At the current rate of deleveraging, driven by both debt reduction and increasing earnings (a mix of top-line growth and margin expansion from sales mix, price take, and disciplined cost rationalization), it is likely that repurchases resume much earlier, contingent on reinvestment needs in New Categories, perhaps as early as H1 2024
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Its interesting in this context, then, to consider the fact that a number of the most influential innovators in popular music towards the end of the 1960s were all, in their different ways, pulling song form away from the verse-chorus dynamic and towards longer structures involving repeating cycles - think of Jimi Hendrix, especially his last album, Band of Gypsys, released in 1970, George Clinton, whose band Funkadelic released their first album in the same year, and above all, James Brown, who Snead actually cites in his essay as the quintessential master of this approach to musical structure and who, more or less single-handedly, reoriented popular music around the principle of the groove, a trend that, with the advent of drum machines and synthesisers, would spawn disco and electronica, and then later, with the introduction of samplers, lead to hip-hop production and the bulk of present-day pop
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