On a per stream basis, Peloton blasting your favorite song during a workout supports the artist who made it more than clicking play on the top music streaming services.

Peloton pays musicians $0.03 per stream. Neither Spotify nor Apple Music pays even one full cent, respectively doling out $0.0035 and $0.0068 per stream.

Slate, citing Trichordist’s most recent “Streaming Price Bible,” reported that while Peloton pays musicians more for songs, it accounts for less than 1% of global streams and 1.28% of industry revenue.

As Peloton continues to grow, it repeatedly prioritizes music through collaborations with artists and music-driven entities.

• It partnered with Beyoncé last year to create themed workout experiences.
• Peloton presented a three-day virtual music festival at the beginning of July with acts ranging from Nas to Depeche Mode.
• The company partnered with Verzuz, a music competition venture, in March.

It hasn’t always been a smooth ride. In 2019, Peloton faced lawsuits for over $300 million in damages for the use of unlicensed songs in classes. The company spent at least $31.1 million to settle, per SEC filings.

Peloton’s payments for music royalties and streaming delivery increased by $81.5 million year-over-year for the nine months ending March 31, 2021.

David Tepper, owner of the Carolina Panthers, is the founding investor of Andalusian Private Capital, a firm with roughly $800 million in assets that plans to invest in the media and sports sectors, among others. 

Tepper currently has the highest net worth of any NFL team owner: $14.5 billion.

• In 2019, he agreed to pay $325 million to bring an MLS franchise to Charlotte. Charlotte FC is expected to begin play next year at Bank of America Stadium.
• He was also part of a $1.78 billion financing round for “Fortnite” creator Epic Games.

Nearly 30 years ago, Tepper founded Appaloosa Management, an American hedge fund specializing in distressed debt. A number of other billionaire sports team owners share his interest in private equity.

New York Mets owner Steve Cohen created his first private-markets fund, Point72 Hyperscale, in 2020. Tony Ressler, owner of the Atlanta Hawks and minority owner of the Milwaukee Brewers, co-founded Apollo Management in 1990 and Ares Management in 1997.

For opportunities beyond direct investments, Andalusian created an affiliate called Andalusian Sports Partners that houses advisory and management services for “certain sports-focused investment funds.”

Bally’s acquired the Association of Volleyball Professionals on Tuesday, continuing its unbridled expansion.

The conglomerate has been buying up all types of companies lately.

• It purchased SportCaller in February and plans to use the free-to-play sports game provider to launch its own games. 
• That same month, Bally’s acquired Bet.Works for $125 million. The sports betting platform operates in Colorado, Iowa, Indiana, and New Jersey. 
• It agreed to acquire online gaming operator Gamesys in March for $2.7 billion.

Over the past year, Bally’s has also been named an official sports betting partner of the NBA, MLB, and the NHL, signing multi-year deals with the three leagues. 

The AVP is the longest-running and most famous beach volleyball tour in the U.S. but has experienced ups and downs. The organization was bought out of bankruptcy by Donald Sun for $2 million in 2012 after annual revenue reached nearly $25 million in 2008. 

Bally’s will work with the AVP to help gamify beach volleyball for its sports betting business, as well as drive new viewers to its platforms.

Bally’s inked a 10-year, $85 million deal with Sinclair Broadcast Group last November and rebranded 21 regional Fox Sports channels under the Bally’s name. 

The Tokyo Olympics won’t have spectators and that could cost reinsurers up to $400 million in payouts for ticket and hospitality refunds, according to Fitch Ratings. 

After a COVID-19 outbreak and a fourth state-of-emergency declaration, the Japanese Olympic Committee said that no fans, foreign or domestic, will be allowed to attend. 

The total insurance coverage for the Games that begin on July 23 is estimated to be around $2.5 billion. 

• Broadcasters have taken out $800 million of coverage.
• The International Olympic Committee and local host committee took out $1.4 billion.
• Other parties, such as individual teams and sponsors, took out another $300 million. 

Approximately 600,000 tickets were sold to international fans, with around 68,000 American anticipated. Total ticket revenue was expected to reach $815 million.

There has been an abundance of refund requests — some reaching more than $10,000 — from fans who purchased tickets years ago.

CoSport, the exclusive rights holder for Olympic ticket sales in the U.S., will not refund a 20% handling fee for American fans, adding to the madness.