Pink's Bottom Line on Media, Money and Sports
Global spending on video apps, soaring home prices and the European soccer championship
In today’s newsletter, I discuss global spending on video apps, soaring home prices in the United States and the European soccer championship.
MEDIA: Global Spending on Video Apps
Global spending on apps surged in the first half of the year, according to estimates from Sensor Tower, an app data and analytics company.
Sensor Tower projects that spending on apps increased 24.8% the first six months of this year compared to the same time period a year ago — that equates to $64.9 billion spent on apps in the first half of the year.
Pink's Bottom LineNotably, two video apps — TikTok and YouTube — were the highest grossing non-gaming apps, according to Sensor Tower estimates.
In total, six video related apps — including Disney+ and Twitch in addition to TikTok and YouTube — ranked among the top ten highest grossing non-gaming apps in the first six months of this year, according to those Sensor Tower estimates.
Those estimates demonstrate both the enduring popularity and revenue generating capability of video apps on mobile platforms.
MONEY: Soaring Home Prices
Home prices in the United States increased sharply in April, according to the S&P CoreLogic Case-Shiller Index, a leading gauge of home prices in the country.
According to the Case-Shiller Index released earlier today, home prices increased 14.6% in April on an annual basis following a 13.3% year-on-year increase in March.
Pink's Bottom LinePhoenix, San Diego and Seattle showed the heftiest annual price increases, according to Case-Shiller.
Prices in Phoenix soared 22.3% year-on-year while home prices in San Diego and Seattle jumped 21.6% and 20.2%, respectively, on an annual basis.
This data is further evidence that the nation’s housing market remains hot, and that housing markets in cities in the western part of the country are even hotter.
SPORTS: Euro 2020 Football Championship
(Note: The European soccer championship is held every four years, and it is one of the biggest sporting events across the continent.)
Earlier today, England defeated German 2-0 to earn a birth in the quarterfinals of Euro 2020 against Ukraine on Saturday.
Notably, it is the first time that England has defeated Germany in a knockout match in a major international tournament since 1966 when England won the World Cup.
Pink's Bottom LineEngland’s national team also is now in position to win the European championship for the first time in its history.
According to FanDuel Sportsbook, England is the favorite to win Euro 2020 at +170. Spain, at +300, is the second favorite.
If England does win the European championship — particularly with a victory against Germany along the way — it will likely be considered one of the most important sporting achievements in history for England.
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)