Pink's Bottom Line on Media, Money and Sports

New video streaming service, cryptocurrencies and a blockbuster NBA trade

In today’s newsletter, I discuss Discovery’s new video streaming service, cryptocurrencies and a blockbuster trade in the NBA.

MEDIA: New Video Streaming Service

Discovery, the media company home to brands including the Discovery Channel, Animal Planet, Food Network and many others, says it will launch its own video streaming service called discovery+ in the United States in January.

Discovery says it also has big plans for its new video streaming service internationally.

It is the latest indication of the importance of video streaming in the global media marketplace as a company like Discovery, which currently derives a good chunk of its revenue from its television networks in the US and around the world, is making a big push in streaming.

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In the United States, discovery+ will feature content from Discovery’s slew of brands as well as content from partners like A&E Networks and others.

As Netflix has moved to original production over the years, its business has thrived and its subscriber growth has been tremendous.

As such, Discovery should be well positioned in video streaming with its discovery+ service as the company already owns and produces enormous amounts of original content every year.

MONEY: Cryptocurrency Indexes

There’s more evidence today that cryptocurrencies — Bitcoin, Ethereum and the like — are becoming more mainstream.

S&P Dow Jones Global Indices, which is home to stock market indices like the Dow Jones Industrial Average and the S&P 500, will work in conjunction with Lukka, a cryptocurrency data firm, to create cryptocurrency indexes.

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With the development of these new cryptocurrency indexes, it appears that investable products — like mutual funds or exchange-traded funds — that track these indexes could soon follow.

If that does indeed happen, then more institutions and individuals could potentially invest in cryptocurrencies via these index products.

That, in turn, could eventually lead to more mainstream adoption of cryptocurrencies, at least from an investing standpoint.

SPORTS: Blockbuster NBA Trade

Russell Westbrook, the NBA all-star guard and former league MVP just four years ago, will join his third team in the past three years when NBA tips off its new season in a few weeks.

On Wednesday, the Houston Rockets traded Westbrook to the Washington Wizards for their all-star guard John Wall and a draft pick.

Westbrook will join the Wizards after playing for Houston for only one season. He played for the Oklahoma City Thunder from 2008 to 2019.

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It is unusual to see a player of Westbrook’s caliber switch teams so often in such a short time span.

Westbrook remains one of the top players in the NBA during the regular reason, but he has not had much post-season success in recent years — that lack of post-season success could be a reason he was traded.

Now that Westbrook has moved to the weaker Eastern Conference in the NBA with the Wizards, I suspect that will give him a greater chance to win a series or two this post-season.

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Jeremy Pink is COO of Geniecast, a leading virtual content and experience company. He is also currently an advisor to companies in media and financial tech. Jeremy 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. Jeremy 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)