Pink's Bottom Line on Media, Money and Sports
Newsy's launch, consumer confidence and NBA title favorites
In today’s newsletter, I discuss Newsy's launch, consumer confidence and NBA title favorites.
MEDIA: Newsy Launches
Newsy, a 24-hour free to air television news network owned by Scripps, launched earlier this week.
Newsy says that its service will reach more than 90% of television homes in the United States, and it says it will offer “opinion free” news.
Pink's Bottom Line
Newsy joins a crowded market for 24-hour television news with CNN, Fox News and MSNBC as the three established networks along with newcomer NewsNation, which rebranded from WGN earlier this year.
Additionally, news coverage is ubiquitous across all types of digital media, so Newsy will have to find a way to carve out an audience in a brutally competitive marketplace.
MONEY: Consumer Confidence
Consumer confidence fell for the third consecutive month in September, according the Conference Board’s Consumer Confidence Survey released last week.
(Note: A level of 100 indicates consumers are more confident about the future, and level below 100 indicates they are less confident.)
Pink's Bottom Line
As the Delta variant spread throughout much of the summer, it appears that consumer confidence levels fell.
However, with the recent decline in coronavirus cases, the next reading of consumer confidence could tick higher.
If that does happen, it would suggest that consumers are feeling better heading into the all important holiday shopping season.
SPORTS: NBA Title Favorites
NBA.com this week released a survey of NBA general managers, and those executives overwhelmingly predicted that the Brooklyn Nets will win the NBA title this season.
Pink's Bottom Line
The sports betting markets seem to agree — according to FanDuel Sportsbook, the Nets at +210 are the favorite to win the NBA title followed by the Lakers at +450 and the Bucks at +800.
However, last year the Nets struggled with injuries among its three superstar players — Kevin Durant, James Harden and Kyrie Irving — and they likely will need all three healthy to win the title this year.
Additionally, Irving reportedly has yet to be vaccinated for coronavirus, which would limit his availability this season.
As such, the Bucks, which return the key players from their championship team, could quietly emerge as the favorite to capture the title very soon.
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)