Pink's Bottom Line on Media, Money and Sports

Disney earnings, Bitcoin's record price and a big game in the Big 12

In today’s newsletter, I discuss Disney earnings, Bitcoin's record price and a big game in the Big 12.

MEDIA: Disney Earnings

Disney’s stock price fell nearly seven percent today, following the company’s release of its quarterly earnings report after the closing bell last night.

The company reported both lower earnings and revenue than many on Wall Street had expected.

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Additionally, while Disney reported that the total number of subscribers to its streaming services — notably Disney+ — grew last quarter, that increase in new subs also apparently disappointed Wall Street.

Streaming has been a key focus for Disney in the last couple of years, and Disney+ has emerged as a top competitor to streaming market leader Netflix.

Interestingly, because of the decline in Disney stock today, the company’s market capitalization declined to $294.6 billion, just slightly above the market cap of Netflix of $291.3 billion.

MONEY: Bitcoin’s Record Price

Bitcoin hit an all-time high in price Wednesday, though it has since retreated a bit from that record level.

It’s likely no coincidence that Bitcoin reached that all-time high on the same day that the government reported that the Consumer Price Index (CPI) jumped 0.6% in October and for the past 12 months, the CPI has surged 6.2%, the biggest annualized increase in 31 years.

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In times of inflation — either at the consumer or wholesale levels — many investors traditionally invested in gold as a hedge.

Now, it appears that Bitcoin — or other cryptocurrencies — could be replacing gold to some extent as that hedge against inflation.

If inflation does continue to surge in the coming months, it will be worth watching the price of Bitcoin closely to see if it indeed continues to move higher.

SPORTS: Big Game in the Big 12

When the College Football Playoff (CFP) rankings were released last Tuesday, Oklahoma, despite its 8-0 record, remained eighth in the rankings for the second consecutive week.

Only the top four ranked teams in the country will make the CFP, so Oklahoma will need some help in the next few weeks to make the playoff.

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This week, Oklahoma plays Baylor, ranked 13th, in perhaps the most important Big 12 game of the year.

If Oklahoma wins, it will add a strong win to its resume, and that will likely help the team move higher in the CFP rankings.

If, though, Oklahoma loses, it means almost certainly that no team from the Big 12 will make the playoff this season.

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Jeremy Pink is currently an advisor to media and fintech companies around the world. 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)