Pink's Bottom Line on Media, Money and Sports

Election night ratings, tomorrow's unemployment report and the Masters Tournament

I discuss election night ratings, tomorrow’s unemployment report and next week’s Masters Tournament in today’s newsletter.

MEDIA: Election Night Ratings

As election coverage continues across many television networks 48 hours after Election Day, television ratings in primetime for election night itself show that fewer viewers watched the coverage on Tuesday compared to election night in 2016.

According to Nielsen data, this year 56.9 million tuned in to election coverage on television in primetime, down from 71.4 million who watched in 2016 — that’s about a 20% decline.

Pink's Bottom Line

While television viewership of election night did decline fairly sharply, I don’t believe it reflects a lack of interest in election coverage from consumers or diminishes the influence of television in any way.

As has been the trend for many years now, consumers get their news through a variety of sources other than traditional sources like television or print newspapers.

Those who might have watched election coverage on television in the past have probably migrated to get their information from other places like social media or news websites.

That said, 56.9 million is still a huge number of viewers — that reflects the importance and reach that the traditional television networks still maintain.

MONEY: Unemployment Report

In the fog of election coverage over the past couple of days, it’s easy to forget that tomorrow the US government releases its monthly unemployment report, one of the most important pieces of economic data that we get every month.

Most expect tomorrow’s report on October employment to show an increase in job creation and a modest decline in the unemployment rate, which is currently 7.9%.

Pink's Bottom Line

Additionally, as cases of coronavirus reach record levels in the United States, that unemployment report will give some indication just how much impact the pandemic itself had on job growth — and therefore on the overall economy — last month.

While it’s likely that we’ll get some positive news from that unemployment report tomorrow, the job market will still have a long way to go to recover all of the 22 million have been lost since the pandemic began.

SPORTS: Masters Golf

In a year when the coronavirus has upended virtually the entire professional sports calendar, the Masters Tournament, one of golf’s four major tournaments, also had to change its schedule.

The Masters, which is normally played every year in April, begins instead a week from today.

US Open champion Bryson DeChambeau is the favorite to win the Masters at +800, according to the FanDuel Sportsbook.

He’s followed by Jon Rahm (+1100), Dustin Johnson (+1200) and Rory McIlroy (+1300), according to FanDuel Sportsbook.

(Note: DeChambeau as +800 Masters favorite means that if a bettor waged $100 on DeChambeau and he won the Masters, that bettor would win $800.)

Pink's Bottom Line

As some readers of this newsletter might recall, I picked DeChambeau as one of the favorites to win the US Open, and I am picking him again to win the Masters.

He has extraordinary length off of the tee, which should suit him on the Masters course nicely.

DeChambeau will simply outhit the other players in the field, and he will consistently put himself in position for makeable birdies or easy pars.

---

Jeremy Pink is 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. Jeremy currently serves as an advisor to companies in media and financial tech.

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)