Pink's Bottom Line on Media, Money and Sports
Spending on content, Robinhood's IPO and Roger Federer
In today’s newsletter, I discuss the increased spending on video content, Robinhood’s IPO and Roger Federer.
MEDIA: Spending on Content
Spending on video content grew sharply in 2020 as video streaming platforms grew in popularity.
According to data from Purely Streamonomics, spending on video content grew 16.4% in 2020 compared to 2019 to more than $220 billion.
Pink's Bottom LineNotably, in North America alone, spending on that content grew at roughly the same pace as it did globally, up 16.1% in 2020 compared to 2019 to $149.3 billion with Disney+, Warner/Discovery and Netflix as the biggest spenders.
As video streaming continues to grow in popularity, high quality content becomes even more of a priority for the video streaming platforms of big media.
As such, look for spending on content to continue to grow sharply in the next few years for big media.
MONEY: Robinhood IPO
Robinhood will trade on the NASDAQ under the ticker symbol HOOD, and the listing will likely attract a lot of interest from retail investors.
Pink's Bottom LineThe Robinhood app soared in popularity in the past year, and the company grew significantly as an increased number individual investors traded stocks.
Additionally, the IPO market in the United States has been red hot, and it hasn’t shown any signs of cooling down any time soon.
As such, if Robinhood’s IPO performs well — and if the stock trades strongly after its public listing — it could be an indication that the retail investing boom just might have some legs.
SPORTS: Roger Federer
Roger Federer, 39, one of the greatest men’s tennis players of all time, won his second round match at Wimbledon today to become the oldest men’s player since 1975 to reach the third round of the tournament.
While Federer holds the men’s record for the most Wimbledon titles in history with eight, he still is not expected to win the tournament this year.
According to FanDuel Sportsbook, Federer is +1200 to win Wimbledon this year behind word number two Daniil Medvedev at +700, and world number one Novak Djokovic who is the overwhelming favorite at -185.
Pink's Bottom LineThose odds not withstanding, this may be Federer’s best chance to capture his ninth title as two top players are no longer in the men’s draw.
Rafael Nadal withdrew before the tournament began, and world number four Stefanos Tsitsipas lost in the first round.
If, however, Federer does lose his third round match on Saturday, it just might be the last time we ever see him play at Wimbledon.
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)