Are "Swifties" Good for the Football Market?

October 7th, 2023

Author

Amyn Dehal
October 07, 2023

The Weekly Snapshot

“Success is not final; failure is not fatal: it is the courage to continue that counts.” – Winston Churchill

Good morning. In this weekly snapshot:

  • Market Updates📈💵

  • Are ‘Swifties’ Good for Football?🏈🎤

  • Trump's Civil Fraud Trial: A Courtroom on Edge🇺🇸👨‍⚖️

📈 Market Updates

Economic Pulse🌎:

In monetary policy, the Biden administration relieved $9 billion worth of student debt from 125 thousand borrowers. Elsewhere, ADP data shows a weakening U.S. job market and mortgage applications are down over 22% from a year ago, potentially signalling pauses on future rate hikes. While US equities fell in anticipation of a potential government shutdown, Hong Kong’s HSI surged up 2.51% from a 10-month low, led primarily by tech stocks.

Money Moves📈:

On Wednesday, BlackBerry announced they will split their cybersecurity business from their Internet of Things business. Blackberry has targeted an IPO for the next fiscal year and said it will continue to consider separating other parts of its business. In other news, PNC Financial Services has acquired $16.6B of commitments from Signature Bridge Bank through FDIC. A majority of the commitments consist of loans to private equity firms. Across the pond, Italian firm Finnic is considering the acquisition of Autostrade per l’Italia, valuing the highway operator at about $21B.

🏈🎤Are ‘Swifties’ Good for Football? 

Is Taylor Swift and Travis Kelce’s relationship the best marketing the NFL has seen since the Super Bowl ads? It’s quite possible. NFL viewership, especially amongst women, has skyrocketed since the artist began attending NFL games to watch Chief’s tight end, Travis Kelce.

Here’s the Swiftie effect by the numbers:

  • Sunday night’s game between Kansas City and New York, which Swift attended, averaged 27 million viewers, the highest for a Sunday NFL game since last year’s Super Bowl.

  • 53% increase in viewership amongst girls aged 12 to 17.

  • Travis Kelce’s Instagram following shot up 300,000 in one hour, and his jersey sales spiked to absurd heights.  

This ‘Taylor Swift effect’ is not an unfamiliar topic – her recent Era’s tour generated $5 billion in revenue; a number larger than the GDP of some countries. If her mere presence at an NFL game can scale viewership by millions, imagine the long-term economic impacts of opening football up to an entirely new audience of teenage girls. Millions could be generated in ticket sales, advertising deals, and merchandising. Perhaps the NFL could benefit from Taylor’s version.  

🇺🇸👨‍⚖️Trump's Civil Fraud Trial: A Courtroom on Edge 

In the heart of New York, Justice Arthur Engoron's courtroom has become a theatre of high stakes and heightened emotions. As Trump's civil fraud trial unfolds, Engoron's patience is tested, particularly when Trump's defence grills former accountant, Donald Bender. Bender's revelations? A maze of financial inconsistencies and missing documents from the Trump Organization. 

The Trump Spectacle 

Enter Trump: a former President turned courtroom protagonist. Throughout the trial's early days, he consistently labelled the proceedings as a "witch hunt," taking every chance to spar with New York Attorney General Letitia James. But James stood her ground, firmly declaring, "The Donald Trump show is over." Her objective? A hefty $250 million fine and a potential business ban in New York for Trump. As tensions mounted, Trump left for his Florida residence after three days of trial. 

Social Media Firestorms and Gag Orders 

But what's a Trump saga without a twist? A controversial social media post targeting the judge's law clerk leads to a dramatic climax: a gag order on Trump. As whispers of his 2024 presidential ambitions grow louder, many wonder: Is this trial just the opening act? 

🗣 Word on the Street

Senior Editor: Amyn Dehal

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