In today’s newsletter we discuss Peloton is making TikToks for millennials who can’t handle a bike ride longer than 60-seconds, Nintendo is coming out with a new Switch 2, Windows is introducing a new AI Copiliot key on the keyboard, Disney can't be happy about the new ‘Steamboat Willie’s’ upcoming horror films, and who knew David Spade was worth enough to buy a beach house in Newport Beach.

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Is Tiger Woods About To Lose His Nike Contract?

Business

Nintendo, sensing an opportunity to wring more money out of their hit franchises Mario, Zelda and Pokemon are planning to launch the Switch 2 console sometime in 2024.

Console sales of their original Switch console has begun to flag, and they are again a fan favorite fresh off the recent hit “The Super Mario Bros. Movie” that raked in more than $1 billion in box office sales since it was released in April 2023.

The first Nintendo Switch launched in March 2017, and has racked up 132.46 million units sold since then.

Nintendo is expected to launch the 'Switch 2' console this year. Here's what to expect

Tech

Stop the virtual presses. Microsoft just made a major change to the keyboard we all know and love.

There hasn’t been a new key added to PC keyboards in almost 30 years since Microsoft added the Windows key.

Now with the launch of Windows 11, Microsoft is launching the new artificial intelligence button that they are calling the Copilot key, which when pressed will be a user’s "entry point into the world of AI on the PC.". 

The Copiliot key will allow users to access AI from within the Microsoft world of software including Microsoft Word, Excel, PowerPoint, Outlook and Teams.

According to Microsoft’s executive vice president Yusuf Mehdi in a press release he said "We believe it will empower people to participate in the AI transformation more easily.”

“This will not only simplify people's computing experience but also amplify it, making 2024 the year of the AI PC.”

We reached out to Apple for comment, but only got back a 1-word response: BFD

No, not really. You think Apple would respond to a small content creator like me?

Microsoft adding new PC button in its first significant keyboard change in decades

Social Media

Peloton is going to begin making TikToks for millennials who can’t handle a bike ride longer than 60-seconds.

Peloton’s sales, and corresponding profits, have been falling ever since the good ‘ole days of the pandemic, and now they’re trying anything they can to boost subscribers, even if that means lowering the bar and trying to attract the fleeting attention of Generation Y.

Some call this generation millennials, or digital natives, or lazy (not my words), but whatever your definition is we can at least agree we’re talking about the generation born between 1982 and 1994.

This comes hot on the heels of Peloton’s rebranding effort that they launched in May of 2023 to become a fitness company “for all”, whatever that is supposed to mean.

Part of that effort apparently means partnering with TikTok “to bring short-form fitness videos and other content to the social media channel” according to CNBC.

They even have a cringy slogan: “#TikTokFitness Powered by Peloton”

Ugh. I feel like I need to wash my mouth out after just saying that verbal diarrhea.

The partnership with TikTok will focus on short-form fitness videos, content from Peloton’s more famous instructors, and they’ll be doing a lot more collaborations with popular TikTok creators.

I feel like companies bringing their branding and messaging to social media shouldn’t even be a news worthy story, but I guess that’s how we do in 2024.

So how did Wall Street react to this non-event?

They piled into Peloton’s stock sending it up 15% after the news was announced.

But that doesn’t change the fact that Peloton still isn’t doing too hot. Peloton’s financials are a mess, and they still aren’t profitable despite having 3.08 million subscribers as of October 2023. In fact, for the 3 months ending Sept. 30 Peloton lost 30,000 members. And what happens when you lose subscribers? Your revenue goes down the toilet, and that’s exactly what happened to Peloton with their revenue falling to $595.5 million, which is down from a high of $757.9 million 3 years earlier at the height of the good ‘ole pandemic (or, at least it was good for Peloton’s sales).

But Wall Street does love a good comeback story. During the Covid-19 pandemic Peloton was a Wall Street darling, probably because we were all stuck at home with nothing to do except buy over-priced bikes that didn’t go anywhere.

Most Peloton subscribers became addicted to watching other out of shape people like themselves try to exercise for the first time in their adult lives, and welcome the incessantly cheerful encouragement of Peloton’s insanely fit instructors like Ben Alldis saying things like “Great things rarely come from sitting in comfort zones.”, or Tobias Heinze who’s internet famous for saying “If your legs are tired, run with your heart!”

What does that even mean?!?!

You know who loves cheesy exercise slogans? TikTok users apparently!

According to Sofia Hernandez, TikTok’s global head of business marketing, she said “We have over a billion users across the globe of all demographics. People from 16 to 60 are on the platform and when I think about [Peloton’s] campaign of ‘anyone and anywhere,’ there’s not a better place to reach that level of audience we have, that level of a diverse audience.”

So Peloton is going all in with TikTok on their marketing campaign. 

Their new TikTok videos will include “‘behind the scenes’ videos such as ‘get ready with me’ clips and other fitness-adjacent content that gives people on TikTok an inside look into Peloton and its instructors.”

The first content they are producing will feature well-known instructors such as Cody Rigsby and Ally Love, and then expand to include less-known B and C-level Peloton instructors, as well as internet famous TikTokers.

Can’t wait for that. No, not really. Wake me up when this rebranding effort is over.

Peloton shares surge 15% as it partners with TikTok to offer short-form fitness classes, other content

Entertainment

All I’m going to say is Disney can't be happy about the new ‘Steamboat Willie’s’ upcoming horror films.

Well, as you probably guessed that’s not all I’m going to say about this.

Let me get you caught up on some background before we get to the news.

In the U.S. a copyright can be held for 95 years from the date it is issued. You have to go back to January 1, 1929 when Disney’s copyright for ‘Steamboat Willie’ was officially approved.

Then on January 1, 2024 Disney’s copyright for ‘Steamboat Willie’ officially expired, allowing for any number of Mickey-themed content to be created and brought to market; just don’t call the character ‘Mickey Mouse’.

You see, copyright law in the U.S. is complicated. While Disney’s copyright for ‘Steamboat Willie’ has expired, Disney still owns the copyright to the ‘Mickey Mouse’ we know today. That copyright was issued in 1939, which means it won’t expire until 2034. Disney is continuously updating and copyrighting new versions of Mickey Mouse to stay ahead of expiring copyrights.

In 2004, Disney created a 3-D ‘Mickey Mouse’ that is increasingly sweeter-looking and has gotten more rounded over time. This new copyright isn’t set to expire until 2099.

Now that you’re all caught up on U.S. copyright law that brings us to the news that not one, but two new ‘Steamboat Willie’ horror movies are being made right now for release now tha the character has entered the public domain for the first time.

The first movie is entitled “Mickey’s Mouse Trap” and is a live-action film directed by Jamie Bailey. It’s actually already been released, but no need to rush out and try to see it since it’s not even being shown in any theaters yet (that should tell you all you need to know about demand for a ‘Mickey Mouse’ themed horror movie version of everyone’s favorite 1929 mouse. The plot of the movie is as thin as its title, but says the movie “depicts a group of friends who are terrorized by someone in a mask of the smiling rodent at a carnival.” with the movie slogan “The mouse is out”.

Cring!

So hopefully the second ‘Steamboat Willie’ horror film is better than the first. Ops!

I spoke too soon. The second movie is slated to start filming in Spring of 2024, and the director Steven LaMorte shared that “Steamboat Willie has brought joy to generations, but beneath that cheerful exterior lies a potential for pure, unhinged terror. I can’t wait to unleash our twisted take on this beloved character to the world.”

So much for compelling plots.

My guess is Disney probably isn’t very worried about either of these movies using the expired copyright of ‘Steamboat Willie’.

If I were those two directors I’d be more worried that no one will want to see my movies.

‘Steamboat Willie’ Horror Film Announced as Mickey Mouse Enters Public Domain

Real Estate

A good title for this story would be “Who knew David Spade was worth this much?”

David Spade, not known for having ever acted in a single serious movie role IMO, recently dropped $9 Million on a 3,800 square foot, 4 bedroom, 4.5 bathroom contemporary beach house complete with an infinity pool and ocean views for $9.5 Million dollars with a capital M!

Not bad for a standup comedian known for being the butt of more serious A-list actors.

The beach pad is located in the Cameo Highlands community in Newport Beach’s Corona Del Mar neighborhood, which is about an hour south of Los Angeles by chauffeured car, because if you can afford this kind of house you’re probably not driving yourself around like the rest of the normals.

This isn’t even David Spade’s only multi-million dollar California mansion. 

In 2021 David Spade bought a 11,300 square foot, 6 bedroom, 9.5 bath mansion with a 3-story elevator, wine cellar, gym, movie theater, and a scenic backyard complete with an outdoor living room, swimming pool and spa on just under half an acre for $13.85 million in the Hollywood Hills just above L.A.’s bustling Sunset Strip.

His new beach house does come with a state-of-the-art solar panel system, so at least the played out actor can claim to be environmentally friendly.

David Spade’s net worth is estimated to be around $80 million dollars as of 2023.

Not bad for a comedian whose last movie was about an animated vampire who has a soft spot for his human son-in-law and late fanger grandson (that’s a lame Hotel Transylvania reference if you didn’t get it. I’ve got kids and we’ve watched those movies too many times to count.)

David Spade Drops $9 Million on an All-New SoCal Beach Getaway

So much news, so little time. Until tomorrow we’re signing out.

— Chris