Pink's Bottom Line on Media, Money and Sports

Ten-minute TikToks, oil reserves and the NBA's Philadelphia 76ers

In today’s newsletter, I discuss ten-minute TikToks, oil reserves and the NBA's Philadelphia 76ers.

MEDIA: Ten-Minute TikToks

TikTok, the wildly popular short video sharing platform, is allowing users to post longer duration videos.

According to multiple reports including this one from TechCrunch, users can now post videos of up to ten minutes, seven minutes more than the current limit of three minutes.

Pink's Bottom Line

TikTok’s popularity soared as users flocked to shorter duration videos, distinguishing the platform from YouTube where videos are much longer.

Now, with videos as long as ten minutes, TikTok is on a direct path to compete with YouTube.

MONEY: Oil Reserves

The International Energy Agency (IEA), a consortium of 31 member countries, today said it would release 60 million barrels of its strategic reserve.

For some context, the IEA’s strategic reserve is 1.5 billion barrels, which means that it is releasing about 4% of that reserve.

Pink's Bottom Line

The IEA is making that move to release those reserves as Russia’s invasion of Ukraine disrupts oil supply around the world.

Oil prices have risen sharply since the invasion, with prices topping $106 per barrel in trading today.

The IEA’s release of 60 million barrels should help moderate the rising price of oil, which an encouraging sign of global cooperation as consumers around the world are now facing higher energy prices.

SPORTS: Philadelphia 76ers

The NBA’s Philadelphia 76ers traded for superstar James Harden just a couple of weeks ago, and his first games with his new team show that Harden just might be exactly what the 76ers need.

In Harden’s first two games with Philadelphia, he averaged 28 points and 14 assists, helping lead the team to two victories.

Pink's Bottom Line

Harden complements Joel Embiid, the team’s other superstar, almost perfectly, which makes the 76ers a formidable challenger to win the Eastern Conference.

Look for Harden and Embiid to play even better as the season progresses, and for Philadelphia to reach the Eastern Conference finals and perhaps play for the NBA title.

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Jeremy Pink 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. He is currently CEO of Essay Group.

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)