Good morning. This is Katie Deighton filling in for Nat Ives. Today, content creators remain unconvinced that X presents a lucrative business opportunity; slow whiskey sales are pushing Jack Daniel's maker down new paths; and Netflix's co-CEO set-up has pleasantly surprised media commentators.

X is still trailing well behind platforms like YouTube, TikTok and Meta Platforms’ Instagram as a destination for many creators, Alexa Corse reports.

Some creators have cited concerns about the state of X’s advertising business as a hurdle to the platform’s efforts to woo them. X has faced declines in daily user numbers, as well as reluctance from many big advertisers wary about Musk’s loosening of content rules, controversial tweets, and willingness to publicly berate brands that pull their ads from his platform.

X’s program pays creators a portion of ad revenue from ads placed in replies to their tweets, and those paydays depend on advertisers spending big.

“X isn’t exactly a stable or reliable platform,” said Jasmine Enberg, principal analyst at Emarketer. “Given the state of its ad business, it’s hard to imagine it can convince most creators that it can provide them with a sustainable source of income.”

Demand has been sliding for Jack Daniel’s Old No. 7 whiskey for months and the company behind it, Brown-Forman, is forecasting a sluggish U.S. whiskey business for at least the next year, Jennifer Maloney reports.

Drinkers guzzled whiskey and other spirits during the pandemic, driving banner sales growth for Brown-Forman and other distillers, but the party has ended. Cheaper canned cocktails and other spirits like tequila are growing in popularity. Some drinkers of Jack Daniel’s Old No. 7 are trading down to cheaper alternatives while others are trading up.

Brown-Forman is wooing younger drinkers to Jack Daniel’s Old No. 7 with personalized labels and digital ads. A recent TV commercial set to the AC/DC song “Back in Black” featured cameos by musicians popular with young adults, including Christone “Kingfish” Ingram, St. Vincent and Este Haim.

Brown-Forman’s leaders say their 154-year-old company takes the long view. The current sales dip is an anomaly, they say—as were the previous two years of double-digit-percentage growth.

Naysayers of Netflix's co-CEO set-up are being proven wrong as Greg Peters and Ted Sarandos steer the streaming company back on course, Jessica Toonkel writes.

Netflix has found new ways to grow—including by cracking down on password sharing—and its stock has taken flight, more than doubling in a year. That's despite the mismatch of its leaders' styles: Peters, the product guru, was told he was too focused on data, while Sarandos, the Hollywood czar, was told he doesn’t focus on data enough.

Together, they are starting to put their stamp on Netflix’s culture, with internal discussions under way to re-examine core principles such as employee freedom, given that the company is maturing and facing new business pressures.

Tough, candid conversations are crucial to make the co-CEO model work, said Scott Taylor, a professor of organizational behavior at Babson College. “When you see co-CEOs fall apart, it’s often because the nature of the relationship is territorial and there is a lack of clarity around each one’s direction,” he said.

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