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 takeaway this week from the world’s of media, money and sports.
MEDIA
Billionaire Elon Musk’s aggressive bid to buy Twitter looks like it could be thwarted.
Pink’s Bottom Line: Twitter should be treated and regulated like a utility, not a typical private company, and Musk’s bid to buy Twitter ultimately will become the catalyst that will force U.S. regulators to change the way they look at the company.
Pink’s Bottom Line: Notably, ad revenue for digital and digital audio both jumped more than 50% on an annual basis, indicating that those two types of streaming media continue to show explosive growth.
Pink’s Bottom Line: As digital news publications examine their current business models, many companies like Quartz are turning to free content rather than subscriptions to drive revenue and profitability.
MONEY
Pink’s Bottom Line: In that report, sales of non-store retailers actually declined on a month-to-month basis, showing a slowdown in e-commerce sales, which had been growing strongly since the pandemic began two years ago.
Pink’s Bottom Line: That average occupancy rate now stands at 43.1% in those ten cities, a high water marker since the pandemic began and yet another data point showing that workers are returning to the office at a rapid clip.
Pink’s Bottom Line: CPI-W, which measures consumer prices for wage and clerical workers, rose a steeper 9.4% over the past 12 months, indicating that inflation is hitting lower-income workers harder than the population in general.
SPORTS
Pink’s Bottom Line: Edwards, the top pick of the 2020 NBA Draft, scored 36 points in Minnesota’s Game 1 victory over the Memphis Grizzlies in the first round of their playoff series Saturday, and Edwards looks like he could carry the Timberwolves deep into the postseason if he plays like he did Saturday.
Pink’s Bottom Line: Guerrero, who is already a superstar, will become the most talked about player this year in major league baseball, a sport desperate for a breakout player and personality like Guerrero.
Pink’s Bottom Line: Interestingly, the top five favored teams — the Bills followed by Tampa Bay, Kansas City, the Los Angeles Rams and Green Bay — have arguably the top five quarterbacks in the NFL, underscoring yet again that the quarterback position is the most important position in professional football.
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)