Pink's Bottom Line on Media, Money and Sports

New video streaming service, US unemployment and the NBA's trade deadline

In today’s newsletter, I discuss a new video streaming service, declining US jobless claims and the NBA’s trade deadline.

MEDIA: New Video Streaming Service

Univision, a large Spanish language media company, is launching its own video streaming service called PrendeTV next Monday.

PrendeTV will feature a number of channels as well as an on-demand library of content — all content will be in Spanish.

(Click here to read the original press announcement from Univision in January about PrendeTV.)

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Univision also reportedly will put its marketing and advertising muscle behind PrendeTV, according to multiple news reports including this story from The Hollywood Reporter.

The launch and development of PrendeTV is yet another indication of just how important video streaming has become to nearly all major media companies in the United States.

It also shows once again that 2021 is potentially shaping up as a year when video streaming in this country could reach its most competitive point.

MONEY: Jobless Claims

There was some encouraging news today related to the nation’s stubbornly high level of unemployment.

The government reported today that first time jobless claims in this country fell to 684,000 for the week ending March 20 — that’s the lowest level of the pandemic era, though it’s still sharply higher than pre-pandemic levels.

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That said, the weekly jobless claims number appears to be trending lower, which is a good sign for an overall US economic recovery.

As more people join or rejoin the workforce and as many Americans begin to receive government stimulus payments, that bodes well for consumer spending, which is critical to economic recovery.

That’s because consumer spending accounts for as much as 70% of overall economic activity in this country.

SPORTS: NBA Trade Deadline

The NBA’s trade deadline ended earlier today, and there was a flurry of activity around the league.

Perhaps the two most intriguing trades involved two conference finalists from last season — the Denver Nuggets and the Miami Heat.

According to ESPN, Denver picked up Aaron Gordon in a trade from the Orlando Magic. Gordon was Orlando’s top draft pick from 2014, and he currently averages 14.6 points per game for the Magic.

Meanwhile, Houston traded Victor Oladipo to the Miami Heat, also according to ESPN. Oladipo currently averages 20.8 points per game for the Rockets.

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The Nuggets made the Western Conference Finals last year, but they looked like the fourth or fifth best team in the West this season until they added Gordon to their roster.

Suddenly, the Nuggets look more formidable, and they could be a real threat to return to the Western Conference Finals.

Miami, with the addition of Oladipo, now vault in to the top tier of teams in the Eastern Conference along with the Brooklyn, Milwaukee and Philadelphia.

In fact, I now see Miami as the second favorite to win the Eastern Conference behind the Brooklyn Nets.

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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)