Pink's Bottom Line on Media, Money and Sports
Video streaming apps, cryptocurrencies and a WNBA emerging star
In today’s newsletter, I discuss the growth in video streaming apps, the decline in cryptocurrencies and the emergence of a WNBA star.
MEDIA: Video Streaming Apps
Video streaming apps — not surprisingly — are growing in popularity in 2021, according to a report from Sensor Tower, a global app research and analytics firm.
Consumers installed 13% more video streaming apps in the first quarter of this year compared to the same quarter a year ago, according to Sensor Tower.
Additionally — and more importantly — consumers spent 48% more money on video streaming apps in the first quarter of this year than they did in the first quarter of 2020, according to Sensor Tower.
Pink's Bottom Line
The rush to capture that video streaming revenue has spurred consolidation among media companies — most notably with the announcement earlier this week about a Discovery and Warner Media combination.
That said, video streaming could soon hit a saturation point among consumers as soon as the end of the year.
If that does happen, it could spark even faster consolidation in the media industry as companies will look to position themselves to weather that potential slowdown in video streaming revenue growth.
MONEY: Cryptocurrencies
Many cryptocurrencies, notoriously volatile assets, declined sharply in value in the past day or two.
Bitcoin, the most widely adopted cryptocurrency, suffered steep losses though it has recovered some of those declines. Other currencies including Dogecoin and Ethereum also lost ground.
Pink's Bottom Line
While cryptocurrencies have emerged as an alternative asset class and have become a mainstream investment for both the retail and institutional investors, it will be important to watch the reaction to this week’s slide in their values.
If the market shrugs off these losses, that bodes well for their staying power as an alternative asset class.
However, if some investors get skittish and flee the market because of these swift, sharp losses, that could hinder the longer term adoption of cryptocurrencies.
SPORTS: WNBA Emerging Star
Sabrina Ionescu of the WNBA’s New York Liberty recorded a triple double in her team’s victory last night.
It is only the tenth triple double ever recorded in the history of the WNBA, and Ionescu became the youngest player ever to achieve that feat.
(Note: A triple double in basketball occurs when an individual player records 10 or more each of points, assists and rebounds in a single game.)
Pink's Bottom Line
Because she plays in the media rich New York market, she’s likely to garner even more attention than she would have generated on nearly any other team in the league.
That’s a good for sign for the WNBA as Ionescu’s star power should help build the overall popularity — and television viewership — of the league.
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)