Weekly Recap: Pink's Bottom Line on Media, Money and Sports
Top items and takeaways from the week
Here are the top items and takeaways from this week’s newsletter.
MEDIA
As video sharing apps like TikTok soar in popularity, top tech firms have been looking to get in on that business, and this week Reddit, a message board company, said that it would acquire video sharing app Dubsmash. Rumors swirled recently that Facebook was looking to buy Dubsmash but that deal never happened. All of this underscores the perceived value of video sharing apps in general — and it appears that big tech will spend big money to be part of that market.
A group called the Tiny News Collective said Tuesday that it is looking to develop local news entrepreneurs around the country. Separately, according to Northwestern University Medill’s Local News Initiative, digital subscriptions to local news publications have jumped, up about 50% this year. These are both encouraging signs for the nation’s local news industry.
Roku, which provides hardware for consumers to access video streaming services, will now carry HBO Max, the video streaming service from WarnerMedia. It had been a contentious negotiation between Roku and HBO Max, reminiscent of some battles waged in the past between cable television networks and cable and satellite distribution companies. Importantly, the tough negotiations and the ultimate deal between Roku and HBO Max also show the rapid maturation of the video streaming industry.
MONEY
Microsoft is the country’s best run public company, according to rankings released from the Drucker Institute, a management firm based on the ideas of management guru Peter Drucker. Big tech companies with long track records dominate the list of the best managed public companies, which is yet another indication of just how dominant large tech companies have become in corporate America.
Retail sales, a top measure of consumer spending, slumped 1.1% in November compared to October, according to data released today by the government. Notably, online retailers saw their sales jump while bars and restaurants suffered declines. It is yet the latest indication that e-commerce is a consistent beneficiary of the pandemic while sales at establishments like bars and restaurants continue to struggle.
Redfin, a digital real estate company, says it expects the nation’s housing market to remain robust in 2021, according to a new report from the firm. That report lists Redfin’s top ten predictions for the housing market next year including two prognostications that are particularly notable.
SPORTS
When the Washington Football Team beat the San Francisco 49ers last Sunday, the team earned its fourth consecutive victory and catapulted in to first place in its division. It’s quite a story of resilience and redemption for Washington considering where the team was just a few short months ago.
With the NBA beginning its new season a week from today, Luka Doncic of the Dallas Mavericks is the slight favorite to win the league’s Most Valuable Player award this year, according to the FanDuel Sportsbook. Interestingly, LeBron James of the Los Angeles Lakers is the seventh favorite to take home the MVP, but I believe he will clearly be the most valuable player in the league this season whether he actually wins the award or not.
We’ll know on Sunday the four teams that will make it to this year’s College Football Playoff, and one game tomorrow — Clemson vs. Notre Dame — will be pivotal to determining just who makes it.
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)