Weekly Recap: Pink's Bottom Line on Media, Money and Markets
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
With the coronavirus pandemic entering a new wave and with the presidential election likely to stay in the news cycle for many weeks beyond Election Day, Americans’ insatiable appetite for television news should only increase in the coming months.
Primetime broadcast television, often derided as a dinosaur among today’s vast media offerings, enjoyed a spectacular Sunday night. So, don’t count out the traditional television networks just yet — broadcast television is perhaps still the best way to reach a mass audience among all media platforms.
It appears that the negative economic impact of the pandemic has acted as a dramatic accelerant to the growth of the US mobile gaming industry in recent months.
MONEY
American consumers appear likely to spend modestly less this holiday season compared to last year, according to a Annual 2020 Holiday Survey released from the National Retail Federation (NRF). Considering the current economic backdrop, results from that NRF survey actually seem somewhat encouraging.
A greater percentage of Americans owned their own home last quarter compared to the third quarter of 2019, according to a report released this week by the US Census Bureau. However, on a quarter-to-quarter basis, home ownership actually ticked down slightly. One quarter doesn’t make a trend, but it is worth watching as a potential indicator of a slowing housing market.
It’s an interesting time for Bitcoin — and cryptocurrencies in general — as they look to gain mainstream adoption. Just this week, JPMorgan Chase reportedly began using its own cryptocurrency, the JPM Coin, for some commercial transactions. If the JPM Coin proves viable, look for that success to usher in what could be a new era for cryptocurrencies.
SPORTS
You might not know the name Hikaru Nakamura, one of America’s top chess players, but chances are you soon will as the coronavirus pandemic seems to affect just about everything, including the American chess scene.
If men’s college basketball this year struggles to attract a meaningful television audience or fails to capture a significant amount of fan interest during the winter, look for the trend of top high school players going pro to accelerate dramatically beginning this spring.
The Los Angeles Dodgers captured their first World Series title since 1988 beating the Tampa Bay Rays 3-1 earlier this week to win the series four games to two. If Los Angeles shores up its shaky bullpen in the offseason, the Dodgers will unquestionably be the team to beat in 2021 and beyond.
Jeremy Pink 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. He is also a former CNBC television executive in New York, London and Singapore. Jeremy currently serves as an advisor to companies in media and financial tech.
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)