Pink's Bottom Line on Media, Money and Sports

Weekend box office revenue, American workers quitting their jobs and Notre Dame football

In today’s newsletter, I discuss weekend box office revenue, American workers quitting their jobs and Notre Dame football.

MEDIA: Weekend Box Office Revenue

Box office revenue at the nation’s theaters and cinemas fell roughly 36% this weekend compared to last weekend, according to data from Box Office Mojo.

Revenue totaled about $69 million this weekend compared to $109 million last weekend — Eternals, a Marvel movie, was the top grossing movie for the second straight week.

Pink's Bottom Line

While box office revenue did indeed decline this weekend, the movie business is perhaps as healthy as it has been since the pandemic began.

For some context, box office revenue totaled $11.3 million during the same weekend last year, and the weekend two weeks before Thanksgiving often can be soft at the box office.

MONEY: Workers Quit in Record Numbers

American workers quit their jobs in record numbers in September, according to the government’s Job Openings and Labor Turnover Summary (JOLTS) report released last week.

According to data from JOLTS, 4.4 million Americans voluntarily quit their jobs in September — that is a record monthly high.

Pink's Bottom Line

Meanwhile, job openings for the month of September held steady at 10.4 million with increased job openings in health care and state and local government, excluding education jobs.

As such, the record number of workers quitting their jobs together with a steady supply of job openings suggests that the labor shortage in the United States will remain an issue for many employers for the foreseeable future.

SPORTS: Notre Dame Football

Following this weekend’s games in college football, Georgia, Alabama, Oregon and Ohio State now appear as the teams most likely to make the College Football Playoff (CFP) this season.

However, any of those teams could stumble in the next few weeks, which means that other schools could claim one of those CFP spots.

Pink's Bottom Line

Notably, Cincinnati and Notre Dame are two teams that could eventually make the CFP if Georgia, Alabama, Oregon or Ohio State falters.

Cincinnati beat Notre Dame 24-13 in early October, but since that game, Notre Dame has played a tougher schedule, and the Fighting Irish have looked like the better team.

That’s why Notre Dame, which had a remote chance to make the CFP just a few weeks ago, now just might become one of the four teams to play for the national title this year after all.

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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)