In today’s newsletter, I discuss two key developments in the world of podcasting, a key corporate appointment in the world of cryptocurrencies and the ever-changing world of the NFL Draft.
MEDIA: Podcasting Developments
There were two interesting developments in the world of podcasting today involving big media, big tech and a professional sports league.
First, iHeartMedia, one the biggest audio focused companies in the country, says it will work together with the NFL to launch a podcast network including distribution of the NFL’s already existing podcasts.
Second, Apple said today that it will launch its own subscription podcasting service next month.
Pink's Bottom Line
These two developments show just how fierce — and fast-moving — competition has become in the podcasting industry.
In the past year, the industry has consolidated with major players involved in mergers and acquisitions including Amazon, SiriusXM and Spotify among others.
Look for much more consolidation — and more partnerships like the one between iHeartMedia and the NFL — for at least the remainder of this year.
MONEY: Cryptocurrency Regulation
Binance.US, a large cryptocurrency exchange, appointed a new CEO today who has a deep regulatory background.
Brian Brooks, who temporarily headed up the Office of the Comptroller of Currency, will assume the helm of Binance.US on May 1. (Click here to read the press release on Brooks and Binance.US.)
Pink's Bottom Line
As cryptocurrencies becomes more and more mainstream, they undoubtedly will come under greater scrutiny from regulators in the United States and elsewhere.
The appointment of Brooks, an experienced regulator, indicates that Binance.US anticipates that a CEO with a strong regulatory background will be important as the exchange navigates its growth and development.
SPORTS: NFL Draft
If you read the countless NFL Mock Drafts that have been published in the last few days, most of them have Alabama quarterback Mac Jones going as the third pick in next week’s draft to the San Francisco 49ers.
However, the betting markets tell a different story. According to FanDuel Sportsbook, for example, Ohio State quarterback Justin Fields is the slight favorite to become the third pick at +105 while Jones is +115.
(Note: Quarterback Trevor Lawrence of Clemson and quarterback Zach Fields of Brigham Young are widely expected by the betting markets to be the first and second picks, respectively.)
Pink's Bottom Line
Notably, quarterback Trey Lance of North Dakota State is +270 to be the third pick, according to FanDuel, suggesting that the 49ers are still considering Lance as well as Jones and Fields for that third pick in the draft.
Since San Francisco already has Jimmy Garoppolo on its roster as a quality starting quarterback, I think that Lance makes the most sense as a draft selection for the 49ers.
Lance has more upside than Jones and Fields, plus he can learn as an understudy to Garoppolo for a year before assuming the starting role for San Francisco in the 2022 season.
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)