Pink's Bottom Line on Media, Money and Sports
Box office revenue, a CFO survey and Green Bay quarterback Aaron Rodgers
In today’s newsletter, I discuss box office revenue, a CFO survey and Green Bay quarterback Aaron Rodgers.
MEDIA: Box Office Revenue
Box office revenues at the nation’s theaters and cinemas declined nearly 25% this weekend compared to the weekend earlier, according to data from Box Office Mojo.
Revenues fell to $70 million this weekend from $91 million the weekend prior, according to Box Office Mojo.
Pink's Bottom Line
For some context, according to Box Office Mojo, on the same weekend in 2019 before the pandemic began, box office revenue totaled roughly $162 million.
Meanwhile, during the height of the pandemic last year, total box office revenue less that $700,000 for that same weekend.
All of that box office data shows that the movie business is doing better but it still has a long way to go before it fully recovers.
MONEY: CFO Survey
The nation’s chief financial officers (CFOs) are becoming more optimistic both about the overall US economy as well as their own companies, according to The CFO Survey, a collaboration between Duke’s Fuqua School of Business and the Federal Reserve Banks of Atlanta and Richmond.
Those survey results are encouraging as CFOs often have greater insight than other corporate officers into both the overall health of the economy as well as into their own companies.
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Notably, those same CFOs cite concern about finding and hiring enough workers — they also say they are worried about cost pressures, according to that survey.
As such, while the US economic recovery appears solid overall, both a labor shortage and inflation look like they could hinder the strength of that recovery.
SPORTS: Rodgers Returning
Aaron Rodgers, the veteran quarterback of the Green Bay Packers and the reigning NFL MVP, reportedly will play for the Packers this season after all.
It had been a distinct possibility that Rodgers wasn’t going to play for the Packers this season as the quarterback has had issues with how the team has been run.
Pink's Bottom Line
According to FanDuel Sportsbook, Green Bay is the clear favorite at -140 to win the NFL North this season.
In fact, the Packers are tied for the fourth favorite in the NFL at +1300 to win the Super Bowl this season, according to FanDuel.
Assuming Rodgers does indeed play for the Packers this year, look for him to have another stellar, MVP-caliber season as he just might be auditioning for a new team — and contract — for 2022.
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)