Pink's Bottom Line on Media, Money and Sports
Top apps in June, mortgage applications and an emerging Super Bowl contender
In today’s newsletter, I discuss the most downloaded non-gaming apps in June, declining mortgage applications and an emerging Super Bowl contender.
MEDIA: Top Apps in June
The top ten most downloaded non-gaming apps globally in June didn’t contain any surprises, according to SensorTower, an app data and analytics company.
In fact, the top nine most downloaded apps in June were exactly the same as in May. The only change in that top ten list? Google Meet was the tenth most downloaded in June while Josh, a video sharing app, was the tenth in May.
TikTok again was the most downloaded non-gaming app last month, followed by four apps from Facebook — the Facebook app itself, Instagram, WhatsApp and Messenger, according to SensorTower.
Pink's Bottom LineMeanwhile, CapCut, a video editing app from TikTok’s parent company ByteDance, finished as the eighth most downloaded non-gaming app globally, according to SensorTower.
CapCut appeared on SensorTower’s top ten list in March for the first time, and it has remained among the top ten apps ever since.
That suggests that apps from ByteDance, including TikTok and CapCut, are becoming more and more influential globally.
MONEY: Mortgage Applications
Mortgage applications fell to their lowest level since the beginning of last year, according to a weekly survey conducted by the Mortgage Bankers Association (MBA).
Applications for the week ending July 2 slipped 1.8% from the prior week, the second consecutive week-over-week decline, according to that MBA survey.
Pink's Bottom LineMortgage applications fell despite declining rates on traditional 30-year mortgages — a lower mortgage rate can act as a catalyst for increased applications.
Additionally, home prices also continue to rise across the country, which likely is also putting a damper on new mortgage applications.
If mortgage applications continue to decline, that will have negative implications for the housing market, which has been a stalwart of the economy since the pandemic began.
SPORTS: Emerging Super Bowl Contender
With NFL training camps opening later this month, the NFL preseason will soon be underway, and the Kansas City Chiefs look like the team to beat this year.
According to FanDuel Sportsbook, the Chiefs at +500 are the favorites to win the Super Bowl followed by defending champion Tampa Bay at +650.
Interestingly, the Los Angeles Rams at +1400 are tied as fifth favorites to win it all in the NFL this year, according to FanDuel.
Pink's Bottom LineThe Rams will be one of the most intriguing teams in the NFL this season. Matthew Stafford is their new starting quarterback, which will likely make the team more dynamic on offense this season compared to last year.
Additionally, the team boasts a strong defense led by superstar defensive tackle Aaron Donald, and the Rams have one of the top coaching staffs in the league.
As such, look for the Rams to make a deep run in the playoffs this year perhaps all the way to the Super Bowl, and look for Stafford to emerge as a top MVP candidate along the way.
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)