The weather is breaking in parts of the U.S., and people are anxious to get outside and meet up. White Claw Hard Seltzer is hoping to capitalize as friends begin to mingle after a year of pandemic lockdowns.
The boozy beverage brand is introducing White Claw Surge, available in blood orange and cranberry flavors, which takes summer sipping to a new level with its 8 percent alcohol content, a 3 percent jump from existing products. John Shea, chief marketing officer at White Claw Hard Seltzer, said the brand was inspired by its consumer base to create the new line of beverages.
"We've got the biggest fanbase, extremely passionate. We don't have to look too far when we're looking for new inspiration on new products," Shea told Cheddar. "They're vocal about it and we've got kind of built-in consumer research just by following social media, so that's where we take our lead."
The brand is also rolling out a line of alcoholic iced teas that will be available in lemon, raspberry, peach, and mango. Those teas, however, will retain the typical 5 percent alcohol content.
With demand for hard seltzer on the rise in the U.S. Shea said the company has already taken steps to make sure there is enough product heading to store shelves by building two "breweries." He said the factories will help the brand remain the leader in the hard seltzer category.
"There's been a big wave into the hard seltzer market. Last year at this time we had about six competitors. Now there's about 170. White Claw's bigger than all of them combined. So our fans have really gotten behind the product and are looking for new innovation, and that's what we're bringing to them," he said.
Shea said the company plans to maintain its position at the top of the hard seltzer category by continuing to listen to its consumers and elevating its offerings with quality products.
"It really starts with the liquid, an amazing, refreshing liquid, and then for White Claw, it's just about pure uncomplicated fun. It's a simple product, light flavors, really refreshing," he noted.
Coming off of the latest NFL season, Draftkings has plans for growth and new bettors to join its platform following what it saw as a record year of state legalization of sports betting and Super Bowl action. CEO Jason Robins joined Cheddar News to talk about what in store for the company in 2022, including labor issues leading to the postponement of the MLB's spring training games and the NCAA's March Madness. "There's a lot of really exciting stuff that happens in the first couple of rounds all the way through to the championship game. So typically we've seen incredible activity during March Madness on the betting side," Robins said.
PlayersTV is bringing sports viewers Athletes On Demand, a subscription platform to provide fans with thousands of hours of sports content from their favorite athletes. CEO Angela Bundrant joined Cheddar News to discuss the new rollout. "People can expect to receive content or buy into content on demand that comes from their favorite athletes," said Bundrant, listing star partners like the Phoenix Suns' Chris Paul and New Orleans Pelicans' C.J. McCollum.
The New York Stock Exchange has applied for trademark licenses to launch metaverse-, NFT-, and cryptocurrency-related goods, but denies that it has any immediate plans to launch these virtual products. Adam Hollander, the founder of Hungry Wolves NFT, joins Cheddar News' Closing Bell, where he noted such a plan would be "game-changing."
Walmart beat earnings estimates for the fourth quarter, and despite losses stemming from supply chain costs and COVID-19 employee sick leave, the big box chain was still able to fight inflation as costs rose across the board. What's next for Walmart and other retail giants as inflation continues to run hot?
Arun Sundaram, Senior Equity Analyst at CFRA Research, joins Closing Bell to discuss.
Bamboo-based toilet paper company Cloud Paper raised $5 million in a recent funding round. Its product is a bamboo-based alternative to traditional toilet paper made from trees, and its mission is to end the deforestation caused by traditional paper products. Cloud Paper says the raise will allow it to make significant investments in its supply chain, product development, and hiring. Ryan Fritsch, a co-founder of Cloud Paper, joined Cheddar News' Closing Bell to discuss.
Space tourism company World View plans to launch its first commercial flights in early 2024, with voyages to take off from iconic locations around the world like the Grand Canyon — but seemingly at a flexible price point. Dale Hipsh, president of tourism and exploration at World View, joined Cheddar to discuss what a trip to the stratosphere would look like with his company and its much less expensive take on space travel. "Our technology allows us to be more democratic, to offer more opportunities for people to experience near space, and that overview effect," he said. "So we're really thrilled to be bringing it to market."
