This GIF shows it all. Valuations for subscription-based companies have collapsed. So what comes next for them? We assembled reams of data to create the 2022 Lazard Subscription Economics Report. Email ser@lazard.com to get the full, 32-page version.
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Dennis K. Berman
@dkberman
Lazard Managing Director.
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First on CNBC! The future of the media - and much else in our world - is all about the subscription. We dug deep into the traits and virtues of these businesses to produce the 2022 Lazard Subscription Economics Report. Email ser@lazard.com to get the full, 32-page version.
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Talk about changing the channel 
@Lazard Managing Director @dkberman says streamers will have to figure out new ways to do business after compiling new data showing consumers are spending less on subscriptions.
@Lazard Managing Director @dkberman says streamers will have to figure out new ways to do business after compiling new data showing consumers are spending less on subscriptions.
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The future of the media - and much else in our world - is all about the subscription. We dug deep into the traits and virtues of these businesses to produce the 2022 Lazard Subscription Economics Report. Email ser@lazard.com to get the full, 32-page version.
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With their stocks down 70%, where do companies in streaming, fitness, audio and news go from here? Lazard's 2022 Subscription Economics Report is a deep 32-page study of the subscription world. Email ser@lazard.com for the full deck. (And check out these 2021 and 2022 charts.)
The future of the media - and much else in our world - is all about the subscription. We dug deep into the traits and virtues of these businesses to produce the first-ever Lazard Subscription Economics Report. Email ser@lazard.com to get the full, 32-page version.
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The future of the media - and much else in our world - is all about the subscription. We dug deep into the traits and virtues of these businesses to produce the first-ever Lazard Subscription Economics Report. Email ser@lazard.com to get the full, 32-page version.
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The coronavirus seems to be grinding the world to a fearful, lonely halt. It's at times like these when it helps to read the great C.S. Lewis speech titled "Learning In War-Time." Delivered weeks after the start of WWII, it inspires us to keep going.
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Meet the "shareholder vocalists" -- the cranky backup singers to the showy shareholder activists -- who are changing how companies are run forever. My column in today's Financial Times:
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The most lasting lesson of the #FinancialCrisis isn't about finance, or even about crisis. It's about control. And what it feels like to lose it.
linkedin.com/pulse/you-dont
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"You Don't Understand. The Money Is Going to Stop Coming Out of the ATMs"
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Congratulations to new WSJ editor-in-chief . A newsman of impeccable judgment, sensibility and writing talent. He is a carrier of the Wall Street Journal spirit and will be great at his new post.
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Now the good news: The U.S. economy has been waiting 10 years for big companies to make investments in software, factories and equipment. It’s finally happening.
Via
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Still the single most important - and least discussed - chart in economics and politics today.
Via .
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These numbers are stunning.
Just 10 shareholders now control a full 31% of the S&P 500’s $24 trillion in total market cap.
lazard.com/perspective/la
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The most important chart in America today.
Health-care and pension costs are eating state budgets alive.
In other words, there is a war for resources between The Old and The Young.
Guess who is winning.
wsj.com/articles/why-a
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The Wall Street Journal () is and will remain the world's best news organization.
Dogged but not doctrinaire. Fair but not retiring. Self deprecating and not self-obsessed.
Thanks to all those who came before. And to those who will carry it on anew.
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I've got an incredible new job at . The best part so far? My unopened emails have gone from 146,579 to........0.
businesswire.com/news/home/2018
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Terrible, terrible day in the markets. And yet there have been more than 100 days worse. Do you remember the wreckage of August 10, 2011? Probably not.
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Today’s Dow -4.6% plunge is large and concerning. But it is percentage - not points - that matters. And on that basis, today does not make the Top 25 of worst Dow days.
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Before you lose your mind about the stock market, take in the bigger picture: The 1-year chart of the Dow.
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The future -- and all of its clashing, society-changing complexity -- is NOW.
Teamster drivers demand that UPS prohibit drones and driverless trucks as part of new contract.
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This is an end of a long and glorious era of American industrial might.
The CEO of General Electric just said he is examining a break up of GE.
$GE
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Don't think smartphone addiction is a public health crisis?
Two big Apple investors have begun a campaign against the company, saying its not doing enough to prevent childhood phone addiction.
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DOW 25,000!
The full tally since 1896:
Adjusting for inflation and re-investing dividends, the Dow yields an annual return of:
6.882%
Not bad.
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The World Fracking Created...
1991: United States goes to war to protect Saudi Arabia's oil fields.
2017: Saudi Arabia comes to Texas to buy United States oil fields.
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Why is the U.S. coal industry never coming back?
Because fracking killed it first.
on.wsj.com/2j5LQho
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Money mania, 2017. The moment when Grandma interrupts games of poker to check on the price of Bitcoin.
wsj.com/articles/bitco
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What are the investment returns on Da Vinci’s “Salvator Mundi”?
Original 1519 price: About $454,600
Duration: 498 years
Annual return: 1.9%
2017 sale price: $450,312,500
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Why is General Electric ($GE) cutting its dividend in half?
It's more profitable being a bank than actually making things.
China is better at building high-value products.
Economic growth around the world has been slow for 10 years.
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Biggest business news of the day: Original "hot yoga' pioneer Bikram Yoga has filed for bankruptcy amid avalanche of sexual-harassment payments.
on.wsj.com/2hkcSQu
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Want to make great art about finance? Write an opera about quantitative easing - not a drama about Michael Milken.
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$1,000,000,000,000.
It seems an inevitable moment of 2018.
Apple will be Earth's first trillion-dollar company.
on.wsj.com/2lJbBI1
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The most incredible statistic I've read this year:
Amazon will control 43.5% of all e-commerce sales in 2017.
wsj.com/articles/amazo
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CVS buying Aetna for $66 billion? Crazy! Until you realize the deal is a reaction to that looming thing:
Amazon.
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Yes, your corner drugstore may soon own your health insurer. Big WSJ scoop: CVS in talks to buy Aetna in $50 billion+ deal.
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This is the single most important chart to understand about investing. You cannot beat the market. It beats you. on.wsj.com/2xnMYC8
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Jeff Immelt's final report card, 16 years and 25 days since taking over as CEO of General Electric. ($GE stock -40%, S&P 500 +123%)
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The moment has arrived.
Goldman Sachs is exploring how it can start trading Bitcoin.
Exclusive via
wsj.com/articles/goldm
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For a Louisville basketball fan, this is what absolute, drool-in-the-gutter rock bottom feels like.
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