Pink's Bottom Line on Media, Money and Sports

Apple's Sundance purchase, stock and crypto apps and the repercussions of a major trade in the NFL

In today’s newsletter, I discuss Apple’s major purchase at the Sundance Film Festival, the popularity of stock and crypto apps and a big trade in the NFL with potentially far reaching repercussions.

MEDIA: Apple and Sundance

Apple is reportedly making a major splash at the Sundance Film Festival, which is being held virtually this year.

According to the entertainment publication Deadline, Apple is buying the global rights to the movie CODA for $25 million, which would be the highest price for the rights of any film ever at Sundance.

CODA, which stands for Child of Deaf Adults, focuses on a teenage girl whose parents and brother are deaf — the movie has generated a lot of positive reviews.

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Apple’s purchase of these rights is yet another indication that big tech will continue to be a big player in media and entertainment.

Notably, according to Deadline, Amazon was the other company that competed with Apple to acquire the rights to CODA.

As the demand for top content intensifies with the proliferation of video streaming services, look for big tech with its big cash piles to emerge frequently as a top bidder for prized movies and television shows.

MONEY: Stock, Crypto Apps

In my unofficial review of both the Apple App Store and the Google Play Store, three finance and trading related apps are among the top ten most downloaded free apps in both stores.

Robinhood and Webull, free stock trading apps, and Coinbase, an app to buy and sell cryptocurrencies, all rank among the top ten free apps in the country right now in both the App Store and in Google Play.

With the incredible run up in the price of GameStop stock likely due in part to the sheer volume of individual investors trading that stock on Robinhood, it’s not surprising to see these apps so popular at the moment.

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Additionally, the price of Bitcoin, while volatile, has soared in recent months, likely contributing to the number of downloads of the Coinbase app.

All of that said, the popularity of these apps could be indicative of frothy markets, which could potentially lead to bubbles.

It’s not certain that we’re seeing bubbles — and bubbles often continue to expand for a far longer duration than many expect — but it’s worth noting as more and more individual investors pile in to stock and cryptocurrencies.

SPORTS: Stafford to the Rams

In the NFL, the Detroit Lions reportedly will trade quarterback Matthew Stafford to the Los Angeles Rams for their quarterback, Jared Goff, and three draft picks.

The NFC West, which consists of the Rams, the San Francisco 49ers, the Seattle Seahawks and the Arizona Cardinals, already is the toughest division in the NFL, and with the addition of Stafford to the Rams, it just got tougher.

Last week I wrote that I expected the impact of any trade of Stafford would reverberate throughout the league, and nowhere will his trade to the Rams have potentially bigger repercussions than in San Francisco.

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Stafford’s trade to the Rams means that three of the four teams in the NFC West now have starting quarterbacks that the franchises will build around and support — the notable exception is San Francisco, which appears tepid on its quarterback, Jimmy Garoppolo.

As such, look for the 49ers to make a move quickly to replace Garoppolo, and I expect San Francisco will find a way to trade for Houston quarterback Deshaun Watson, who led the NFL in passing yards this year.

If Watson does go to San Francisco, that would make the NFC West brutally competitive, and the division would boast at least two Super Bowl contenders next season in the Rams and the 49ers.

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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)