Pink's Bottom Line on Media, Money and Sports

Media company earnings, strong economic data and the Philadelphia 76ers

In today’s newsletter, I discuss a media company’s strong earnings report, strong economic data and a strong team in the NBA’s Eastern Conference.


TEGNA, a media company with 64 local television stations around the country, reported strong preliminary first quarter results Wednesday.

The company said it reached a record level of revenue in the first quarter thanks to both higher subscription fees and advertising sales. (Click here to read the company’s earnings press release.)

Pink's Bottom Line

This earnings report suggests that TEGNA performed well despite any negative impact from the coronavirus pandemic and despite the fact that 2021 won’t be as strong of a year for political advertising as 2020.

TEGNA’s earnings could be a good proxy for the overall performance of the traditional linear television business this year.

MONEY: Strong Economic Numbers

Retail sales surged in March and jobless claims fell to their lowest level essentially since the pandemic began, according to two separate economic reports released today.

Retail sales rose 9.8% last month, according to a government report, as fiscal stimulus checks to consumers helped boost overall spending.

Jobless claims declined to 576,000 this week, down 193,000 from a week earlier, according to a government report.

Pink's Bottom Line

Strong retail sales and an improved employment environment are two critical components to a meaningful economic recovery.

As such, these two reports are just the latest data points that show the US economy appears to be roaring back from a rough past year due to the pandemic.

SPORTS: Philadelphia 76ers

With much of the attention in the NBA’s Eastern Conference focused on the Brooklyn Nets because of that team’s trio of superstars, the Philadelphia 76ers are quietly emerging as a significant contender in the East.

In fact, Philadelphia now has the best record in the Eastern Conference, a game ahead of the Nets — the 76ers beat the shorthanded Nets last night to take over first place.

Pink's Bottom Line

That said, Brooklyn still remains the clear favorite to win the conference at -110 while the 76ers are +440, according to FanDuel Sportsbook.

If Brooklyn’s trio of superstars — Kevin Durant, James Harden and Kyrie Irving — all are healthy and playing together in the playoffs, they will be tough to beat.

However, the 76ers looks like a team that could challenge the Nets, especially with the inspired play of Philadelphia center Joel Embiid, who can take over a game on any given night.

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)