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Earnings call transcript: Argan’s Q1 2027 earnings surpass forecasts with 78% EPS surprise

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Earnings call transcript: Argan’s Q1 2027 earnings surpass forecasts with 78% EPS surprise

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Buc-ee’s opens first Arizona location as chain plans 15 new travel centers

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Buc-ee's opens first Arizona location as chain plans 15 new travel centers

Buc-ee’s is fueling up for a larger national expansion, with 15 additional travel centers in the pipeline as the Texas-based chain pushes its empire farther beyond its home state.

The company opened its first Arizona location on Monday in Goodyear, a suburb of Phoenix, marking Buc-ee’s first stop in the Grand Canyon State and giving road-trippers another supersized destination for fuel, snacks and the chain’s famously clean restrooms, according to USA Today.

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The 74,000-square-foot travel center features 120 fuel pumps and will operate 24 hours a day, 365 days a year. The store is expected to create more than 200 jobs, and city officials said as many as 40,000 vehicles could visit during opening day and the following week, the outlet reported.

BUC-EE’S SET TO DEBUT IN 6 NEW STATES IN MAJOR EXPANSION PUSH ACROSS US

The iconic Buc-ee's convenience store sign

Buc-ee’s has 15 additional travel centers in the pipeline as the Texas-based chain pushes its empire farther beyond its home state. (Getty)

“We could not have picked a better location for our first store in the Grand Canyon State. Perfectly placed for our road-trippers headed out to California or coming in for the destination-rich Phoenix area, Goodyear will be the place to stop,” Stan Beard, director of real estate development at Buc-ee’s Ltd., said in a statement.

Buc-ee’s, founded in 1982, has grown from a Texas roadside favorite into one of the state’s most recognizable exports. The chain now has 56 locations across 13 states.

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More openings are already on the calendar for 2026. A Buc-ee’s spokesperson confirmed to FOX Business upcoming locations in San Marcos, Texas, on Aug. 12; Benton, Arkansas, on Aug. 17; and Murfreesboro, Tennessee, on Nov. 16.

BELOVED BUC-EE’S CONVENIENCE STORE CHAIN FACES CUSTOMER SERVICE CRISIS AFTER DEVASTATING ‘F’ RATING

Visitors shop for brisket sandwiches at the first Buc-ee's to open in Virginia

The chain now has 56 locations across 13 states. (Valerie Plesch/For The Washington Post via Getty Images)

The company’s website also lists several planned locations but does not specify exact opening dates. 

Six are expected in 2027: Ruston, Louisiana; Kansas City, Kansas; Gallaway, Tennessee; St. Lucie, Florida; Boerne, Texas; and Monroe County, Georgia.

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Two more locations are listed for 2028: Mebane, North Carolina, and Lafayette, Louisiana.

WILDLY POPULAR GAS STATION BUC-EE’S TO OPEN FIRST-EVER LOCATIONS IN NEW STATES THIS SUMMER

Customers shop for apparel inside of the Buc-ee's convenience store on June 12, 2024 in Luling, Texas.

Buc-ee’s, founded in 1982, has grown from a Texas roadside favorite into one of the state’s most recognizable exports. (Brandon Bell/Getty Images)

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Additional stores are planned for 2029 and beyond, including Ocala, Florida; West Memphis, Arkansas; Oak Grove, Kentucky; and Hardeeville, South Carolina, which is listed for 2031.

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Earlier this year, the company opened its first Ohio location in Huber Heights, according to FOX 8 News.

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May PCE: Fed’s favored inflation gauge accelerated in May

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May 2026 CPI inflation: BLS report shows consumer prices rose last month

The Federal Reserve’s preferred inflation gauge rose in May as price pressures persist in the wake of the energy shock caused by the Iran war.

The Commerce Department on Thursday reported that the personal consumption expenditures (PCE) index rose 0.4% on a monthly basis in May and is 4.1% higher than a year ago. 

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The monthly figure came in slightly cooler than the expectations of economists polled by LSEG, who predicted a 0.5% rise, while the annual figure was in line with the estimate.

Core PCE, which excludes volatile measurements of food and energy prices, was up 0.3% on a monthly basis and 3.4% from a year ago. Both figures were in line with expectations.

FEDERAL RESERVE LEAVES INTEREST RATES UNCHANGED AS WARSH ERA BEGINS

Federal Reserve policymakers are focused on the PCE headline figure as they try to bring inflation back to their long-run target of 2%, though they view core data as a better indicator of inflation. Compared with April’s readings, headline PCE rose from 3.8% to 4.1%, while core PCE increased from 3.3% to 3.4%.

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Goods prices were up 2.3% in May from a year ago, and were up 0.4% from the prior month.

Services prices rose 2% compared with a year ago, and were up 0.5% on a monthly basis in May.

US ECONOMY GREW AT 2.1% IN FIRST QUARTER

The personal savings rate as a percentage of disposable personal income was 3% in May, a level that was unchanged from the prior month.

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Since the start of 2025, the personal savings rate has declined from a peak of 5.5% in April 2025, and it began this year with a 4.4% reading in January.

A man getting fuel at a gas station

The energy price shock caused by the Iran war has helped drive inflation higher. (Ariana Drehsler/Bloomberg via Getty Images)

What experts are saying

Heather Long, chief economist at Navy Federal Credit Union, said that, “Inflation is at a 3-year high due to the war in Iran and it’s painful for middle-class and moderate-income Americans.” 

“People are spending more on gas, along with healthcare and utilities. New Fed Chair Kevin Warsh has made his commitment clear to bring inflation down,” Long said. “The key will be how much relief happens by September. In encouraging news, jobless claims remain low and the personal savings rate ticked up slightly in May.”

AMERICANS GROW MORE PESSIMISTIC ABOUT FINANCES AS RENT AS FOOD COST FEARS SURGE, FED SAYS

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Shoppers looking at grocery prices

Americans’ household budgets are strained by elevated inflation. (Justin Sullivan/Getty Images)

Ellen Zentner, chief economic strategist for Morgan Stanley Wealth Management, noted that “Sliding oil prices will take a while to work their way through the economy.”

“Today’s data is a reminder that inflation remains well above target and growth remains solid. This will keep the Fed on hold for quite some time, until conditions allow for a cut,” Zentner added.

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Jeffrey Roach, chief economist at LPL Financial Research, said that, “Given the growth trajectory, the Fed is rightly focused on price stability and will remain hawkish this summer.”

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“If the Iran crisis creeps into Labor Day timeframe, we have a much higher chance that inflation pressures will seep into other categories and will force the Fed’s hand,” Roach said.

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IBM hails new 'block of flats' design breakthrough for ultra tiny chips

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Researcher holding IBM's sub-1 nm node chip

IBM says it has created the world’s first known chip tech below 1 nanometre – but it will be some time before it’s ready for production.

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Gousto to close Lincolnshire warehouse, with 290 jobs at risk

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The white Gousto logo on a red background on a mobile phone

A company that sells meal kits is to close its Lincolnshire warehouse, putting 290 jobs at risk.

Gousto said it would shut its Clay Lake unit, near Spalding, and centralise the production of its food boxes at one site in Cheshire to reduce costs.

The firm said it had heavily invested in its Warrington facility, where about 600 people work.

It also said running two warehouses was no longer efficient and was leading to duplication.

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Founder and chief executive Timo Boldt said the closure was “an incredibly difficult proposal given the impact on our colleagues in Clay Lake, who have contributed enormously to Gousto’s journey over a number of years”.

“In a highly competitive food market, it is however essential that we operate as efficiently as possible so that we can continue to invest in our proposition and keep prices as low as possible for customers,” he said.

“Our focus now is on supporting people through this process with care, respect and practical help.”

The BBC has contacted the company for a response.

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US economy grew at 2.1% in first quarter

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US economic growth revised lower in final fourth quarter reading

This is a developing story about the final reading of U.S. first-quarter GDP. Please check back for updates.

The U.S. economy grew at a faster pace than expected in the first quarter, according to the Commerce Department’s estimate.

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The Bureau of Economic Analysis (BEA) on Thursday released its final reading of first-quarter GDP, which showed the economy grew at an annualized rate of 2.1% in the three-month period including January, February and March. 

An aerial view of shipping containers at the Port of Houston

The Commerce Department released its final estimate of first-quarter GDP on Thursday. (Brandon Bell/Getty Images)

That figure was higher than the expectations of economists polled by LSEG, who had estimated 1.6% GDP growth in the first quarter. The figure was initially estimated at 2% before it was lowered to 1.6% in the BEA’s first revision.

US ECONOMY GREW AT 0.5% IN FOURTH QUARTER

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Lifezone Metals: The Asset Quality Is Real, But Binding Financing Terms Have Not Arrived

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Lifezone Metals: The Asset Quality Is Real, But Binding Financing Terms Have Not Arrived

This article was written by

I am an individual investor who is now fully focused on managing my own capital. My investing background focuses on value investing with an emphasis and interest in small to mid-cap stocks. I believe history often repeats itself, and investors can gain valuable insights into the future of companies by examining their historical performance and industry peers. By understanding the history of how they got here, meaningful insights can be inferred about where the companies are going in the future. The reason to write on SeekingAlpha is to use this platform as a tracker for my investing ideas, research, performance, and also to connect with like-minded investors who have similar investing interests. I believe clarity of thought can not be obtained without clarity in writing. Putting ideas down on paper helps me refine my thinking and thesis. I tend to write a lot as I look at multiple companies a day and use writing as a tool to track and evaluate my ideas. By writing down all of my ideas it will help me to become a better investor. Although my focus is on small to mid-cap companies, I have an interest in analyzing technology, mining and the retail industry. One area I tend to avoid is biotech, as the industry is highly specialized with technical knowledge requirements and almost impossible for generalists to gain an edge. I hold a degree in accounting, and it has been particularly useful when analyzing companies that are under financial distress (commonly amongst small to mid-cap companies). Evaluating the company’s solvency and ability to continue operations is one of the necessary checks.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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AREH to start life as 1GW green hub, hydrogen plant

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AREH to start life as 1GW green hub, hydrogen plant

One of Australia’s largest planned renewable energy projects will begin life as a 1-gigawatt wind and solar farm feeding power to a future Port Hedland hydrogen site.

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Elon Musk Proposes Humorous Name for Potential AI Regulatory Body Amid Industry Growth

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Illustration shows Elon Musk photo and Twitter logo

Elon Musk, the chief executive of xAI and Tesla, suggested a tongue-in-cheek name for a potential artificial intelligence regulatory authority, sparking discussion about the future of AI oversight as the technology continues rapid advancement.

Musk proposed “AI Associated Institute of America, Inc.” or AIAIAI, pronounced “ay yai yai,” in a post on X. The comment highlighted ongoing debates about how governments should approach regulation of artificial intelligence systems while the industry expands at unprecedented speed.

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The suggestion comes as policymakers worldwide grapple with balancing innovation incentives with concerns about safety, bias, job displacement and potential misuse of powerful AI models. Musk has been vocal about both the opportunities and risks associated with artificial intelligence development.

His companies, including xAI, Tesla and SpaceX, are deeply involved in AI applications ranging from autonomous driving to scientific discovery. Musk’s perspective carries significant weight in technology circles given his track record of ambitious projects.

Context of AI Regulation Discussions

Governments and international organizations have proposed various frameworks for AI governance. The European Union has implemented comprehensive AI regulations, while the United States has taken a more sector-specific approach with executive orders and agency guidelines.

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Industry leaders, researchers and ethicists continue debating optimal regulatory structures. Concerns include ensuring AI systems remain aligned with human values, preventing harmful applications and maintaining global competitiveness.

Musk has advocated for proactive regulation while warning about potential existential risks from superintelligent AI. His proposal for AIAIAI reflects a skeptical view of bureaucratic approaches while acknowledging the need for some oversight.

The humorous acronym plays on the Spanish expression “ay, ay, ay,” often used to express dismay or surprise. This lighthearted tone contrasts with the serious nature of AI governance discussions.

Industry Growth and Challenges

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Artificial intelligence development has accelerated dramatically, with major companies investing billions in computing infrastructure and talent. Models like those powering chatbots, image generators and autonomous systems demonstrate increasing capabilities.

xAI, Musk’s AI venture, focuses on understanding the universe through advanced models. The company’s Grok chatbot aims for maximum truthfulness and helpfulness without heavy content restrictions.

Regulatory uncertainty creates challenges for companies planning long-term investments. Clear frameworks could provide certainty while addressing legitimate safety concerns raised by experts.

International coordination remains difficult as nations compete for technological leadership. Differing approaches risk creating fragmented global standards that complicate compliance.

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Broader Implications

Effective AI regulation could help mitigate risks while preserving innovation benefits. Poorly designed rules might stifle progress or drive development to less regulated jurisdictions.

Public trust in AI systems depends on transparency, safety measures and accountability. Regulatory bodies could play important roles in establishing standards and enforcement mechanisms.

Musk’s comment highlights the tension between rapid technological advancement and governance needs. His companies’ experiences with regulation in automotive, space and social media sectors inform his perspective.

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The AI industry’s growth affects numerous sectors, from healthcare and education to transportation and entertainment. Balanced oversight could maximize benefits while addressing legitimate concerns.

Musk’s Influence on AI Discourse

As one of technology’s most prominent figures, Musk’s statements often shape public and industry conversations. His warnings about AI risks have influenced policy discussions while his companies push boundaries in practical applications.

The AIAIAI suggestion reflects Musk’s characteristic blend of humor and serious commentary. Similar playful proposals have appeared in his commentary on other regulatory topics.

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xAI’s mission to advance scientific discovery through AI represents one approach to beneficial development. The company’s progress will be watched alongside regulatory developments.

Future Regulatory Landscape

Policymakers face the challenge of creating adaptable frameworks for rapidly evolving technology. Agile regulation that can respond to new capabilities may prove more effective than static rules.

International cooperation could help establish consistent standards while respecting national priorities. Organizations like the United Nations and OECD continue facilitating dialogue on AI governance.

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Industry self-regulation through best practices and safety commitments offers another avenue for responsible development. Many companies have signed voluntary agreements addressing key concerns.

The coming years will likely see continued evolution in AI regulation as capabilities advance and societal impacts become clearer. Musk’s commentary contributes to this ongoing conversation about balancing innovation with safety.

As artificial intelligence becomes more integrated into daily life, public understanding and engagement with governance issues will grow in importance. Transparent discussion about benefits and risks helps inform policy decisions.

Musk’s proposal, while humorous, draws attention to the need for thoughtful approaches to AI oversight. The technology’s transformative potential requires careful consideration of how best to guide its development for maximum benefit to humanity.

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Alphabet's Dip Looks Increasingly Hard To Ignore

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Alphabet: Still Not Too Late To Jump On The 16%+ Growth Train (NASDAQ:GOOG)

Alphabet's Dip Looks Increasingly Hard To Ignore

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TikTok, YouTube are reinventing sports viewership

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TikTok, YouTube are reinventing sports viewership
TikTok and YouTube are reinventing how young fans watch sports

As the New York Knicks clinched their first championship in 53 years and the NBA notched its highest Finals series ratings since 1998, professional basketball was inking another record.

The five-game series between the Knicks and the San Antonio Spurs generated “15 billion views and counting on social media, the most ever for an NBA Finals and nearly triple the previous record set in 2025,” according to the NBA. Game 5 alone generated more than 4 billion views on social media platforms, breaking the record set three days prior by Game 4.

It’s emblematic of an intensifying battleground in live sports as professional leagues seek to reach new and younger fans and media consumption shifts online.

TV and streaming platforms have been attracting some of the biggest audiences for live sports this year. The NBA Finals series claimed an average of 20.6 million viewers per game on Disney’s ABC and ESPN networks.

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And yet social platforms like TikTok and Google’s YouTube are claiming a disproportionate amount of viewing time for Generations Z and Alpha — often at no cost. That’s left the sports leagues and live rights holders weighing whether to go all in on social as a funnel for future audiences or to reinforce the walled garden of subscription programming to offset rising broadcast fees.

New York Knicks fans gather outside of Madison Square Garden before Game 4 of the NBA Finals between New York Knicks and San Antonio Spurs, on June 10, 2026 in New York City.

Adam Gray | Getty Images

“It’s always a question of what the leagues are doing versus what the rights holders want to do,” said Jonathan Miller, a former Fox Corp. and NBA executive who currently serves as chief executive of Integrated Media, which specializes in digital media investments.

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“Reaching and cultivating the youth sports base is a major priority and focus of the leagues themselves,” Miller said. “In today’s fragmented landscape, it is no longer a luxury to have a young base, it is a necessity to ensure a healthy future.”

New fans, new ways to watch

For years YouTube has snagged the biggest share of streaming viewership, according to Nielsen’s monthly report known as “The Gauge.”

Rather than watching live games in their entirety, consumers are increasingly watching sports clips, highlights, athlete-made videos and creator content on social platforms.

According to S&P Global’s 2025 “State of U.S. sports viewing” report, 68% of sports viewers reported watching live games on TV or through streaming; 38% reported watching highlights, interviews and other clips on social media, YouTube and other platforms; and 12% said they interact with social media accounts or fan forums for professional players, teams or leagues.

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“What we’re seeing today is the evolution of consumption,” said Adam Kelly, president of global sports marketing agency IMG.

The TKO Groupowned firm packages and sells media rights and brand rights as well as providing consultancy on some of the biggest TV deals globally.

Live games that are aired exclusively on streaming consistently draw significantly younger audiences than those aired on linear TV, according to Nielsen, which recently began breaking down weekly sports viewership consumption.

If you are the broadcaster and proactively using your social and digital platforms to push out tons and tons of highlights and content … you’re kind of feeding the beast.

William Mao

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senior vice president of media rights consulting at Octagon

The NBA Finals saw an increase in new viewers to streaming platforms like Disney’s ESPN, according to Apptopia. Even streaming-only versions of pay TV bundles like Fubo and YouTube saw similar results.

However, when broken down by age, those new viewers for the NBA postseason tended to skew older, according to Apptopia’s data.

ESPN streaming saw an increase of 38% in new users over the age of 46, while the youngest cohort between 17 and 25 was up just 8%. For Fubo and YouTube, the growth was also heavily skewed toward the over-46 audience.

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“Our hypothesis when it comes to young fans is that they play a very important part in consuming sport and will continue to, but their consumption behavior is slightly different,” said Kelly. “People talk about fragmentation of the audience, but actually, consumption numbers have continued to increase.”

Sports highlights

Industry executives told CNBC that as sports migrate more and more onto social platforms, the content is acting as a conduit to live games, not a pure replacement.

“It’s just a continued development of the accessibility of content — a lot more platforms in the marketplace catering to short-form content,” said William Mao, senior vice president of media rights consulting at Octagon, a global sports and entertainment agency.

Mao said the rise of social content around live sports is an acknowledgment that companies need to “target and engage those younger demographics, those future consumers … where they are,” Mao said.

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The appetite for clips is creating something of a land grab between leagues and media rights holders, according to Mao.

Both the broadcasters and the leagues have their own social media presences. If multiple accounts want use of the same footage, it could dilute the audience.

Mao said as a result, media negotiations can go so far as to determine how long a highlight or clip can be used exclusively on one platform versus another.

The hope is that a healthy highlight reel on social feeds spurs interest among younger fans in live matchups.

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Alicia Windzio | Picture Alliance | Getty Images

Rollo Goldstaub, the global head of sport at TikTok, said 42% of users watching sports content on the short-form video platform will go on to tune into a live game on TV or streaming.

Goldstaub said his job includes making sure the platform has content from across the sports ecosystem — the leagues, athletes, media broadcasts and content creators. He said content directly from the broadcaster or the league, such as game highlights, typically has high engagement.

IMG’s Kelly said younger audiences “have been asked to fit into the existing framework when it comes to sports consumption.”

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“Distribution has stayed very much on the traditional means of delivery because it’s what worked so well for so long,” he said. “Non-linear [TV] young fans are spending most of their time on these platforms. Their preference is to consume content where they’re already consuming other material.”

While there are ways to monetize highlights and content on social media — such as ad revenue sharing on platforms like YouTube and other sponsorship opportunities — the main source of value for these games comes from the airing of the live matches on TV and streaming.

With sports fees skyrocketing, the need to earn that investment back grows.

The NBA is in the early years of its 11-year, $77 billion deal. The NFL, which is in the midst of its own 11-year deal worth a record $111 billion, has put heavier weight on advertising to drive revenue.

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“There’s an argument that if you are the broadcaster and proactively using your social and digital platforms to push out tons and tons of highlights and content, you’re kind of accelerating that trend even further right?” Mao said. “You’re kind of feeding the beast.”

Reaching young fans

To embrace younger fans, the major players are starting to adapt.

FIFA, the governing body over the World Cup, is allowing its global broadcasts to post more content on TikTok, whether that’s of the matches themselves or surrounding game footage.

The tournament is currently underway in the U.S., Canada and Mexico, and the first 10 minutes of every match can be shown on TikTok. When the stream ends there’s a direct link to stream the game, shown in the U.S. via networks owned by Fox and Comcast’s Telemundo.

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Malik Tillman #17 of the United States is challenged by Miguel Almiron #10 of Paraguay during the FIFA World Cup 2026 Group D match between USA and Paraguay at Los Angeles Stadium on June 12, 2026 in Los Angeles, California.

Dean Mouhtaropoulos | Getty Images Sport | Getty Images

In February, the NBA leaned into creator content during its All-Star weekend, inviting more than 200 digital natives to the event.

Rights holders Paramount Skydance and Disney have rolled out kid-friendly simulcasts to capture the youngest fans who may be tuning in alongside their parents.

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Paramount’s CBS has aired alternate broadcasts of live sports on its children’s TV network Nickelodeon — from Christmas Day games to the 2023 Super Bowl — complete with slime graphics and characters like SpongeBob SquarePants running on the field.

Disney has tapped into its intellectual property for ESPN’s NFL games, too, including overlays with characters from films like “Monsters Inc.” and “Toy Story.”

And leagues across sport have partnered with Gamefam, a leading Roblox game developer, to bring their team jerseys and content to the video game platform that’s popular with Gen Z and Gen Alpha.

Roblox collaborated with Paramount for its Super Bowl broadcast on Nickelodeon, which became the biggest event ever on Roblox with 70 million visits in 30 days: “It was huge,” said Gamefam CEO Ricardo Briceno.

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Briceno noted that building fandom and converting users from Roblox to beyond the platform is “very important.” That could mean watching a game or buying a jersey or other merchandise.

“That’s the funnel. You build awareness and love for the brand, then you put your dollars into it,” said Briceno.

From TV to tech

NFL Commissioner Roger Goodell at the Netflix advertising presentation in 2025.

Courtesy of Netflix

NFL Commissioner Roger Goodell has been vocal about meeting young fans where they are on streaming services. The NBA’s latest media deal brought in Prime Video to replace Warner Bros. Discovery’s TNT Sports. YouTube aired its first-ever NFL game in September.

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The strategy appears to be working. The NBA scored some of its highest-rated games this season, and the NFL’s “Thursday Night Football” on Prime Video has continued to capture more viewers — delivering its most-watched season in its 20-year history.

Still, IMG’s Kelly, TikTok’s Goldstaub and others said they don’t view the shift toward social media as a threat to the traditional media partners.

“We can be that partner that’s driving the value of these younger and more likely female fans, the ones that broadcasters are struggling to reach,” Goldstaub said.

“I think right now we’re really happy operating in this space of almost like part of the game,” he said. “We get to promote the full match live, we get to promote the broadcaster, but we also get to give users something really amazing and interesting to see.”

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