Pink's Bottom Line on Media, Money and Sports
Convention viewership, housing messages and Luka's transcendent performance
Here’s today’s edition of the newsletter. I hope everyone has a great week.
MEDIA: Convention Viewership
While viewership on Days 3 and 4 of the Democratic National Convention (DNC) grew from Days 1 and 2, ratings for the convention overall still fell short of 2016’s numbers, according to data from Nielsen.
More than 24.6 million watched live on television on Thursday night on Day 4 of the convention, when Democratic Presidential nominee Joe Biden spoke. That compares with an estimated 19.7 million who watched on Day 1 or about a 24.6% increase.
However, Day 4 of 2020 viewership fell 17.4% compared to Day 4 viewership in 2016, according to the Nielsen data.
(Note: all viewership numbers reflect the television viewing audience only, and do not include those who watched on digital platforms.)
Pink's Bottom LineMonday marks the beginning of the Republican National Convention (RNC), and we’ll be closely watching ratings for that event.
If we see a similar decline in television viewership for the RNC in 2020 compared to its numbers from 2016, it could very well signal a meaningful shift of consumption on digital platforms.
It could also very well signal that the conventions aren’t as important for voters as they used to be.
MONEY: Housing Messages
Two reports. One very positive message. One mixed message.
The positive: The National Association of Realtors said Friday that sales of existing homes rose in July, up 24.9% percent compared to June. The trade group also said prices also rose last month, up 8.8%, compared to July 2019.
The mixed message: Black Knight says that fewer people overall made late payments on their mortgages in July compared to June, but that serious delinquencies (those who haven’t made payments in more than 90 days) actually rose sharply in July compared to June.
(Note: year over year comparisons show sharp increases in both short and long term mortgage delinquencies.)
Pink's Bottom LineThe housing market is showing strong signs of growth, particularly on the sales front. That’s very encouraging. However, more homeowners appear to be struggling to make mortgage payments. That’s not so encouraging.
As we get more data for August and September, we’ll get a much better indication of just how strong the housing market really is.
SPORTS: My Name Is Luka
If you didn’t see Sunday’s NBA Playoff game between the Dallas Mavericks and the Los Angeles Clippers earlier today, you missed a transcendent performance by Mavericks’ second-year player Luka Doncic.
Doncic scored 43 points, including the game winning three-pointer at the buzzer in overtime, to lead Dallas to a 135-133 victory over the favored Clippers to tie their first-round playoff series at two games apiece. For good measure, Doncic also had 17 rebounds and 13 assists.
Oh, and he did all of this on a sore ankle.
Pink's Bottom LineWith today’s performance, Doncic, 21, recorded his second consecutive triple-double of the series.
Doncic, 21, already joined rarefied company Friday when he became the third youngest player in NBA playoff history ever to a record a triple-double in the playoffs. The other two players to accomplish that feat? Magic Johnson and Michael Jordan.
When we look back in ten to 15 years, I think Doncic’s performance Sunday against the Clippers will stand out as one of the key early moments in what’s sure to be a Hall of Fame career.
Jeremy Pink is former CEO of Broadcast Sports International and a former CNBC executive in New York, London and Singapore. He currently serves as an advisor to companies in media, sports and financial tech.
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.