Pink's Bottom Line on Media, Money and Sports
Media and sports betting, consumer confidence and a key first round NBA playoff series
In today’s newsletter, I discuss the media and sports betting, consumer confidence and a key first round NBA playoff series.
MEDIA: Media and Sports Betting
There’s another sign this week that sports betting information is becoming an integral part of sports reporting these days.
Axios is reporting that the Associated Press (AP) will use FanDuel odds exclusively for its sports reports. FanDuel reportedly is paying AP for this to happen.
Pink's Bottom LineAs sports betting become legal in more states throughout the country, the demand for sports odds — and betting information in general — is growing dramatically.
As such, FanDuel will now have visibility across the enormous reach of the Associated Press, and the AP will now have a single source of sports betting odds.
Look for more deals similar to this one in the coming months where a media company partners exclusively with a sports betting company.
MONEY: Consumer Confidence
The American consumer remained confident in May, according to the Conference Board’s Consumer Confidence Index released Tuesday.
That index posted a reading of 117.2 in May, down slightly from a level 117.5 in April, according to the Conference Board.
Importantly, though, consumer expectations for the short-term outlook for business, income and labor market conditions fell in May compared to April.
Pink's Bottom LineThat data suggests that while consumers generally do remain confident for the immediate term, they could potentially become less confident in the next few months.
As the country reopens and as the economy recovers over the summer, it will be important to gauge consumer reaction during this time.
It will also be important to watch just how much impact inflationary pressures will have on the confidence of the American consumer this summer.
SPORTS: Key First Round NBA Playoff Series
In the NBA Tuesday night, the Los Angeles Lakers beat the Phoenix Suns to even their first round playoff series at one game apiece.
LeBron James and Anthony Davis, the two superstars for the Lakers, led the team to that victory.
Notably, for Phoenix, star guard Chris Paul saw limited action due to a shoulder injury he sustained in the first game of that series.
Pink's Bottom LineSince Paul arrived in Phoenix this season, he has been a fantastic leader and veteran presence on the team and he has helped the Suns post the second best record in the Western Conference.
Without Paul at full strength, though, the Suns chances of beating the Lakers decline dramatically.
With the series now heading to Los Angeles for the next two games, look for the Lakers to win those games and take full control of the series.
Jeremy Pink is currently COO of Geniecast, a leading virtual content and experience company. 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)