Pink's Bottom Line on Media, Money and Sports

SiriusXM, home prices and an emerging basketball star

I discuss satellite radio, home prices and a major basketball star in today’s newsletter.

MEDIA: Sirius Steps Up

For all the talk about the demise of all types of radio, SiriusXM, the satellite subscription radio service, appears to be weathering the onslaught of podcasting and music streaming services as well as the negative impact of the coronavirus pandemic.

Sirius reportedly is close to signing Howard Stern, by far and away its biggest and most influential star on the service, to a new contract.

Additionally, the company just boosted its quarterly dividend by 10%, and received an upgrade from an analyst on Wall Street.

Pink's Bottom Line

Sirius is seriously fighting to maintain its position in the marketplace as a top provider of music and audio, and it has spread its bets to include music streaming and podcasting in addition to its big moneymaker of satellite radio subscriptions.

The company made some key acquisitions in the past couple of years notably with its purchase in July of Stitcher, a podcasting company. Sirius bought Pandora, a music streaming service, in 2018.

If the company can sign Stern again and profitably incorporate these acquisitions into its overall business, it could potentially maintain or even grow its position in the marketplace.

That said, Sirius still faces stiff and relentless competition from the likes of Spotify, other podcasting companies and other music streaming services.

MONEY: More Housing Market Numbers

Real estate firm Redfin said housing prices rose 14% for the four weeks ending September 27 compared to the same period last year, echoing other mostly positive recent public and private reports on the housing market.

Redfin says that 14% increase was the biggest jump in prices in seven years, and that the median price of a home hit a record level of $319,769.

Pink's Bottom Line

One interesting item from the Redfin report jumped out at me — both buyers and sellers say now might not be as good of a time to sell a home as it’s been recently.

Redfin says 20% of those surveyed said, “Now is a bad time to sell.” That’s compared to last year when 7% said the same thing.

It’s another sign that while the housing market might be very hot, it could potentially be getting cooler.

SPORTS: A Star in Seattle

While Russell Wilson, the quarterback of the NFL’s Seattle Seahawks, has led his team to an unbeaten record so far this season and looks like he could win the league’s most valuable player award, there’s another star who shines just as bright as Wilson.

It’s Breanna Stewart, a third-year WNBA player, who last night led the Seattle Storm, along with veteran teammate Sue Bird, to their second WNBA title in three years.

The Storm swept the Las Vegas Aces three games to none, and Stewart earned her second Finals MVP. She has also been named Rookie of the year and a league MVP in her short career.

Pink's Bottom Line

Stewart is one of the greatest players ever in women’s college basketball having led the University of Connecticut to four consecutive national titles during her career there.

She was also named the Most Outstanding Player in all four of those NCAA tournaments that UConn won.

Stewart just keeps getting better, and at age 26, we are likely seeing just the beginning of one of the greatest WNBA careers ever.

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Jeremy Pink is former CEO of private-equity backed Broadcast Sports International where he led 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. Jeremy currently serves as an advisor, consultant or board member to companies in New York, London, Hong Kong and Dubai in the media, technology, sports and financial tech sectors.

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.