Pink's Bottom Line on Media, Money and Sports
Box office revenue, inflation in America and the NBA MVP favorite
In today’s newsletter, I discuss box office revenue, inflation in America and the NBA MVP favorite.
MEDIA: Box Office Revenue
Box office revenue at the nation’s theaters and cinemas fell last weekend to its lowest level since late September.
Pink's Bottom Line
With the emergence of the Omicron variant in the past few weeks, it’s quite possible that some potential moviegoers stayed home as a result.
Additionally, the slate of films in theaters this past weekend did not include any new, major releases, which also likely contributed to the weaker box office revenue.
MONEY: Inflation in America
Nearly one out of every two Americans say that inflation is causing them at least some degree of financial hardship.
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Notably, among those with incomes below $40,000 a year annually, 71% of those surveyed said inflation is causing either severe or moderate financial hardship.
That suggests that with the winter approaching and with energy prices soaring, lower income homes could feel the negative impact of inflation even more as the cost to heat a home — a vital and necessary expense — is much higher this year than a year ago.
SPORTS: NBA MVP Favorite
Stephen Curry, the superstar guard for the Golden State Warriors, is the clear favorite to win the NBA’s Most Valuable Player award this year, according to FanDuel Sportsbook.
Pink's Bottom Line
If Curry wins the award, it will be the third time he will have been named league MVP — he last won the award in 2016.
Additionally, Curry is now 16 made three-pointers away from the having the most career made three-pointers of any player in NBA history — Ray Allen currently holds the record with 2,973 career made three-pointers.
Curry is averaging more than five made three-pointers a game this season so he is on track to eclipse the all-time NBA three-point record in the next few games.
Jeremy Pink is currently an advisor to media and fintech companies around the world. He is the former CEO of private-equity backed Broadcast Sports International where he helped lead the company to a successful sale and exit during his tenure there. He is also a former CNBC television executive in New York, London and Singapore.
The information contained in this communication is strictly for general informational and entertainment purposes and is not meant to be construed as financial, investment, tax, or legal advice. This communication is not a solicitation to buy or sell any securities. I am not a financial advisor or offering professional advice of any kind. Users should not act upon the content or information found within this communication without first seeking professional advice appropriate for their individual situation. Decisions based on information contained in this communication are the sole responsibility of the user, and use of this communication and its contents constitutes an explicit understanding and acceptance of the foregoing disclaimers.
(Newsletter Editor: Karina Pink)