Pink's Bottom Line on Media, Money and Sports

Broadcast television, home ownership and college basketall

I talk broadcast television, home ownership and college basketball in today’s newsletter.

MEDIA: Broadcast Television

Primetime broadcast television, often derided as a dinosaur among today’s vast media offerings, enjoyed a spectacular Sunday night.

Three broadcasts on the networks pulled in audiences of more than seven million viewers each, led by 60 Minutes with its interviews of the presidential and vice-presidential candidates.

On CBS Sunday night, 16.8 million tuned in to watch 60 Minutes. On NBC, Sunday Night Football drew 12.3 million, and Game 5 of the World Series on Fox pulled in 7.4 million viewers.

Pink's Bottom Line

Big events — whether something taped but highly anticipated like the interviews on 60 Minutes or live sports like the NFL and World Series games — remain important drivers of viewership on primetime broadcast television.

So, don’t count out the traditional television networks just yet — broadcast television is perhaps still the best way to reach a mass audience among all media platforms, and Sunday night’s ratings reflect that.

MONEY: Home Ownership

A greater percentage of Americans owned their own home last quarter compared to the third quarter of 2019, according to a report released today by the US Census Bureau.

Overall, 67.4% owned their own home last quarter compared to 64.8% in the third quarter of 2019, according to that report.

Notably, all age groups saw an increase in home ownership on a year-over-year basis, including those aged 35 and younger, according to that report.

Pink's Bottom Line

The housing market has been a pocket of strength in a weaker overall US economy, and these home ownership numbers help reinforce that notion.

However, on a quarter-to-quarter basis, home ownership actually ticked down slightly, from 67.9% in the second quarter of 2020 to 67.4% in the third quarter, according to this US Census report.

One quarter doesn’t make a trend, but it is worth watching as a potential indicator of a slowing housing market.

SPORTS: College Basketball

The NCAA men’s and women’s college basketball seasons will officially begin on Wednesday November 25, the day before Thanksgiving.

It’s a curious day to start the seasons, but it does make some sense.

Most colleges will be on Thanksgiving break, and many universities won’t have students return to campus until after the first of the year.

The NCCA’s goal, it seems, is to limit interaction between the players and others in these times of coronavirus.

Pink's Bottom Line

For men’s basketball in particular, the 2020-2021 season will be crucial for its long-term popularity and sustainability.

Top high school players have been opting for other routes to the NBA rather than playing in college, including playing in professional leagues overseas or in the NBA’s own minor league, the G League.

Additionally, as soon as 2022, there’s likely going to be a change in NBA draft rules that will allow players to enter the NBA directly from high school.

If men’s college basketball this year struggles to attract a meaningful television audience or fails to capture a significant amount of fan interest during the winter, look for the trend of top high school players going pro — and skipping college — to accelerate dramatically beginning this spring.

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Jeremy Pink is former CEO of private-equity backed Broadcast Sports International where he led 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. Jeremy currently serves as an advisor or consultant to companies in New York, London and Hong Kong in the media, technology and financial tech sectors.

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)