In this articlePFEMRNAAmid growing fears of a fourth wave of U.S. Covid-19 cases, government officials urged Americans to continue taking precautions to prevent the spread of the virus.During a press conference on Monday, Centers for Disease Control and Prevention Director Dr. Rochelle Walensky said she had a feeling of “impending doom” and urged Americans to “just hold on a little longer.” Later in the day, President Joe Biden said the “war against Covid-19 is far from won.” He condemned behavior likely to spread infections and said some states should pause their reopening plans.At the same time, a new CDC study of vaccinated health-care workers showed that one dose of the Pfizer or Moderna vaccine was 80% effective in preventing coronavirus infections, and 90% two weeks after the second dose. The pace of daily vaccinations is nearing 3 million shots per day.U.S. Covid casesAbout 66,000 new Covid cases are being reported in the U.S. each day, based on a seven-day average of Johns Hopkins University data that has been ticking upward. That figure is far below January’s peak of about 250,000 daily cases but more in line with the summer surge, when daily cases peaked near 70,000 in late July.Zoom In IconArrows pointing outwardsCases are increasing by 5% or more, based on the change in the seven-day average of daily cases from a week ago, in more than half of U.S. states.U.S. Covid deathsThe U.S. is reporting a weekly average of 990 Covid deaths per day, according to Hopkins data. Overall, more than 550,000 total U.S. coronavirus deaths have been reported.Zoom In IconArrows pointing outwardsU.S. vaccine shots administeredNearly 2.4 million vaccine shots were reported administered on Monday, bringing the seven-day average of daily vaccinations to 2.8 million, a record level.Zoom In IconArrows pointing outwardsBiden said Monday that 90% of adults in the U.S. will be eligible for Covid shots by April 19.”For the vast, vast majority of adults, you won’t have to wait until May 1. You’ll be eligible for your shot on April 19,” Biden saidU.S. share of the population vaccinatedCDC data shows that 95 million people, nearly 30% of the U.S. population, have received at least one dose of a Covid vaccine. Some 53 million are fully vaccinated with two shots of the Pfizer or Moderna vaccines or one shot of Johnson & Johnson’s.About half of those 65 and older are fully vaccinated, according to the CDC.Zoom In IconArrows pointing outwardsCNBC’s Noah Higgins-Dunn and Berkeley Lovelace Jr. contributed to this report. More

Trevor Bauer #27 of the Los Angeles Dodgers pitches against the San Francisco Giants in the first inning at Oracle Park on May 21, 2021 in San Francisco, California.Thearon W. Henderson | Getty Images Sport | Getty ImagesMajor League Baseball said Tuesday it will enforce new guidelines around pitchers using foreign substances on baseballs during games beginning June 21.The league office announced that it will empower umpires to check pitchers regularly for banned substances, even if clubs don’t request searches. Relief pitchers will be searched for foreign substances after the inning they pitched or when they’re removed from games.In addition, MLB said umpires will be urged to check pitchers when they notice “the baseball has an unusually sticky feel to it, or when the umpire observes a pitcher going to his glove, hat, belt, or any other part of his uniform or body to retrieve or apply what may be a foreign substance.”Players caught cheating will be ejected from the contest and suspended with pay for up to 10 games.MLB investigated complaints from players, collected data, and tested balls used by all 30 clubs in the first two months of the season. It determined “there is a prevalence of foreign substance use by pitchers” throughout MLB and the Minor League level.The league added third-party research revealed impacted baseballs have better spin rates and movement that provides pitchers with an “unfair competitive advantage over hitters and pitchers who do not use foreign substances, and results in less action on the field.”Pitchers have dominated this season. There have already been six no-hitters thrown, which could break the record of eight no-hitters set in 1884. Pitchers are also holding hitters to league-low batting averages not seen since 1968. After more than 1,900 games this season, MLB hitters have a combined .238 average. In a statement, MLB Commissioner Rob Manfred acknowledged “the history of foreign substances being used on the ball, but what we are seeing today is objectively far different, with much tackier substances being used more frequently than ever before.”MLB Commissioner Rob ManfredSteven Ferdman | Getty Images”It has become clear that the use of foreign substance has generally morphed from trying to get a better grip on the ball into something else — an unfair competitive advantage that is creating a lack of action and an uneven playing field,” he added. “This is not about any individual player or club, or placing blame, it is about a collective shift that has changed the game and needs to be addressed. We have a responsibility to our fans and the generational talent competing on the field to eliminate these substances and improve the game.”Game umpires will also examine catchers and positional players if they “observe conduct consistent with the use of a foreign substance by the pitcher.” If players refuse umpire checks, they will be ejected from games and suspended.Teams are responsible for educating players on the rules. Club personnel may be placed on MLB’s ineligible list if they’re caught encouraging or aiding players using sticky substances.If players are suspended for the on-field violations, clubs won’t be eligible to replace the roster spot, the league said. MLB notified the players union of the new guidelines and could make further changes to penalties in the future. “Major League Umpires stand in support of this initiative to eliminate the use of foreign substances in the game,” said Bill Miller, president of the Major League Umpires Association, in a statement. “The integrity of the competition is of utmost importance to us. We have worked diligently with MLB to develop an enforcement system that will treat all players and Clubs equally.”Read MLB’s complete enforcement plan here. More

Cities of Success

“Cities of Success” special featuring Nashville will air on CNBC on December 6 at 10pm ET

The vinyl record business has undergone a remarkable multibillion-dollar resurgence in the past decade.
The revival was fueled by artists such as Taylor Swift and retailers including Target and Walmart, along with consumers rekindling their love for the nostalgic format during the Covid pandemic.
United Record Pressing has become a major player in the vinyl market, producing approximately 40,000 records daily at its Nashville, Tennessee, facility.

A stack of freshly pressed gold vinyl records at United Record Pressing.

This story is part of CNBC’s new quarterly Cities of Success series, which explores cities that have been transformed into business hubs with an entrepreneurial spirit that has attracted capital, companies and workers.
Once considered a dying industry, the vinyl record business has undergone a remarkable multibillion-dollar resurgence in the past decade. It has been fueled by popular artists such as Taylor Swift and major retailers including Target and Walmart, along with a growing wave of consumers rekindling their love for the nostalgic format during the Covid pandemic.

“Never in a million years did I think it would, as a market and as an industry, become what it’s become today,” Mark Michaels, CEO and chairman of United Record Pressing, the largest vinyl recording pressing plant in North America, told CNBC’s Andrea Day in the upcoming primetime special “Cities of Success,” which airs Dec. 6 at 10 p.m. ET.

United Record Pressing CEO Mark Michaels inspecting a vinyl record.

The global vinyl record market was valued at $1.98 billion in 2022 and is projected to reach $4.12 billion by 2030, according to Verified Market Research. More than 41 million vinyl albums were sold in the U.S. last year — the highest number since 1988, according to the Recording Industry Association of America.
United Record Pressing has become a major player in the vinyl market, producing approximately 40,000 records daily at its Nashville, Tennessee, facility. Founded in 1949 as Southern Plastics, the company has a rich history of producing vinyl records for iconic artists, including The Beatles, Stevie Wonder, Michael Jackson, Adele and Jack White.
But the company was facing an uncertain future 16 years ago when Michaels acquired it.

Second wind

The vinyl record industry had been in decline for several decades due to the emergence of more convenient physical formats such as cassette tapes and CDs, a decrease in the quality of vinyl records due to lower-quality materials and processes, and the rise of digital music, such as MP3s and online streaming.

Vinyl record sales plummeted in the 1980s and 1990s. And by the early 2000s, the industry was on the verge of extinction: In 2006, only 1 million vinyl records were sold in the U.S., according to RIAA.
“I questioned what I did all the time,” Michaels recounted after acquiring the company. “I had many sleepless nights. [Even] my family questioned what I had done.”
But in the years that followed, Michaels said, he noticed a promising trend: Indie artists displayed a growing interest in vinyl.
Hoping to position United Record Pressing as the go-to pressing plant for those artists and music producers who valued the tangible vinyl experience, Michaels purchased old record presses from closed plants to accommodate potential growth.
“Prior to 2016, you had to be able to find and restore an old record press, and that was a real tough, tough search,” Michaels said.
The demand for vinyl from both indie and mainstream artists soon led to reissues and colored variants, marking a turning point, according to Michaels. That growth gained further momentum with the entry of major retailers such as Target and Walmart into the vinyl market in the early 2010s.

Mainstream lift

When Target and Walmart, two of the largest retailers in North America, decided to stock vinyl the entire supply chain was significantly affected, according to Michaels.
Vinyl began reaching a wider market segment: consumers who may not have traditionally shopped in independent record stores but were keen on acquiring mainstream vinyl titles.
“We recognized that with all the old presses that we had acquired, and we built the company around, that was inadequate to be able to service the needs of where the market was going,” Michaels said. “Conveniently, in sort of 2016, a couple of companies started manufacturing new record presses.”

Read more about Nashville and CNBC’s Cities of Success

Soon after, United Record Pressing implemented a growth strategy, relocating to a larger facility in 2017. The company established a creative marketing team that engaged with artists and labels, conceptualizing unique vinyl ideas such as liquid-filled, split-colored and scented records.
The company also included a digital download coupon with each record and initiated a record label, recording artists on tape and pressing directly to vinyl.
Michaels said the company also orchestrated a grassroots public relations campaign to highlight its 60-year history as the premier vinyl pressing plant in North America.

United Record Pressing’s expansion space.

The new space, spanning 155,000 square feet in Nashville, not only met present requirements but also positioned the company for future growth — which would come just a few years later when the Covid pandemic provided an additional boost to the industry as people reengaged with the nostalgic format.
Today, the medium reigns as the most popular physical music format in the U.S., representing 72% of all physical music sales, ahead of CDs and cassettes, according to mid-2023 data — the most recent information available from the RIAA.
According to Billboard, the average price of a vinyl record increased from $26.12 in 2021 to $29.65 in 2022, reflecting heightened production costs and the impact of inflation.
In addition, the landscape of vinyl retailers has evolved over time. Indie record stores led the market in 2015 with 45.4% of sales, Billboard reported, followed by internet or mail-order sellers such as Amazon at 32.9%, and chain stores such as Best Buy at 15%.
By 2018, Amazon had eaten into indie stores’ dominance, with both categories representing 41% of market share, while Best Buy’s share had decreased to just over 10%. And by 2019, major retailers such as Walmart and Target were registering on the scene.
Where big-box retailers made up only 1% of vinyl record market share in 2015, they accounted for 14.6% of sales in 2021, according to Billboard.

Artist-driven

Michaels told CNBC he is confident that the market’s continued growth will be artist-driven. That plus a general shift in interest, as younger listeners discover vinyl, suggest the medium is here to stay, he said.
Artists such as Taylor Swift offer collectible versions of their albums, called “variants,” which are multicolored vinyl records.

Recording artist Taylor Swift’s entire music catalog, including her album “Red,” has been pressed at United Record Pressing.

“When Taylor releases a new record, there may be eight, nine, 10, different variants of that same record — different colors, different combinations, maybe there’s some unique tracks that weren’t included on the digital release, or the CD, but you get it on the vinyl,” Michaels explained. “There’s a lot of fans that say, ‘There are eight different variants. I want one of each, please.’ They’re very supportive.”
The CEO attributes a portion of his company’s success to the city of Nashville, too, praising its deep-rooted connection to music and the creative industry, which has provided a dedicated and skilled workforce.
“You have the whole musical ecosystem here,” he said. “You have artists, producers, studios — it all works together in a highly symbiotic way. It’s the perfect place, and we’re very fortunate to be here.”
TUNE IN: The “Cities of Success” special featuring Nashville will air on CNBC on Dec. 6 at 10 p.m. ET/PT. More

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BEING SAM ALTMAN is a glamorous gig. Since the launch of ChatGPT in November 2022 the boss of its creator, OpenAI, has turned into a global business superstar. He is the darling of both the starch-collared Davos set and Silicon Valley’s dishevelled techno-Utopians. He hangs out with everyone from Katy Perry to Donald Trump, whom he accompanied on a visit to Saudi Arabia this week. It would shock no one if by its next funding round his startup, currently worth $300bn, overtook SpaceX and ByteDance to become the world’s most valuable unlisted firm. The AI wunderkind recently told the Financial Times that he has the “coolest, most important job maybe in history”. No kidding. More