Pink's Bottom Line on Media, Money and Sports

TikTok, home prices and the NFL's Kansas City Chiefs

In today’s newsletter, I discuss TikTok, home prices and the NFL’s Kansas City Chiefs. Also, I am speaking at The Money Show next week — click here to register for this free, virtual event.

MEDIA: TikTok Hits a Billion Monthly Users

TikTok, the wildly popular short video sharing app, said Monday that it now has one billion monthly users on its platform.

For readers of this newsletter, you already know that TikTok has been the most downloaded non-gaming app in the world for many months.

Pink's Bottom Line

TikTok’s popularity surged during the pandemic as consumers around the world turned to social media in general as a way to communicate with one another.

Now, with TikTok’s reach so vast, the company is looking to expand its revenue base beyond the consumer and is turning to business.

As such, look for that trend of businesses tapping social media of all types for more revenue in the coming months.

MONEY: Home Prices Climb Again

Home prices climbed again in July, according to the S&P Corelogic Case-Shiller Index, a widely used measure of home prices in the United States.

According to that index, home prices soared 19.7% on an annualized basis in July, following a rise of 18.7% annually in June.

Pink's Bottom Line

Once again, home prices in western cities in the country soared the most, with prices in Phoenix up 32.4% on an annualized basis.

Prices in San Diego rose 27.8% annually, and prices in Seattle jumped 25.5% annually, according to Case-Shiller.

As such, the inexorable climb in home prices continues though if mortgage rates start to increase, the rate of these price increases may soon slow.

SPORTS: Kansas City Chiefs

The NFL’s Kansas City Chiefs, a favorite to win the Super Bowl before this year’s season began, now find themselves in last place in the AFC West, two games behind both Denver and Las Vegas.

The Chiefs have suffered two consecutive crushing losses to the Baltimore Ravens and to division rival San Diego last Sunday.

Pink's Bottom Line

While it is still very early in the season, Kansas City doesn’t have much margin of error now if the team wants to make the postseason.

The Chiefs should win next week against the Philadelphia Eagles, a team that appears to be in disarray, and Kansas City plays the Buffalo Bills, one of the top teams in the AFC, the following week.

If the Chiefs win both of those games, then they will have righted their ship for this season — if they lose one of those games, the team will have an even more surmountable hurdle to make the playoffs.

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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)