Three Things (7/11)

1) Job growth accelerates: Payrolls beat expectations and increased by 372,000 in June despite looming fears of a recession. The job gains come as GDP fell 1.6% in Q1 and as inflation continues to rise. The unemployment rate held steady from May at 3.6%.

Titan's Takeaway: Despite a Fed intent to raise rates to curb inflation, labor appears surprisingly resilient. If anything, the Fed may take June's employment numbers as even more reason to continue a policy of rate hikes to cool down the economy.

2) Streaming to scoop NFL Sunday Ticket: NFL Commissioner Rodger Goodell confirmed rumors that the NFL Sunday Ticket will leave DirectTV for a streaming service after the 2022 season. Amazon, Disney, and Apple are all vying for a chance for the all-access TV package, which DirectTV has held since 1994.

Titan's Takeaway: Live sports are the last real holdover of linear television. Securing the NFL's flagship out-of-market viewing package could be the final key to unlocking sports from the network's clutches.

3) Universal Music inks deal with Mdundo: The new deal will pair the world's most extensive streaming company with the African-focused streaming service. Mdundo, which services markets in Nigeria, Kenya, and other African countries, claims that the new deal will boost its current offering to its 17 million active users.

Titan's Takeaway: The jostling for market share continues as there are now over 20 music streaming services across Africa, including Spotify. Establishing licensing partnerships is especially important considering the potentially massive African market of over 1.2 billion people.