Pink's Bottom Line on Media, Money and Sports
Disney and Southeast Asia, home prices and the NFL Draft
In today’s newsletter, I discuss Disney and Southeast Asia, home prices in the United States and the NFL Draft.
MEDIA: Disney and Southeast Asia
Disney is making a move that could have broad implications for the pay television industry across Southeast Asia and Hong Kong.
The company said that it will shut down 18 of its linear television networks in Southeast Asia and Hong Kong as of October 1 though it will continue to offer four linear channels. (Click here to read the Variety story on Disney and Southeast Asia.)
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Disney’s move is another indication that major media companies are now emphasizing video streaming — and a direct to consumer model — over traditional pay television.
Notably, Disney is having tremendous success with its Disney+ video streaming service, which the company announced last month had topped 100 million worldwide paid subscribers.
Disney’s move to shutter many of its traditional linear channels probably won’t be an isolated event in the industry — look for other major media companies to do the same particularly in markets outside of the United States.
MONEY: Home Prices
There’s more data today that shows that home prices are increasing sharply in the United States.
The S&P CoreLogic Case-Shiller US National Home Price NSA Index, a leading gauge of home prices in this country, reported today that home prices rose 12% on an annual basis for the twelve months ending in February.
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Also, according to today’s Case-Shiller 20-City Composite Index, home prices for the twelve months ending in February among those 20 major cities, Phoenix soared the most, up 17.4%, and San Diego was next, up 17%.
In fact, of the 20 major cities in that Composite Index, 19 showed price increases on an annual basis for the twelve months ending in February compared to the the twelve months ending in January.
As such, the nation’s red hot housing market is showing few signs of cooling off, which will help the country’s overall economic recovery.
SPORTS: NFL Draft
With the NFL Draft just two days away, much of the focus — and rightfully so — has been on the outstanding crop of quarterbacks available this year.
It is possible that as many as five quarterbacks could be chosen among the first ten picks in this year’s draft.
However, it’s another likely top ten pick — tight end Kyle Pitts of Florida — who just might emerge as the best player in the draft when all is said and done.
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Pitts enjoyed a stellar college career at Florida, averaging 17.9 yards per catch and making 12 touchdown receptions in only eight games this past season.
According to many experts, Pitts could be a generational talent at the tight end position, a position that has grown in importance in the pass-happy NFL in the past ten years.
Expect Pitts to go as early as the fourth overall selection in the draft — he will also likely be the first selection who is not a quarterback.
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)