Pink's Bottom Line on Media, Money and Sports
Top items and takeaways from the week from the worlds of media, money and sports
Here are the top items and takeaways from the week from the worlds of media, money and sports.
MEDIA
Pink’s Bottom Line: As streaming becomes more and more popular, consumers will continue to favor bigger screen — like smart televisions — as a preferred way to consumer video content especially compared to smaller mobile devices.
Pink’s Bottom Line: That strong box office performance suggests that the movie business is indeed rebounding, though with sharply rising inflation, that rebound will come under pressure as potential moviegoers will have less discretionary income to spend for at least the rest of the year.
Pink’s Bottom Line: While that decline in new net broadband subscribers is not particularly alarming for the cable and phone companies, the rollout of home wireless broadband offerings this year will put those subscribers numbers under far more pressure in the coming months.
MONEY
Pink’s Bottom Line: Notably, only 19% of those surveyed said the pandemic is a major problem, indicating, not surprisingly, that the economy — and inflation — will likely be the most important issues for voters heading in to this year’s midterm elections.
Pink’s Bottom Line: With the summer driving season beginning in just a few days, gasoline prices will remain at or near record levels until at least the fourth quarter even if gasoline supplies increase.
Pink’s Bottom Line: Consumer spending, which accounts for roughly two-thirds of all economic activity in this country, must remain robust in order for the country to avoid a major slowdown this year though major retailers will feel the impact of inflation on their bottom line regardless of spending patterns.
SPORTS
Pink’s Bottom Line: Although Miami won last night’s game to take a 2-1 lead in the series against Boston, Butler is just the latest impact player to suffer an injury in this year’s playoffs, which means that the healthiest team, not necessarily the best team, probably will win the NBA title this year.
Pink’s Bottom Line: The Yankees have the best record in the majors thanks in part to the power barrage from Judge, the latest sign that home runs play an outsized role in the success of major league teams in the current era of baseball.
In men’s tennis, Rafael Nadal is the third favorite to win the French Open, the second major tournament of the year, which began today, according to FanDuel Sportsbook.
Pink’s Bottom Line: Although Nadal is a 13-time winner of the French Open, world number one Novak Djokovic and teen sensation Carols Alcaraz each have better odds to win the tournament this year, suggesting that Nadal’s seemingly unstoppable reign at Roland Garros just might be ending.
Jeremy Pink 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.
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(Newsletter Editor: Karina Pink)