Pink's Bottom Line on Media, Money and Sports
Sale of a national sports publication, US and China industrial production and a truly outstanding NFL kicker
In today’s newsletter, I discuss the sale of a national sports publication, the US and China industrial sectors and a truly outstanding NFL kicker.
MEDIA: Sale of Sporting News
Sporting News, the venerable US sports publication that is now all digital, is changing ownership.
Current owner DAZN, a sports video streaming company, appears that it will focus on its core business as it is selling Sporting News to a British family office called PAX Holdings.
PAX holds a number of different investments including some in the gaming and leisure industries.
Pink's Bottom Line
DAZN has burst on to the scene in live sports streaming in the past few years with subscription services in a number of international markets.
PAX Holdings, meanwhile, could be looking to augment some of its gaming investments that are associated with sports betting with the acquisition of Sporting News.
Overall, it does signal that both live sports streaming and sports betting are revenue drivers in the overall sports industry while traditional sports content, though valuable, appears to be taking a back seat.
MONEY: US, China Industrial Production and Output
US industrial production, which measures the output of manufacturing among other items in the economy, rose 0.4% in November compared to October, but overall production is still 5.5% below its reading of November 2019.
Meanwhile, in China, the government said that its measure of total industrial output in November rose sharply — up 7% — compared to November of last year.
Pink's Bottom Line
While the US industrial sector is indeed recovering — industrial production rose for the seventh consecutive month — the industrial sector in China appears to be recovering at a faster clip.
However, as the US economy emerges from the impact of the coronavirus pandemic and as vaccines become more readily available across the country, look for US industrial output to rebound even more sharply, particularly in the second half of the year, which will help drive an overall US economic recovery.
SPORTS: Clutch Field Goal, Amazing Safety
In the NFL last night, the Baltimore Ravens beat the Cleveland Browns in a thriller, 47-42, thanks to a 55-yard tie-breaking field goal by Ravens’ kicker Justin Tucker with two seconds left in the game.
The kick itself looked effortless, which is par for the course for a truly special talent like Tucker.
Tucker is the NFL’s all-time leader in field goals made, connecting on more than 90% of his attempts during his nine-year career.
Pink's Bottom Line
In addition to Tucker’s heroics, there is an amazing sports betting angle to this game.
Following that Tucker field goal and a touchback, Cleveland did get the ball back trailing 45-42, and the team attempted a series of laterals that resulted in a safety, which put the final score at 47-42.
That safety — and its resulting two points — was significant for bettors as Baltimore was a three point favorite to win the game in most sportsbooks.
With that safety, those who put money on Baltimore to cover the spread (win by more than three points) suddenly had a winning bet on their hands as the Ravens won by five points.
(Click here to watch the play that resulted in the Cleveland safety.)
Jeremy Pink is COO of Geniecast, a leading virtual content and experience company. He is also currently an advisor to companies in media and financial tech. Jeremy 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. Jeremy 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)