ResearchThree Things to know (Sept. 22nd)

Three Things to know (Sept. 22nd)

Sep 22, 2020

1. Roku surges 18% after striking deal with NBC’s Peacock streaming service

Roku rose 18% on Monday after announcing on Friday that it had finally reached an agreement to provide NBC's Peacock service on its streaming devices. We believe this signals the growing importance of Roku as a key distribution channel for streaming services, and also may provide a meaningful revenue uplift by way of the advertising partnership that was formed. For more detail, please see the full piece published in the app Monday.

2. Microsoft acquires video game publisher Bethesda for $7.5 billion

On Monday, Microsoft signalled its intent to invest more heavily in its gaming arm after announcing a $7.5 billion acquisition of video game publisher Bethesda. While investors have recently been more focused on what a Microsoft-Tik Tok tie-up might look like, we believe this deal deserves just as much attention given its long-term potential and the rapidly growing gaming market. In the words Microsoft's CEO, the deal is expected to "literally double [Microsoft's] gaming content capacity." We believe that would be a key step in accelerating adoption of Microsoft's Game Pass, which has the potential to develop into the "Netflix of gaming."

3. “Hell to pay” if 7 billion Chuck E. Cheese tickets not shredded

In an unusually quotable bankruptcy court hearing, a Texas bankruptcy court judge declared that there'd be "hell to pay" if $9 million worth of Chuck E. Cheese's tickets were not shredded. The reason? Chuck E. Cheese is paying a whopping $2.3 million for that shredding, which is said to cover a volume of tickets that occupy 65 cargo shipping containers. Chuck E. Cheese was one of many businesses hit hard by the pandemic, and found itself in this unfortunate predicament after having to shutter its locations for months.

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