribers by the fall of 2024. It’s settling for more profits instead. Indeed, Disney's looking to cash in on the trend of rising subscription costs in the wider streaming world, just as investors begin to feel that corporate America’s ability to hike prices elsewhere might finally [be fading](. The fact that the Disney+ subscriber count, having fallen in recent years, was steady this quarter — thanks in part to the success of the Inside Out franchise, which drove new subscribers looking to watch the first installment — suggests that the majority of customers aren’t yet pulling the plug on Disney’s streaming offering. This latest round of price rises could be the final straw. Related reading: How steadily rising subscription prices are [boiling consumers like frogs](. [Read this on the web instead](   More Data - Japanese motor company Nissan unveiled a ‘[cool paint](’ for its cars on Tuesday, developed to refresh drivers by lowering interior temperatures by 9°F. - Skyscraped: A 23-story, 920,000 sq ft office building in Midtown Manhattan sold at a 97.5% discount in an online auction, fetching just $8.5 million per the [NYT](. - Airbnb shares dropped 14% in after-hours trading on Tuesday, following a disappointing Q2 report that saw the company miss earnings expectations as fewer people booked [trips in advance](. - Eight years ago, a trademark lawyer sold the domain ClintonKaine.com for $15,000… now, he's got [HarrisWalz.com]( too, having paid $8.99 for the URL back in 2020. - Throne off: The season 2 finale of House of the Dragon on Sunday night garnered a series-high 8.9 million viewers worldwide… but not without drawing [criticism]( from fans. [RAD AI is a startup with traction](, using its proprietary AI tech to execute strategic buyouts of small-to-medium branded content agencies. RAD’s 7000+ investors include execs from Google, Snap, Amazon, and Meta — and accredited investors can get in at a [discounted share price of $0.396*](. Ad   Hi-Viz - Show of force: See which Star Wars characters get the most [screen time]( in each movie. - Should you “buy the dip” after stocks sink? [50+ years of evidence in 1 chart](. Off the charts: What are America’s 3 favorite federal agencies? [Answer below]. Hints: - Green space agency (founded 1916) - Drop “green”^ (founded 1958) - Always delivers (founded 1971) [Answer here.](   Thanks for stopping by! Have some [feedback](mailto:daily@chartr.co?subject=Feedback&body=Hi, I like the newsletters, but I had a thought for you...) or want to [sponsor this newsletter](mailto:advertising@sherwoodmedia.com?subject=I’m interested in advertising with Sherwood Media)?   Not a subscriber? 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