Pink's Bottom Line on Media, Money and Sports

Cable news networks, holiday spending and a promising NBA rookie

In today’s newsletter, I discuss cable news networks, holiday spending and a promising NBA rookie.

MEDIA: Cable News Networks

Cable news networks saw notable increases in the amount of ad impressions this year, according to a recent post from iSpot.tv, a television advertising solutions and analytics firm, called 2020 TV Advertising: Executive Insights.

According to iSpot.tv, ad impressions for CNN jumped 47.7% from January 1 to December 6 of this year compared to the same time period last year.

Ad impressions rose 40.7% at MSNBC and 27.2% at Fox News for the same time frame, according to iSpot.tv.

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Viewership at cable news networks — and ad impressions as a result — increased for three primary reasons in 2020.

First, consumers sought news and information on the coronavirus pandemic throughout the entire year.

Second, viewers demonstrated an insatiable interest in the Presidential elections, and key issues that framed that election including coronavirus response, social justice issues and the economy.

Third, much of the country spent the bulk of their time at home, and those home viewers consumed a steady diet of cable news.

As interest in the Presidential election fades and as the coronavirus pandemic gets more under control, a decline in cable news viewership for 2021 appears likely though I suspect viewership still will remain elevated well above pre-pandemic levels.

MONEY: Holiday Spending

Americans spent slightly more during the traditional holiday season this year compared to last year, according to data from Mastercard SpendingPulse, which reports on retail sales around the country.

For the period between November 1 and December 24, overall sales grew 2.4% compared to last year, though e-commerce sales surged 47.2%, according to Mastercard.

(Note: Sales grew 3% annually in the expanded holiday shopping season of October 11 to December 24, according to Mastercard.)

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Black Friday, not surprisingly, was the top shopping day of the holiday season, according to Mastercard, while December 12 was the third most popular day, likely because that was the last day that purchases could be online that would ship in time for Christmas.

This holiday shopping data again shows the strength of e-commerce, which saw consumers shop online in droves due largely to the coronavirus pandemic.

E-commerce sales, which might slip in 2021 compared to 2020 as more people get vaccinated for coronavirus and as stores around the country reopen, should nonetheless remain very strong for the foreseeable future.

SPORTS: Precious Draft Pick

While we’re just a couple games into the NBA regular season, there’s one rookie that has already looked impressive so far — the Miami Heat’s Precious Achiuwa.

The Heat selected Achiuwa, a 6’8” power forward from Memphis, as the 20th pick in this year’s draft.

In his first two games, Achiuwa averaged 9.5 points and three rebounds while playing about 16 minutes per game.

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Admittedly, it’s very, very early to extrapolate Achiuwa’s performance to a full season, but he does look like a promising pro.

Considering that the Heat made the NBA Finals last year and that the team has all of its core players returning this season, Achiuwa’s addition to the Heat could be just what’s needed for Miami again to win the Eastern Conference, which looks much more competitive this season than last season.

At any rate, keep a close eye on Achiuwa — he will definitely be a factor for the Heat this season, and he could even enter the NBA Rookie of the Year discussion when all is said and done.

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Jeremy Pink is COO of Geniecast, a leading virtual content and experience company, and he is also currently an advisor to companies in the media and financial tech sectors. Jeremy 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, and 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)