Pink's Bottom Line on Media, Money and Sports
Video platform Rumble, office occupancy in major US cities and NHL's Stanley Cup
In today’s newsletter, I discuss video platform Rumble, office occupancy in major US cities and the NHL’s Stanley Cup.
MEDIA: Video Platform Rumble
Former President Donald Trump live streamed his rally yesterday in Ohio on Rumble, a video platform similar to YouTube. Trump also reportedly joined the Rumble platform Saturday.
Trump has not been allowed recently on most social media or video platforms including Twitter, Facebook and YouTube.
Pink's Bottom LineAccording to my quick look at Rumble, Trump’s rally last night generated more than 650,000 views.
Those 650,000 views on Rumble are likely far fewer than the rally would have generated on YouTube or other platforms — and those platforms likely won’t allow Trump to join them in the foreseeable future.
As such, it shows just how powerful existing platforms have become and it indicates just how difficult they probably are to supplant.
MONEY: Office Occupancy in Major US Cities
Office occupancy in ten major cities in the United States stands at 32.1%, according to the Kastle Back to Work Barometer from Kastle Systems, a property technology security company.
Among the ten cities monitored by Kastle, office occupancy is highest in Austin at 50.3%, and lowest in San Francisco at 18.7%.
For some context, New York’s office occupancy is 21.7%, in Los Angeles, it is 25.6% and it’s 28.1% in Chicago, according to Kastle data.
Pink's Bottom LineOffice occupancy has moved higher in the past few weeks — the national average increased from 29% at the end of May to 32.1% last week, according to Kastle data.
That said, if those occupancy rates do not improve dramatically by the end of the year, it could portend major financial issues for many large cities as those cities won’t be generating anywhere near the tax revenue they would have with fuller occupancy.
As such, I am closely watching Kastle’s Back to Work Barometer, which the company now releases weekly, as it could be a leading indicator of the fiscal health of major US cities.
SPORTS: The NHL’s Stanley Cup
The Montreal Canadiens, who entered this year’s NHL Playoffs with the worst regular season record among all teams that qualified for the post season, play the Tampa Bay Lightning in the Stanley Cup, which begins tomorrow.
According to FanDuel Sportsbook, the Lightning are slight favorites to win the Stanley Cup at -132 while the Canadiens +116 to win.
Pink's Bottom LineNotably, Montreal will be the first team from Canada playing for a Stanley Cup since 2011 when the Vancouver Canucks lost to the Boston Bruins.
You have to go all the way back to 1993 to find the last team from Canada to win a Stanley Cup — that’s when Montreal beat the Los Angeles Kings.
As such, this year’s Stanley Cup could result in the first champion from Canada in 28 years.
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)