Boneless Wings #29

**NOTHING HERE SHOULD BE CONSIDERED INVESTMENT ADVICE**

Good morning to all my wingmen and wingwomen out there. Here are a few noteworthy and tasty bites worth digesting. Enjoy!

There are over 221 million subscribers globally that pay for the ability to Netflix and Chill. That’s more so than any other streaming platform across the world. But Netflix acknowledges that many more people utilize their service due to password sharing……up to ~33% more people in fact!

The problem is that Netflix encouraged everyone to password share as a “true act of love” in 2017. Now they are trying to figure out how to charge for that act of love.

The company is testing out (in Chile, Costa Rica, and Peru) whether charging customers who share their passwords is a good idea or not. Netflix says they’re doing this because it’s “impacting our ability to invest in great new TV and films for our members.”

Maybe stop investing in the 95% of the trash no one watches, and they’ll have more budget (…..boom baby, problem solved!!!)

But what’s in it for Netflix? If successfully rolled out globally they could add an additional $1.6 billion to the top line……assuming everyone doesn’t just cancel their subscriptions and switch to another streaming service. (#WallStreetBets unite!!!)

This whole ordeal has made me realized one thing. There’s a reason drug dealers give out free samples……they know you’ll get hooked! (for any kids reading…..DON’T DO DRUGS!!!)

$25,900,000,000. That’s the total revenue in 2021 for the global recorded music market (…according to the International Federation of the Phonographic Industry), which grew by 18.5% last year….largely driven by growth in paid subscription streaming. And it wasn’t driven in just one location. Recorded music revenues grew in every region around the world in 2021.

Music in general seems to be something everyone can agree upon. Not that everyone loves the same types of music. But the idea that there’s nothing better than hearing the right song at the right moment! Should you find yourself with time to catch up on music in the near future (…..like traveling to a family wedding this weekend!!) then here are some of the Top 10s worth noting...

Top 10 global artists:

• BTS

• Taylor Swift

• Adele

• Drake

• Ed Sheeran

• The Weeknd

• Billie Eilish

• Justin Bieber

• Seventeen

• Olivia Rodrigo

Top 10 global digital singles:

• The Weeknd “Save Your Tears” (2.15 billion streams)

• The Kid Lario, Justin Bieber “Stay” (2.07 bn)

• Dua Lipa “Levitating (1.88 bn)

• BTS “Butter” (1.76 bn)

• Olivia Rodrigo “Drivers License” (1.73 bn)

• Justin Bieber (ft. Daniel Caesar and Giveon) “Peaches” (1.72 bn)

• The Weeknd “Blinding Lights” (1.61 bn)

• Olivia Rodrigo “Good 4 U” (1.61. bn)

• Lil Nas X “Montero” (1.6 bn)

• Ed Sheeran “Bad Habits” (1.57 bn)

Top 10 albums: 

• Adele “30”

• Olivia Rodrigo “Sour”

• Justin Bieber “Justice”

• Ed Sheeran “=”

• The Weeknd “After Hours”

• Dua Lipa “Future Nostalgia”

• The Kid Laroi “F— Love” (mixtape)

• ABBA “Voyage”

• Morgan Wallen “Dangerous: The Double Album”

• Doja Cat “Planet Her”

Top 10 selling vinyl titles:

• Adele “30” (862,000 global units)

• Harry Styles “Fine Line” (397,000)

• Fleetwood Mac “Rumours” (346,000)

• Olivia Rodrigo “Sour” (339,000)

• Billie Eilish “Happier Than Ever” (335,000)

• Taylor Swift “Red (Taylor’s Version)” (325,000)

• The Beatles “Abbey Road” (283,000)

• Nirvana “Nevermind” (274,000)

• Pink Floyd “Drk Side of the Moon” (272,000)

• Taylor Swift “Evermore” (270,000)

For our last story today, I want to highlight something from last week that we missed to report on. And given the industry we are a part of, the industry that has given us so much, I just could not neglect this news.

As of early last week, Charlie Morrison announced his retirement. That’s right, Wing Stop’s Top Chef (……no idea if he can cook or not. If I’m a betting man, I say nah.) resigned from his post after serving as CEO for ten years. He’s leaving the Dallas-based wing chain to take the helm at a drive-thru salad concept called Salad and Go (…..sounds so lame!)

We last spoke about Wing Stop in Boneless Wings #7, regarding their Q4 performance and the momentum they were building with their digital sales. Given Charlie’s contribution to the overall Wing community, I feel like we should send him out with a bang. Here are worthy contributions he’s made since leading the storied wing franchise…..

• Successful took the company public through IPO in 2015

• Grew the business from 533 stores when he stepped in as CEO to more than 1,700 stores globally today.

• With a computer science background (#nerd) he brought laser-focus (#buzzword) to the company’s digital transformation.

• Even through the pandemic, Wing Stop saw sales growth over 21%.

• The chain has posted 18 straight years of positive same-store sales growth (the last 10 with him at the top).

The reigns are now being handed over to colleague Michael Skipworth. We hope Skippy doesn’t take his new role lightly. The decisions he makes will have an impact on the wider wing community.  

Deuces. ✌️