Pink's Bottom Line on Media, Money and Sports
Television advertising revenue for the Summer Olympic Games, retail sales in the United States and arguably the best young men's professional golfer in the world
After a much needed week of vacation, it’s good to get back to writing this newsletter. In today’s edition, I discuss television advertising for the Summer Olympic Games, retail sales in the United States and arguably the best young men's professional golfer in the world.
MEDIA: Olympics Television Advertising
Television advertising revenue in the United States for the Summer Olympic Games that begin later this week could reach an all-time high of $2.25 billion, according to a forecast from Kantar, a data and research company.
If domestic television ad revenue does hit $2.25 billion, that would be an increase of more than 21% compared to 2016, the last time the Summer Olympics were held.
Pink's Bottom Line
Notably, 63% of Americans are interested in viewing the Olympics, according to Kantar.
As such, television viewership for this year’s Summer Olympic Games, which have been postponed a year due to the coronavirus pandemic, will be closely monitored as the Games are still likely to reach a large, diverse traditional television audience.
While digital advertising for the Olympics also is growing, television remains the behemoth when it comes to generating ad revenue — and it looks like it will be that way for the foreseeable future.
MONEY: Retail Sales
Retail sales, a major driver of economic activity in the United States, rose in June, according to a government report released last week.
Sales jumped 0.6% last month compared to May, and they soared 18% compared to June 2020 during the height of the pandemic, according to that report.
The government also revised downward its retail sales report for May — retail sales in May fell 1.7% compared to April, a bit worse than the originally reported 1.3% decline.
Pink's Bottom Line
Notably, auto sales declined in June, reflecting the tight inventory of cars available, while sales at gas stations rose last month, likely due to increased demand from the summer driving season and to higher gasoline prices.
Sales at electronics and appliances stores increased in June compared to May as did sales in restaurants and bars, according to that report.
Overall, June’s retail sales report looked very healthy, indicating a continued strong economic recovery in the United States.
SPORTS: Open Champion
Collin Morikawa emerged this weekend as perhaps the best young men’s golfer in the world after winning The Open Championship in England.
Morikawa, 24, outlasted veterans Jordan Spieth and Louis Oosthuizen among others to capture the second major of his career.
Notably, it was also Morikawa’s first time playing in The Open Championship — he also won the PGA Championship the first time he played in that major tournament.
Pink's Bottom Line
It’s quite a feat to win two majors at such a young age, particularly considering that Morikawa played in his first professional tournament a little over two years ago.
Morikawa has a solid all around game with no real weaknesses, and he was very successful both as a college player and as an amateur.
Most importantly, Morikawa looks unflappable when he plays and appears to handle pressure exceptionally well — those are indications he’ll likely be competitive in golf’s major tournaments for years to come.
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)