Weekly Recap: Pink's Bottom Line on Media, Money and Sports
Top items and takeaways from this week's newsletter
Here are the top items and takeaways from this week’s newsletter. I hope everyone has a great weekend.
MEDIA
Total video game revenue will soar this year, approaching $175 billion, which represents a growth of more than 19% on a year-over-year basis, according to a report from Newzoo, a gaming research company. That’s a powerful trend and one that shows no real signs of slowing down any time soon.
As social media impacts just about everything these days, I wanted to find out who had the most followed accounts across the three top platforms: Facebook, Instagram and Twitter. So, I turned to Social Blade, a website that tracks those kinds of things. Here’s what I found.
Spotify made another move into the world of podcasting this week, announcing that it will buy Megaphone, a podcast advertising company. The company’s focus on advertising, particularly in podcasting, with this acquisition is notable as it appears that Spotify is looking to build out that revenue stream aggressively in addition to its already successful subscription offering.
MONEY
There was some encouraging news on the jobs front from the government’s monthly Job Openings and Labor Turnover Summary (JOLTS), which was released earlier this week. However, the labor market will likely encounter significant headwinds over the next two months as the number of coronavirus cases is expected to surge to well above their current record levels.
While Wednesday was Veteran’s Day in the United States, it was Singles Day in China, a holiday that celebrates those who are not in a relationship. In 2009 China online retail giant Alibaba also started a massive annual retail sale on Singles Day, and this year, that sale’s performance again showed the strength of the Chinese consumer.
Home prices in the United States continue their upward march, according to a report this week from the National Association of Realtors (NAR). If the US economy can generate a sustained economic recovery in the coming months, it will likely need a strong performance from the housing market — and it seems like we have that right now.
SPORTS
Although the Los Angeles Lakers won the NBA title only last month, the NBA is already gearing up to get the next season started a few days before Christmas. I like the Lakers or the Golden State Warriors to win the NBA title in 2021 though one team, the Lakers, will have a very short offseason, while one team, the Warriors, will enjoy a lengthy respite.
I happened to come across a fascinating set of statistics on Twitter the other day — it’s from the account @MLBRandomStats, which compiled a list of the players who hit the most home runs during each US presidential administration over the years. There are some conspicuous names missing from that list.
The Premier League, the UK’s globally popular soccer league, will abandon plans to charge for some matches on a pay-per-view basis in the UK as fans there balked at the prospect. While the Premier League already generates enormous sums of money in the UK for the rights to broadcast its soccer matches, it will be very tricky for the league to generate incremental revenue without further alienating its fan base there.
Jeremy Pink currently serves as an advisor to companies in media and financial tech. He is 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)