Pink's Bottom Line on Media, Money and Sports
Viewership of the Oscars, gas prices and an emerging player in men's tennis
In today’s newsletter, I discuss sagging viewership of the Oscars, rising gas prices and an emerging player in men’s tennis.
MEDIA: Viewership of the Oscars
Viewership of the Oscars on traditional television fell to an all-time low, according to a story in Variety that quoted Nielsen measurement of the broadcast.
Just under 10 million viewers watched the Academy Awards on traditional television according to preliminary numbers from Nielsen reported by Variety, which would put viewership for this year’s broadcast down more than 58% compared to last year.
Pink's Bottom Line
Notably, viewership among the advertiser coveted age group of 18-49 fell precipitously, down more than 64% from a year ago.
The low viewership of the Oscars continues a trend where major awards shows — like the Golden Globes and the Grammys — are also seeing viewership decline sharply.
Expect that trend to accelerate as viewers shun traditional linear television in favor of streaming options — even for large, international live events.
MONEY: Gas Prices
Americans are paying more for a gallon of regular gasoline than they did a week earlier, according to AAA.
The nationwide average price of a gallon of regular gas rose two cents to $2.88 last week, and now hover around their highest level this year.
Pink's Bottom Line
Additionally, demand for gasoline is at a faster pace than supply is being created, according to AAA.
Demand for gas last week rose to its second highest level in more than a year and demand now sits only 3% below where it was the same week 2019 before the pandemic began, according to AAA.
As such, if gas prices continue to march higher through the traditionally strong summer driving season, it will be yet another indicator of inflation in the country.
SPORTS: Upset Alert for the French Open
Rafael Nadal, arguably the best men’s clay court tennis player in history, narrowly won the Barcelona Open, a clay court event, Sunday over Stefanos Tsitsipas, the fifth ranked player in the world.
Nadal saved a match point en route to his 12th title in Barcelona and the 61st clay court title of his career, including 13 at the French Open.
Just last week, Tsitsipas won the Monte Carlo Open, another clay court event as Nadal lost to Andrey Rublev in the quarterfinals of that tournament.
Pink's Bottom Line
Tsitsipas has emerged this year as one of the hottest players on the men’s tour with that win at Monte Carlo on clay — he also beat Nadal in the Australian Open earlier this year.
He is a strong player on clay, and he is tied for the most wins on the men’s tour this year— plus, he is showing that he is very competitive with Nadal.
As such, look for Tsitsipas to be a real threat to win the French Open, which begins May 24.
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)