Pink's Bottom Line on Media, Money and Sports
Top items and takeaways from the week 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: That increase in cable television usage reflects, in part, coverage of the war in Ukraine, indicating that viewers still heavily turn to cable news networks for breaking, real-time news coverage.
CNN+, CNN’s brand new streaming service, will shutter on April 30, just one month after it launched.
Pink’s Bottom Line: Despite the demise of CNN+, big media, big tech or a start-up will eventually find a way to create an online news streaming service that is both programmatically and commercially viable.
Pink’s Bottom Line: While Netflix remains as the global leader in streaming, its struggles are the latest sign that the era of explosive growth in video streaming has ended.
MONEY
Pink’s Bottom Line: Despite soaring inflation and a cloudy global geopolitical picture, the nation’s labor market remains strong, which bodes well for the overall U.S. economy.
Pink’s Bottom Line: Those higher mortgage rates should soon cool the red-hot housing market, but a lack of supply of homes on the market is keeping housing prices elevated.
Gas prices remain stubbornly high across the country, according to data from AAA.
Pink’s Bottom Line: Look for prices at the pump to stay at current levels as the country heads in to the summer driving season, though price relief should occur at some point in the fourth quarter.
SPORTS
In the NBA, the Brooklyn Nets, a team favored to win the NBA title just a few weeks ago, now are in danger of being swept out of the first round of the playoffs.
Pink’s Bottom Line: While the lackluster performances of Brooklyn’s two superstars, Kevin Durant and Kyrie Irving, certainly are contributing to the team’s playoff woes, the Nets are an undersized team that struggles to compete defensively, which won’t change even if Durant and Irving improve their play.Pink’s Bottom Line: Cabrera is perhaps the most underrated and under-appreciated sports superstar in recent memory considering that he won a triple crown ten years ago and that he is only the seventh major leaguer in history with both 3,000 hits and 500 home runs.
Pink’s Bottom Line: Look for teams to choose as many as five wide receivers in the first round alone, and most of these wideouts will make an immediate impact in the NFL this season.
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)