📺 Warner Max’imizes profits

…and newspapers’ AI quarter (Macall Polay/HBO) Penguin profits   Presented by Hey Snackers, Houston, we have a ballot: even American astronauts aboard the International Space Station [voted]( in this year’s election. Their electronic ballots were relayed by satellite to New Mexico, transmitted to Houston, and finally sent to local county clerks. Yesterday’s quarter-point rate cut was the cherry on top for investors, who kept [juicing up stocks]( after Trump’s win. Bitcoin hovered around its record high of $76K. 🗓️ Booked ’n’ quizzy: Put 2 minutes on your cal to take this week’s [Snacks Seven]( quiz. Try the first q: - Which company will be removed from the Dow Jones after 25 years? ([Check your answer](.)   MAX’D [Warner Bros. scores its first quarterly profit in years as Max becomes a profit puppy]( Earnings from Gotham… Shares of Warner Bros. Discovery surged 12% yesterday after the media titan dropped streamy Q3 earnings. While its sales dipped 4% in the quarter, the company secured a $135M profit — its first in more than two years. Its Max streaming service drove the surprise earnings, with revenue jumping 8% and a record 7M+ new subs. That helped Max notch higher ad sales and boost revenue per user. - Maximized: Warner said fans of hit shows “House of the Dragon” and “Last of Us” have tuned in to its new series, “The Penguin,” whose premiere racked up 10M+ viewers. - Warner’s movie biz didn’t sparkle: Theater revenue sank 40% after “Beetlejuice Beetlejuice” and “Twisters” fell short at the box office (last year it had “Barbie”). Still watching… Streamers have been turning their first profits by hiking subscription prices and tapping into ad revenue. In January, Amazon began sticking ads into Prime Video and recently announced that more ads were coming (unless you pay extra for its ad-free tier). In August, Disney’s streaming biz (Disney+, Hulu, and ESPN+) turned its first profit a quarter earlier than expected. Paramount’s streaming unit (Paramount+, BET+, and Pluto TV) also notched its first profit in Q2 and raised subscription fees. THE TAKEAWAY More places = more faces… With streaming nearly universal in US households, providers are expanding their reach with bundles and partnerships to unlock growth. In September, Warner signed a multi-year deal with Charter (the US’s biggest cable provider) to bundle its streaming services with SpectrumTV Select plans. And Disney and Warner joined forces this year to debut their Disney+, Hulu, and Max discounted bundle. [Read this online](   Presented by RYSE [RYSE and Shine: Don’t Sleep On This Investment Opportunity]( The Smart Home Industry has seen some spectacular exits, yielding impressive returns for early investors. In the past decade, we've seen Nest acquired for $3.2B by Google, and Ring acquired by Amazon for $1B.1 That's helped turn the Smart Home space into a growing billion-dollar industry. Yet one category in this burgeoning industry has eluded adoption - Smart Shades. High prices and complex installation have prevented the mass adoption of smart shades despite their potential benefits, and one company hopes to change that. [RYSE]( is the tech firm aiming to dominate this category (which is growing at an astonishing 23% annually), and their [public offering of shares priced at just $1.75]( has opened. Their products have just launched in over 100 Best Buy stores, continuing their expansion into this billion-dollar industry. [Invest Now before the round closes.](2 Presented by RYSE [RYSE and Shine: Don’t Sleep On This Investment Opportunity]( The Smart Home Industry has seen some spectacular exits, yielding impressive returns for early investors. In the past decade, we've seen Nest acquired for $3.2B by Google, and Ring acquired by Amazon for $1B.1 That's helped turn the Smart Home space into a growing billion-dollar industry. Yet one category in this burgeoning industry has eluded adoption - Smart Shades. High prices and complex installation have prevented the mass adoption of smart shades despite their potential benefits, and one company hopes to change that. [RYSE]( is the tech firm aiming to dominate this category (which is growing at an astonishing 23% annually), and their [public offering of shares priced at just $1.75]( has opened. Their products have just launched in over 100 Best Buy stores, continuing their expansion into this billion-dollar industry. [Invest Now before the round closes.](2   HEADLINE [News earnings show AI deals are paying off for publishers as media fragments]( This just in… On the heels of the election, news companies published their earnings this week. As journalism holds on for dear life (77% of newspaper jobs have disappeared in the past two decades), news companies have tested a variety of alternate revenue streams to keep the lights on. The industry’s tried paywalls, video, podcasts, newsletters (hello), and, most recently, [licensing deals]( with AI companies. How much these efforts are paying off is TBD, but earnings from The New York Times, Wall Street Journal owner News Corp., and Reuters provided some hints. - Wordle’s world: The Times’ digital-subscriber count grew to 11M, though its 260K new subs were below expectations. Still, its ad sales jumped the most in two years, and subscribers to its non-news offerings like Wordle grew 25% from last year. - Walled off: Thomson Reuters said its news revenue grew 10%, boosted by AI-licensing deals. Last month, the outlet added a $1/week paywall to draw steadier $$ from its 50M monthly readers. - Journaling: WSJ parent News Corp. said its media ad revenue fell 5% and it saw a $4M drop in subscription $$. The AI-media handshake… While outlets including The Times and the Chicago Trib [have sued]( AI companies over copyright infringement, other media cos have cozied up to AI. Reuters last month struck a multiyear deal to allow Meta’s chatbot to use its articles to answer user questions. In May, News Corp. signed a licensing agreement with OpenAI said to be worth $250M. Other publishers including Axel Springer (Business Insider), IAC, The Atlantic, and the Associated Press have made similar moves. THE TAKEAWAY News consumption has a new look… Americans are increasingly getting their news from nontraditional sources, and advertisers are following them. A third of 18- to 29-year-olds last year said they regularly got news from TikTok. Podcasters like Joe Rogan had more access to Donald Trump this election season than most legacy media. That fragmentation has news orgs hunting steadier revenue streams like AI. [Read this online](   ON SHERWOOD [Taco Bell, Chili’s, Domino’s, and slop bowls victorious in quarterly American food fight]( The fast-casual dining category is growing, while only outliers in fast food and casual dining are seeing the same growth. [Read more](.   Presented by RYSE [Amazon Bets Big on Smart Homes, You Can Too]( VCs know how difficult it is to spot promising early investment opportunities. Even the Sharks from Shark Tank declined the offer to buy 10% of Ring for $700,000 — a decision they likely regretted when Amazon acquired Ring, turning the $700,000 into $10M!1 [RYSE]( is the smart-home brand hoping to follow a similar trajectory. The founder pitched on Canada’s version of Shark Tank, Dragons’ Den and [received two offers]( - it seems the Dragons saw the potential in RYSE’s smart shades innovation. [Do it like the Dragons - invest now.](2 Presented by RYSE [Amazon Bets Big on Smart Homes, You Can Too]( VCs know how difficult it is to spot promising early investment opportunities. Even the Sharks from Shark Tank declined the offer to buy 10% of Ring for $700,000 — a decision they likely regretted when Amazon acquired Ring, turning the $700,000 into $10M!1 [RYSE]( is the smart-home brand hoping to follow a similar trajectory. The founder pitched on Canada’s version of Shark Tank, Dragons’ Den and [received two offers]( - it seems the Dragons saw the potential in RYSE’s smart shades innovation. [Do it like the Dragons - invest now.](2   What else we're Snackin' - Steve Madden plans to slash its share of [China-sourced]( products (which make up ~70% of its biz) to prep for possible Trump tariffs on imports. - Budget makeup seller E.l.f. said it’s the top beauty brand among Gen Alpha, Gen Z, and millennials after its Q3 [sales popped]( 40%. - Investors [swiped left]( on Match Group after the Tinder and Hinge owner lost paying daters for the eighth straight quarter. - Australia [pledged to ban]( social media for kids under 16 over mental-health concerns and said it could fine cos that don’t comply. - Stanley rival Yeti [insulated]( its profit in Q3 and posted a 10% sales boost as hydrated shoppers splurged on $300 coolers and rambler bottles. - Household name: With their Smart Shades product on the shelves of 100 Best Buy stores already, RYSE is aiming to become the next big thing in the billion-dollar Smart Home industry. [Learn about investing in RYSE](.2 Ad   Snack Fact of the Day [Meme-coin platform Pump.fun recorded a record $31M in revenue in October](   Friday - Consumer sentiment - Earnings expected from Canopy Growth, Sony, and Paramount Global Authors of this Snacks own bitcoin and shares of: Amazon, Disney, IAC, Match, and Warner Bros. Discovery Advertiser's disclosures: 1 The performance of other companies is not necessarily indicative of the prospective returns of RYSE, Inc. Past performance is not a guarantee of future results. 2 This is a paid advertisement for RYSE's Regulation A+ Offering. Please read the [offering circular]( and [related risks]( at: [SEC website](. Start-up investments are speculative and involve a high degree of risk. Those investors who cannot afford to lose their entire investment should not invest in start-ups. Companies seeking startup investment tend to be in earlier stages of development and their business model, products and services may not yet be fully developed, operational or tested in the public marketplace. There is no guarantee that the stated valuation and other terms are accurate or in agreement with the market or industry valuations. Further, investors may receive illiquid and/or restricted stock that may be subject to holding period requirements and/or liquidity concerns. DealMaker Securities LLC, a registered broker-dealer, and member of FINRA | SIPC, located at 105 Maxess Road, Suite 124, Melville, NY 11747, is the Intermediary for this offering and is not an affiliate of or connected with the Issuer. Please check our background on FINRA's BrokerCheck.   Was this email forwarded to you? Don’t miss out on future stories — [subscribe to Snacks]( and get your daily dose of financial news straight to your inbox. Craving more insights in your inbox? 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