Pink's Bottom Line on Media, Money and Sports
Digital video stats, Coinbase results and NFL quarterbacks
In today’s newsletter, I discuss digital video statistics, Coinbase’s strong results and NFL quarterbacks.
MEDIA: Digital Video Stats
Netflix, Disney and YouTube account for the majority of over-the-top (OTT) video subscription revenue, according to eMarketer, which recently published its Q1 Digital Video Trends report.
According to that report, 69.3% of all subscription revenue went to those three companies. (Note that revenue for Disney includes revenue for Disney+, ESPN+ and Hulu.)
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Additionally, consumers are forecast to view 5.3% more minutes of digital video per day in 2021 than in 2020, according to that report — consumers are forecast to watch an average of 140 minutes of digital video per day in 2021.
Notably, that report also says that consumers will watch 7% fewer minutes of traditional linear television this year compared to 2020 — viewers are expected to watch 199 minutes per day of linear tv this year.
If these trends continue, it might only be a matter of a few years before digital video consumption is greater than traditional linear tv consumption in the United States.
MONEY: Coinbase Performance
Coinbase, which serves as an exchange platform where users can buy and sell cryptocurrency, today released estimated results for the first quarter.
Coinbase said that revenues for the first quarter total $1.8 billion — that compares to $190 million in the first quarter of last year. It also projected net income to come in between $730 and $800 million this quarter.
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Coinbase released these strong first quarter numbers just ahead of next week’s planned initial public offering.
(Click here to see the Coinbase’s S-1 filing, a filing with the SEC that provides detailed information about a company that plans to go public.)
Coinbase’s results appear to confirm that the entire cryptocurrency ecosystem has come of age and that cryptocurrencies look likely to become even more mainstream.
SPORTS: NFL Quarterbacks
The NFL’s New York Jets yesterday traded quarterback Sam Darnold to the Carolina Panthers for a trio of draft choices.
The Jets, who have the second pick in the NFL Draft later this month, are likely to select quarterback Zach Wilson of Brigham Young.
Meanwhile, Carolina will now turn to Darnold, who was the third overall pick in the draft by the Jets just three years ago, as the team’s likely starter.
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That means that it’s now almost certain that the first three picks in the drafts, held by Jacksonville, the Jets and San Francisco, will be quarterbacks.
Atlanta has the fourth pick but it’s unclear whether the Falcons will use their selection on a quarterback.
If they don’t, look for Atlanta to trade that pick to Denver — or possibly New England — where either of those teams will select a quarterback with that fourth pick in the draft.
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)