Pink's Bottom Line on Media, Money and Sports
Sports rights and video streaming, office occupancy rates and a major trade in the NBA
Today marks the official one-year anniversary of Pink’s Bottom Line on Media, Money and Sports. Thanks to everyone’s support in the past year. Also, just last week, we signed up more new subscribers than any other week in 2021. Now, here’s the first edition of the second year.
MEDIA: Sports Rights and Video Streaming
Barstool Sports, the popular digital sports and pop culture media company, is becoming the official sponsor of the Arizona Bowl, one of college football’s many bowl games.
Click here to read an excellent overview on the Barstool-Arizona Bowl deal from Barstool’s inimitable founder, Dave Portnoy.
Pink's Bottom Line
Notably, Barstool also now has video streaming rights to the game, which means that the Arizona Bowl now will air only digitally, not on traditional linear television.
While the Arizona Bowl is not one of the biggest college football bowl games, the move to digital for the live game is the latest sign that video streaming is making inroads just about everywhere, including live sports.
Look for other digital only sports rights deals to emerge in the next year, likely among minor college programs or among less mainstream professional sports leagues.
MONEY: Office Occupancy
Office occupancy rates, a barometer of how many employees are going back to work in offices, rose slightly last week, according to the Kastle Systems Back to Work Barometer.
Office occupancy in ten major cities rose to 34.8% last week, up slightly from the previous week according to data from Kastle Systems, an office security company.
Pink's Bottom Line
Cities in Texas — Austin, Dallas and Houston — show the highest occupancy rates while cities in Northern California — San Francisco and San Jose — have the lowest occupancy rates, according to Kastle data.
In any case, with the recent resurgence in coronavirus cases due to the Delta variant and to the large number of unvaccinated Americans, office occupancy rates could begin to decline.
However, occupancy rates should be at much higher levels by the end of the year as more companies begin to require vaccinations for their employees.
SPORTS: NBA Trade
Westbrook, a former league MVP with the ability to get a triple-double in virtually every game, will join superstars LeBron James and Anthony Davis on the Lakers.
Pink's Bottom Line
Additionally, the NBA title chances of the Lakers actually improved in many sportsbooks following the news of the Westbrook trade.
According to FanDuel Sportsbook, the Lakers are currently the second favorite to win the NBA title at +440, trailing only the Brooklyn Nets at +220.
That said, the Lakers will need a lot more than Westbrook to compete for the NBA title next season — Los Angeles still needs perimeter shooting and defense if it wants to vie for another championship.
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)