Super Bowl on Paramount and X's WWE Partnership | Bloomberg Technology

Super Bowl on Paramount and X's WWE Partnership | Bloomberg Technology

Tech Sector Performance and Concerns

  • The Nasdaq outperformed other benchmarks due to easing concerns about inflationary pressures.
  • Pinterest missed sales targets but experienced topline growth and active user growth.
  • Pinterest announced a deal with Google, leading to a recovery in after-hours trading.
  • Affirm lowered its transaction volume forecast for the year, causing concerns among investors.
  • Valuations in the tech sector are considered top-heavy, driven by the fear of missing out on technological advancements.
  • The sensitivity of the tech sector to interest rates and valuations is a concern for investors.
  • Economic data suggests that the dovish tilt taken by the Fed in December may have reignited the economy, posing a risk of rekindling inflation.

Paramount Global's Success and Super Bowl Plans

  • Paramount CEO Bob Bakish discusses the success of the NFL on CBS and the upcoming Super Bowl.
  • Bakish highlights the technological advancements that allow for real-time graphics and enhancements during the Super Bowl broadcast.
  • Paramount Plus offers a broad range of content, including news, sports, and entertainment, with 90% of sports viewers engaging with non-sports programming.
  • Bakish emphasizes the importance of a broad product offering rather than a sports-only streaming service.
  • CBS set a record for viewership since 1998 during the NFL season, with the Divisional Playoff Game setting an all-time record.
  • The Super Bowl is the biggest event in the world and is a significant showcase for Paramount Global.
  • Paramount Plus will be heavily promoted during the Super Bowl weekend, including advertising for Pluto, Paramount Plus, and the Bob Marley movie.
  • Paramount Global is focused on shareholder value creation through execution, driving Paramount Plus, elongating earnings in the traditional media sector, and opening movies.
  • The company is also exploring other options, including transactional ones, as it recognizes its value in terms of content and libraries.
  • Paramount Plus continues to grow and has the most net adds of any streaming service since its launch.
  • The company expects 2022 to be its peak streaming investment year, indicating progress towards profitability.

X's New Content Business and Interview with Vladimir Putin

  • X is launching a weekly series with the WWE, capitalizing on the significant interest in wrestling content with 59 billion impressions last year.
  • X is launching a new content business with original programming, including news, entertainment, fashion, sports, and wrestling.
  • The company has partnerships with 1000 publishers and content creators to build out its content library.
  • X expects to become profitable in the next couple of years through advertising revenue and subscriptions.
  • The company is targeting an audience that is vibrant and waiting for new content.
  • X has recently aired an interview with Vladimir Putin, which was published on its platform and also found on YouTube.
  • The interview generated discussion about the nature of the internet and the norms of American discourse.
  • There is a lack of transparency regarding viewership data on older platforms like websites, making it difficult to assess the reach and impact of content.
  • Jennifer Grygiel, a professor of communications at Syracuse University, discussed the significance of Elon Musk's interview with Vladimir Putin on X.
  • The two-hour interview provided unfettered information and sparked discussions on social media platforms.
  • The attention span of viewers on social media platforms is limited to shorter clips or very long content.
  • The interview highlighted the power of Musk's platform in providing access to information that is not usually available in the United States.

Super Bowl and Sports Betting Trends

  • Google Trends searches for the Super Bowl teams, Usher's hit single, and the Taylor Swift-Travis Kelce romance have skyrocketed.
  • Tech companies like Snapple and Uber are releasing Super Bowl ads to promote their platforms and services.
  • Fanduel CEO Amy Howe anticipates a record-breaking number of bets for the Super Bowl, with over 600 different markets available for betting.
  • The Super Bowl serves as a significant acquisition moment for sports betting platforms, attracting new users who are exposed to the excitement of the game within the game.
  • Fanduel CEO Amy Howe reports that 33% of new activations on their platform are women, demonstrating the platform's broad appeal.
  • The legalization of sports betting in the United States has attracted a younger audience, but as the industry matures, a broader range of users, including older generations, are participating.
  • Partnerships with the NFL and NBA have helped make sports betting more accessible and exciting, with most bettors wagering less than $20 on the platform.
  • The presence of celebrities like Taylor Swift at sporting events has generated significant betting activity, particularly on player prop bets related to Travis Kelce.

Affirm's Performance and Consumer Credit Market

  • Affirm CEO Max Levchin dismisses concerns about a slowdown in transaction volume growth, emphasizing

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