Pink's Bottom Line on Media, Money and Sports
TikTok, car prices and the Australian Open tennis tournament
In today’s newsletter, I discuss the popularity of TikTok, car prices in the United States and the Australian Open tennis tournament.
MEDIA: TikTok Popularity
In my very unofficial review of both Apple’s App Store and Google’s Play Store, I noticed that TikTok, the short video social media service, was the most downloaded free app in both stores earlier today.
TikTok’s popularity undoubtedly has soared in the past year or two, and 62% of its users were between the ages of ten and 29 as of June last year, according to data from Statista.
Pink's Bottom Line
That younger demographic is coveted by advertisers, particularly as teens and those in their 20s embrace new, digital media platforms and shun traditional media like linear television and radio.
That’s why last week’s announcement of a content partnership between the UFC and TikTok made perfect sense.
Both the UFC and TikTok appeal to that younger demographic, and the combination of the two could become a model for how to reach that coveted group.
Expect other major sports — particularly those that are looking to reach a younger audience — to strike similar deals with TikTok this year.
MONEY: New Car Prices
New car prices climbed last month compared to January 2020, according to data from Kelly Blue Book.
The average price rose more than 5% last month compared to January 2020 to remain above $40,000 per vehicle, according to Kelly Blue Book, though the average price in January slipped compared to December.
Interestingly, minivans and luxury cars were the two categories with the biggest annual average increases in price, according to Kelly Blue Book.
Pink's Bottom Line
While the US economy struggles to recover from the coronavirus pandemic, new car prices are still managing to show momentum.
Used car prices have also held up during the pandemic, suggesting that the auto market at large has endured during the past year.
Auto sales — both new and used — should remain solid during the rest of the year, especially as the coronavirus gets more under control and if the government’s new stimulus package is implemented soon.
SPORTS: Djokovic Wins Australian Open
Novak Djokovic is now making the case that he just might be the greatest player of all time, better even than his rivals Roger Federer or Rafael Nadal.
Djokovic, currently the top ranked men’s tennis player in the world, won the Australian Open today, handily beating fourth-seeded Daniil Medvedev in straight sets.
It’s Djokovic’s ninth Australian Open victory and his 18th major championship, putting him just two grand slam titles behind both Federer and Nadal for the most of all time.
Pink's Bottom Line
In March, Djokovic will have held the number one ranking for 311 weeks during his career, which would mark the most time at number one in the world for any player.
Additionally, Djokovic has winning records versus both Federer and Nadal in head-to-head matches.
Career grand slam titles won, though, still is probably the best measuring stick to determine the greatest player of all time.
The way Djokovic is playing now — and the fact that he is younger than both Federer and Nadal — puts him in position to capture the most career major titles and to stake his claim as the best men’s tennis player of all time.
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)