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
Domestic box office revenues showed some strength on Christmas weekend, according to data from Box Office Mojo. The Christmas weekend box office gross totaled $24.2 million, the most since Labor Day, though still down from $197.2 million compared to last year’s Christmas weekend, according to Box Office Mojo. The summer box office performance will be a key gauge as to the overall recovery of the nation’s theaters as that’s when the pandemic is likely to be under control and it’s also when studios should release some blockbuster films.
It looks like last Saturday’s national telecast of an NFL game that ran on Amazon Prime and Twitch, and not a traditional broadcast network, fared relatively well, according to an NFL press release. The NFL says 10.7 million total viewers streamed at least part of the Arizona Cardinals-San Francisco 49ers game this Saturday — that total reached 11.2 million if also you include those who streamed at least part of the pre-game show. It is encouraging that viewers did manage to find and to watch the Cardinals-49ers game last Saturday despite its non-traditional distribution.
There’s more consolidation in the podcasting business as Amazon this week said it is buying Wondery, a large podcast production company. It’s the latest in a number of deals in the podcasting industry as companies like Spotify and SiriusXM have also made acquisitions recently. We’ll see even more consolidation in podcasting in the next two years, and we’ll also see a clear winner — or two — emerge as a result.
MONEY
Americans spent slightly more during the traditional holiday season this year compared to last year, according to data from Mastercard SpendingPulse, which reports on retail sales around the country. This holiday shopping data again shows the strength of e-commerce, which saw consumers shop online in droves due largely to the coronavirus pandemic.
Home prices are marching higher, according to data from the S&P CoreLogic Case-Shiller Indices released this week. The Case-Shiller Indices show that home prices nationally rose 8.4% in October — the most recent data available — compared to a year ago. If the housing market remains strong and if consumer spending picks up in the first few months of the year, which seems likely as the federal stimulus bill has been approved, the economy could be set for a strong start in 2021.
Despite surging coronavirus cases and despite the fact that US stock markets are hovering around their all-time highs, global institutional investors appear more confident, at least according to one measure, the State Street Global Investor Confidence Index. That index rose to a level of 104.1 this month compared to a revised 90.8 in November — a reading of 100 is considered neutral while a reading above 100 means that institutional investors have a healthier appetite for risk as measured by increased allocations to equities in their portfolios. Here’s what it could mean.
SPORTS
In the NFL Drafts of 2015 and 2016, teams chose quarterbacks with each of the top two selections. Interestingly, three of those four quarterbacks are no longer starters, and two have been traded from their original teams. It’s pretty amazing considering how much time, money and effort is put in to researching top quarterback prospects by NFL teams before they’re drafted. That said, Clemson quarterback Trevor Lawrence, the top prospect in next year’s draft, appears to be the closest thing to a can’t miss NFL quarterback that we’ve seen in many years.
As we enter the last week of the NFL regular season, it’s only fitting that the NFC East, the league’s worst division, still isn’t settled, and three of the four teams — Dallas, the New York Giants and Washington — could still emerge as division champion. Here’s why the Cowboys, who looked like they had no shot of being in the postseason just a few weeks ago, will win the division and host a playoff game.
In the NBA, the Orlando Magic were the league’s only team to start the year 4-0 though the team did lose their first game on Thursday. While it’s still very early in the season, the Magic do look like they could be a playoff team again — and even win a series — in the Eastern Conference this year. In fact, Orlando just might emerge as the surprise team of this NBA season.
Jeremy Pink is COO of Geniecast, a leading virtual content and experience company, and he is also currently an advisor to companies in the media and financial tech sectors. 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, and he 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)