Pink's Bottom Line on Media, Money and Sports

Google spends on news, Target, Amazon, Black Friday and an epic tennis match

It has been a beautiful fall weekend in the northeastern United States, and I’m expecting a beauty of a tennis match a week from today in the French Open. I discuss that and more in today’s newsletter.

MEDIA: Google Spends on News

Google says it will invest $1 billion in news partnerships with global publishers over the next three years as part of a new product called Google News Showcase. That product will display top stories and items from various news publishers from around the world.

Google says it has struck agreements with more than 200 publishers in Argentina, Australia, Brazil Canada, Germany and the United Kingdom to essentially license content from them for that $1 billion.

The rollout of News Showcase begins in Germany and Brazil. No word on when or if Google will also strike similar arrangements with US publishers.

Pink's Bottom Line

Many news businesses, notably newspapers, have struggled for years to adapt to a digital environment that’s now dominated by companies like Google.

While that $1 billion will provide a needed boost in revenue to the news industry, it won’t be nearly enough to make a meaningful long-term difference considering the size, scale and scope of the global news industry.

MONEY: Target, Amazon and Black Friday

The middle of October looks like it could be a good time for consumers to shop for potential bargains for the holiday season.

Target says it will offer its Deal Days promotion on October 13 and 14 — the same days that Amazon is holding its Prime Day sale this year.

(Note: Amazon scheduled Prime Day in October this year instead of July largely due to the impact of the coronavirus pandemic.)

Pink's Bottom Line

While Target and Amazon continue to compete fiercely, they seem united on one front — it appears that both companies aren’t relying as much on Black Friday to drive holiday sales. (Black Friday, the day after Thanksgiving, traditionally is considered the start of the holiday shopping season.)

However, as online sales have accelerated rapidly and consumers have shunned shopping in person, particularly in the past number of months, it appears Black Friday now is of lesser importance to both Amazon and Target, and their mid-October sales events reflect that.

SPORTS: Epic French Open

If you haven’t watched the men’s side of the French Open tennis tournament, you’re missing a truly historic dominant performance from Rafael Nadal, the men’s second-ranked player.

Nadal cruised in the quarterfinals today with a bruising straight sets victory over American Sebastian Korda. Nadal has now lost only 23 games in his first four matches at this year’s tournament.

He appears nearly unbeatable as he looks to capture his 13th French Open, and collect his 20th Grand Slam tournament win, which would tie him with Roger Federer as the men’s all-time leader in major titles.

Nadal also looks likes he’s on a collision course to play the world’s top-ranked player, Novak Djokovic, in the men’s final a week from today.

Pink's Bottom Line

Djokovic has been equally as strong as Nadal during the French Open so far, and he’s been by far and away the most dominant player on the men’s tour in all of 2020.

I have predicted that Djokovic will win this year’s French Open, and I now suspect that a Djokovic-Nadal French Open final, should it happen, will become one of the best tennis matches in years.

Look for an epic five setter in the men’s final at Roland Garros in Paris a week from today with Djokovic emerging as the winner, but just barely. (Random Note: The words “just barely” are a nod to one of my favorite Sports Illustrated magazine covers of all time.)

---

Jeremy Pink is former CEO of private-equity backed Broadcast Sports International where he led 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. Jeremy currently serves as an advisor, consultant or board member to companies in New York, London, Hong Kong and Dubai in the media, technology, sports and financial tech sectors.

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.