Today, HBO releases the first episode of U.S. Against the World: Four Years With the Men’s National Soccer Team.
It's worth your time.
Director Rand Getlin: “We wanted to create the highest quality sports documentary of all time. That’s the aspiration.” https://t.co/LTNb3mRnrI
This is a common misconception: People thinking your tax rate is FLAT therefore not wanting to earn more income because you’ll be in a higher tax bracket.
https://t.co/Vr7WGaJxoZ
The Tampa area is facing a potential 15-foot storm surge with Hurricane Milton. Here's video of a similar surge in Ft Myers during Hurricane Ian.
Terrifying.
My rent: $2,400
This is not the same as a $2,400 mortgage.
So the next time someone tells me I'm throwing away money and should buy a house and build equity, I'll be sure to remind them of all the hidden costs of being a homeowner:
The NFL recently signed an exclusive deal with Netflix for two Christmas Day games in 2024.
The world's most profitable sports league will reportedly make $75 million for each game, but this could be a sign of something much larger down the road.
Here's a breakdown 👇
For Netflix, the deal is a no-brainer.
They probably won’t see 3 million signups like Peacock did for its exclusive playoff game last year.
However, these games will help further reduce the company’s industry-leading 2% churn rate while also providing it with premium advertising inventory to support its new ad-supported offering.
Christmas Day NFL games are perfect for this because they will attract a live audience of ~20 million people.
Commercial breaks are also already pre-programmed into the viewing experience, meaning that Netflix will show these commercials to everyone regardless of whether you pay for the upgraded plan or not.
And the price wasn’t prohibitive, either.
The $75 million per game price tag (h/t @WSJ) is roughly what Netflix would spend on a mid-tier movie.
It’s also $25 million less than the $100 million Amazon paid for last year’s Black Friday game, even though Netflix will probably get 2x more viewers than the 9.6 million viewers on Amazon Prime.
Netflix will then charge advertisers hundreds of thousands of dollars for 30-second commercials.
And based on ~100 ad slots each NFL game, Netflix will recoup most of its investment before accounting for new subscriber signups and reduced churn.
But the real winner in all of this is the NFL.
The NFL recently signed a string of TV deals worth $110 billion over 11 years.
The more interesting part, though, is that the NFL can opt out of these deals after the 2029 season — and I think it’s a near certainty that they will do that.
For starters, NFL Commissioner Roger Goodell has openly discussed adding an 18th regular-season game.
The NFL would accomplish this by eliminating a preseason game, adding a second bye week, and then hosting the Super Bowl on Presidents' Day weekend, giving everyone a three-day weekend for the game.
This must be negotiated with the players and put into the league’s collective bargaining agreement.
But the players will agree to it because 1) they get a second bye week, and 2) they split revenue 50/50 with the league, meaning they will make more money, too.
And it’s not a coincidence that the current CBA expires around the same time as the NFL's TV opt-outs.
So not only would the NFL have an established relationship with all of TV's most prominent bidders — broadcast, cable, streaming — but they would also have an abundance of premium inventory to sell.
This inventory will include...
• An 18-game schedule
• Thursday Night Football
• Sunday Night Football
• Monday Night Football
• Week 1 Friday night game
• Thanksgiving Day games
• The Black Friday game
• Holiday season Saturday games
• Christmas Day games
• International games
• Playoff games
• The Super Bowl
• Sunday Ticket
The NFL has done an incredible job maximizing revenue by spreading its inventory across several networks and platforms.
This could eventually lead to subscription fatigue or oversaturation, but people have been saying that for years, and the NFL has only become more dominant.
Instead, my guess is that more premium inventory (think Christmas Day & Black Friday) combined with more bidders (Netflix, etc.) will be more than enough to secure the NFL another $100 billion-plus payday.
P.S. Follow me (@JoePompliano) for more sports business content!
BREAKING: The National Association of Realtors is eliminating the 6% realtor commission.
Here’s everything you need to know:
With the end of the standard commission, real estate agents in the United States will now have to compete for business and likely lower their commissions as a result.
This could lead to a 30 percent reduction in commissions, driving down home prices across the board.
Real estate commissions total around $100 billion per year in America.
With commissions potentially dropping 30%, that could put tens of billions of dollars back in the pockets of American home buyers and sellers every year.
A seller of a $500,000 home could save $9,000 or more on a 3% commission instead of 6%.
This is expected to drive down housing costs and significantly impact the U.S. housing market.
Housing experts predict that this could trigger one of the most significant jolts in the U.S. housing market in 100 years.
Economists estimate that this change could save American homeowners billions of dollars annually.
My advice - if you're selling a home soon, consider waiting to list until new lower commission models emerge to save thousands. Or negotiate commission rates aggressively.
@JimmyMiller_PB More “exciting” to play than watch…especially dink rallies. Dink rallies do not excite anyone. To any sports fan, dinking is boring as hell to watch
An iced coffee costs about $5 a day. That’s roughly $35 per week or $140 per month. Now you’re spending $1,680 per year.
Over the course of 10 years that’s $16,680, which is not enough to make a down payment on house.
So, enjoy your iced coffee.