Barack and Michelle Obama are behind a new podcast that aims to shed light on diverse Muslim experiences.
Announced on Monday as part of Spotify's Stream On live event, the former president and first lady's company, Higher Ground Productions, will release Higher Ground: Tell Them, I Am exclusively on the platform during Ramadan.
Hosted by Pakistani-American Misha Euceph, the series, which launches on April 12, comprises a collection of interviews with US Muslim activists, artists, actors, performers and athletes.
While the series originally began in May 2019 under the name Tell Them, I Am, the new reboot is poised to provide the show with its biggest audience yet, thanks to the Obamas' backing.
"The stories are universal and the guests are all Muslim," Euceph said during the Stream On session. "The ultimate goal is for people to feel something for them and to fall in love with the people that they are listening to without ever thinking about who they are and what they look like."
Previous episodes of Tell Them, I Am include interviews with actor Ramy Youssef, hip-hop dancer Amirah Sackett and novelist G Willow Wilson.
Higher Ground: Tell Them, I Am is one of three productions the Obamas are working on for Spotify.
The Michelle Obama Podcast returns this year after its debut 10-episode season in September 2020.
"What I love about these conversations is that they are topics and issues that we are all dealing with, no matter what is going on," Michelle said. "Whether that is a global pandemic or a nationwide reckoning with race."
Also released through Higher Ground Productions is Renegades: Born in the USA, an eight-episode series featuring conversations between former president Barack Obama and rocker Bruce Springsteen.
The first two episodes are available on Spotify.
Here are five other things we learnt from Spotify's Stream On.
1. The murder of George Floyd explored in a new podcast series
Also entering the podcast space is Ava DuVernay. The award-winning filmmaker (When They See Us and Selma) will produce a range of scripted and unscripted programmes for the platform. The first is a yet-to-be-titled investigative series focusing on the death of George Floyd at the hands of a US police officer in May 2020. Each episode will explore different facets of the case and its societal repercussions.
2. Batman is coming
As part of a multi-year agreement with Warner Bros and DC, a string of heroes and villains are coming to Spotify through narrative scripted podcasts.
Kickstarting the move later in the year is Batman Unburied, produced by Batman Begins screenwriter David S. Goyer.
"I am incredibly excited to push the boundaries of storytelling," he said. "With Batman Unburied, we are going to do a deep dive into Batman's unconscious mind (and) into his dream state."
3. Spotify goes HiFi
Expect to hear your favourite tunes and podcasts in high definition later in the year when the platform rolls out its Spotify HiFi feature. Available to premium subscribers in select countries, the option promises "CD-quality" sound full of depth and clarity.
One person looking forward to the addition is pop star Billie Eilish. "High quality audio means more info," she said. "It is really important because we want music to be heard the way it is made.”
4. Spotify expands in South-East Asia and Africa
After launching in the Mena region in 2018, Spotify aims to expand its sonic imprint across Asia, Africa, the Caribbean, Europe and Latin America.
While launch dates are yet to be announced, the expansion is good news for music lovers as each new territory means the discovery of new artists and genres.
Some of the culturally rich countries set to join Spotify include Pakistan, Bangladesh, Ghana, Kenya and Jamaica.
5. More money is being made on the platform
Perhaps to stem recent criticism by artists regarding Spotify's royalty rates, chief executive Daniel Ek revealed that more than $5 billion was paid out to music rights holders in 2020.
An accompanying statement provided a larger overview of how streaming income was spread. According to the figures released, 57,000 artists represent 90 per cent of monthly streams on the platform, a figure that quadrupled over six years, while 7,500 artists generated more than $100,000 a year over the past four years.
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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Ads on social media can 'normalise' drugs
A UK report on youth social media habits commissioned by advocacy group Volteface found a quarter of young people were exposed to illegal drug dealers on social media.
The poll of 2,006 people aged 16-24 assessed their exposure to drug dealers online in a nationally representative survey.
Of those admitting to seeing drugs for sale online, 56 per cent saw them advertised on Snapchat, 55 per cent on Instagram and 47 per cent on Facebook.
Cannabis was the drug most pushed by online dealers, with 63 per cent of survey respondents claiming to have seen adverts on social media for the drug, followed by cocaine (26 per cent) and MDMA/ecstasy, with 24 per cent of people.