Pink's Bottom Line on Media, Money and Sports
Netflix subscriber growth, top housing markets and the Brooklyn Nets
In today’s newsletter, I discuss Netflix subscriber growth, top housing markets and the Brooklyn Nets.
MEDIA: Netflix Subscribers
After the markets closed Tuesday, Netflix reported its first quarter earnings, and the company’s stock price fell about 7% today following that report. (Click here to read the Netflix letter to shareholders about those earnings.)
Notably, Netflix said the number of new subscribers last quarter fell below projections and that it expected “slower membership growth” through the first half of the year.
Pink's Bottom LineWhile Netflix subscribers numbers did not meet the expectations on Wall Street and the company’s outlook for the first half of the year appears muted, Netflix still remains a juggernaut in video streaming.
Look for the company to show stronger subscriber growth in the second half of the year, particularly in the markets outside the United States where Netflix does not have the same market penetration as it does in this country.
As such, in the long term, the prospects for Netflix still look solid as it has growth opportunities globally, and it’s in the growth industry of video streaming
MONEY: Housing Markets
Smart Asset, a personal finance web site, just released what it calls its Top 10 Rising Housing Markets for 2021.
Smart Asset determines a rising housing market based on the change in home values, change in median income, population growth and other data points.
According to Smart Asset, seven of the top ten rising housing markets are in California, two are in Florida and one is in Colorado.
Pink's Bottom LineOakland ranks first on this rising housing market list thanks in part to an increased demand for housing and an increase in median home value, according to Smart Asset.
A strong housing market is key to a strong and sustained overall US economic recovery, and much of the data from Smart Asset’s rising housing markets appears encouraging.
SPORTS: Brooklyn Nets
James Harden of the Brooklyn Nets will be out indefinitely with a hamstring injury — Harden had been rehabbing that injury but suffered what the team Tuesday called a “setback” to that injury.
Harden is part of a trio of superstars along with Kevin Durant and Kyrie Irving that have catapulted the Nets as favorites to win the NBA title according to the betting markets.
The Nets are currently +220 to win the NBA championship followed by the Los Angeles Lakers at +350, according to FanDuel Sportsbook.
Pink's Bottom LineDurant has already missed a chunk of the season due to injury, and now Harden’s return to the lineup is uncertain. Irving has also missed some games due to personal reasons.
If the Nets are to win the title, they will need a healthy Harden, Durant and Irving playing together in the playoffs.
If that trio isn’t healthy, it opens up the Eastern Conference to a number of other contenders including the Philadelphia 76ers and the Boston Celtics who have both been playing great basketball recently.
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)