Pink's Bottom Line on Media, Money and Sports

Amazon and live sports streaming, gas prices and the NBA's Atlanta Hawks

In today’s newsletter, I discuss Amazon and live sports streaming, gas prices and the NBA’s Atlanta Hawks.

MEDIA: Amazon and Sports Streaming

Amazon Prime will stream 21 New York Yankees games this season for those viewers who live in the home market area of the Yankees.

(Click here to read a Deadline story about the streaming plans with Amazon and the Yankees.)

The YES Network, which broadcasts Yankees games and which is partially owned by Amazon, will produce these games — they will be simulcast both on the YES Network and on Amazon Prime.

Pink's Bottom Line

This streaming plan comes on the heels of last week’s announcement by Amazon that it acquired rights from the NFL to broadcast Thursday Night Football beginning next year.

Streaming of live sports is likely to become more commonplace in the next few years for two reasons.

First, subscriber numbers are declining for traditional cable and satellite television networks where live sports is often broadcast, and streaming, which is growing rapidly, offers an alternative distribution outlet.

Second, many tech firms and big media companies have money to spend on streaming content, and live sports is an attractive product.

MONEY: Gas Prices

Gas prices are climbing ahead of the traditionally strong summer driving season, and hit their highest levels in nearly two years, according to AAA.

The average price of a gallon of regular gasoline rose two cents last week to $2.88, according to AAA, the highest weekly average price since May 2019.

Pink's Bottom Line

Consumers could soon pay even more for a gallon of gas if oil prices continue their upward trend — oil prices have moved steadily higher since the beginning of the year.

The economy also could be in danger of overheating in the coming months, which is possible as the pandemic recedes and as the government’s stimulus package begins.

As such, that overheating could lead to inflation elsewhere at the consumer level, not just at the gas pump.

SPORTS: Atlanta Hawks

The NBA’s Atlanta Hawks have quietly won eight of their last nine games and, if the playoffs started today, the Hawks would be the fourth seed in the Eastern Conference.

Granted, only one game separates the Hawks from the eighth seed Boston Celtics in the Eastern Conference, but Atlanta’s recent stretch of play is notable as six of those eight wins have been by double digits.

Pink's Bottom Line

The Hawks are led by two dynamic young players — point guard Trae Young and power forward forward John Collins.

They also have solid veterans on their roster including center Clint Capela and forward Danilo Gallinari.

While the Hawks aren’t at the same level as the top teams in their conference like the Brooklyn Nets or the Milwaukee Bucks, they could very easily win a playoff series this year.

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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)