Pink's Bottom Line on Media, Money and Sports
This week's top items and takeaways from the worlds of media, money and sports
Here are this week’s top items and takeaways from the worlds of media, money and sports.
MEDIA
Pink’s Bottom Line: Notably, YouTube ranks first among the 50 most visited websites in time spent per visit, suggesting that YouTube users are perhaps stickier than users of other top websites.
Pink’s Bottom Line: According to CNN, that story became the most viewed story ever on Politico, underscoring that proprietary reporting and information is the key traffic generator for news sites around the world.
Season 4 of Ozark, a Netflix original production, ranked as the most watched television production in the United States on Netflix last week.
Pink’s Bottom Line: Additionally, nine of the top ten most watched television productions on Netflix were Netflix originals, indicating that streaming services likely will need to keep spending heavily on original content to retain user bases that appear to be eroding.
MONEY
Pink’s Bottom Line: Consumer spending — at least for Mother’s Day — remains robust despite consumer pessimism about the economy due largely to sharply higher inflation.
Bitcoin and other widely traded cryptocurrencies slumped in price this weekend.
Pink’s Bottom Line: Cryptocurrencies, as I wrote last week, are moving in a similar direction as major stock market indices like the Dow Jones Industrial Average, which lost ground for the sixth consecutive week last week.
Pink’s Bottom Line: Although the US Federal Reserve is raising interest rates to slow the economy and to tame inflation, the nation’s job market still is showing signs of strength, indicating that the labor market might be able to weather a turbulent economy the rest of the year.
SPORTS
Pink’s Bottom Line: The anemic record of the Reds so far this season is the latest sign of a substantial bifurcation of teams in baseball among those that spend heavily on their rosters and those, like the Reds, that don’t, and that bifurcation means that only a handful of teams — the ones that spend the most money — now have a realistic chance of winning the World Series in any given year.
Pink’s Bottom Line: Alcaraz, who just turned 19, already is in the top ten in the world, and looks poised to become world number one in the next few years.
In the NBA, Golden State dismantled Memphis last night to take a 2-1 lead in their Western Conference semifinal best-of-seven series.
Pink’s Bottom Line: While Stephen Curry, Klay Thompson and Draymond Green are still the core of the Golden State team, the play of both Jordan Poole and Andrew Wiggins ultimately will determine how far the Warriors will go this postseason.
Jeremy Pink 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.
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(Newsletter Editor: Karina Pink)