In today’s newsletter, I discuss the world’s most downloaded non-gaming apps, inflation in the United States and the NBA’s Los Angeles Lakers.
MEDIA: Most Downloaded Apps
Facebook remained a juggernaut in the app world in March, according to data from SensorTower, an app data and research company.
Facebook, Instagram, WhatsApp and Messenger — all apps owned by Facebook — ranked as the second, third, fourth and fifth most downloaded non-gaming apps, respectively, in the world in March, according to SensorTower.
TikTok, the popular short-video sharing app, was the most downloaded non-gaming app in the world last month, according to SensorTower data.
Pink's Bottom Line
Josh, a short video sharing app from India, and CapCut, a photo and video editing app, also ranked in the top ten most downloaded non-gaming apps, according to SensorTower data.
Other apps in that top ten include Snapchat, Zoom and Telegram, a messaging app, according to the data.
As such, video and messaging related apps dominate this list, suggesting the durable popularity, power and reach of these types of apps.
MONEY: Inflation at the Wholesale Level
Prices at the wholesale level surged last month, according to the government’s Producer Price Index (PPI) report released Friday.
The PPI jumped 1% in March, and for the past 12 months, prices at the wholesale level increased 4.2%, the largest 12-month increase in nearly ten years, according to that report.
Pink's Bottom Line
With rock bottom interest rates, a new government fiscal stimulus package and a reopening of many states following the coronavirus pandemic, conditions are ripe for inflation.
It already appears that inflation has taken hold at the wholesale level, and on Tuesday we’ll see if that has also translated to the consumer level — that’s when the government releases its Consumer Price Index (CPI) report.
That CPI report is important to watch as inflation — especially at the consumer level — could create headwinds to the overall economic recovery
SPORTS: Los Angeles Lakers
The NBA’s Los Angeles Lakers, though currently fifth in the standings in the league’s Western Conference, still remain the second favorite behind the Brooklyn Nets to win the NBA title, according to FanDuel Sportsbook.
The Lakers are +350 to win it all while the Nets are +230 to capture the title, according to FanDuel Sportsbook.
Notably, the Lakers handily beat the Nets last night despite playing without their two superstar players, LeBron James and Anthony Davis, who have been sidelined with injuries.
Pink's Bottom Line
The Lakers have slid in the standings in the Western Conference recently largely due to the absence of James and Davis.
However, last night ESPN reported that both players could return to the lineup soon, well before the team’s playoff run.
If both James and Davis do return in the next few weeks, watch out — the Lakers could peak just in time for the playoffs.
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)