Clark Biweekly 6 24 24

Author

Anthony Hazzard
June 24, 2024

Cord-cutting started with streaming and now extends to live TV! Read all about this and see if it’s a benefit for you later in this email.

💵 Today’s Top Stories
Checklist

Much like an annual physical with a doctor, Clark says this five-point annual financial check is a must. He does it himself every wedding anniversary. Read more.

Cell phone

Those devices you have lying around can be put to good use. Get inspired by one of these ways to give new life to your old technology. Read more.

Car Thief

Did you know cars with key fobs can help criminals steal your vehicle without even breaking a window? This simple purchase can keep thieves from driving off with your car any time. Read more.

Retirement couple savings

After a nearly-uninterrupted bull run from 2009 to ’21, we hit some rough years with soaring inflation. One in four U.S. workers now expect to retire at 70 or older. Read more.

Scam alert

Artificial intelligence (AI) has opened new avenues to scammers and criminals. It’s now possible to clone the voice of a loved one and make it seem like someone you know is calling asking for help. Read more.

🏠️ Today’s Current Mortgage Rates

According to Freddie Mac, 30-year mortgage rates are 6.87% and 15-year rates are 6.13% as of June 20, 2024. The following chart shows the 30-year mortgage rate trend over the last year.

📺️ Cord Cutting Trend Extends To Live TV Streaming

Cable TV started losing subscribers many years ago. So it’s not surprising that in the first three months of 2024, more than 1.2 million customers canceled at Comcast, Spectrum and Dish TV.

However, there are signs that the cord-cutting trend is extending to live TV streaming as well. Cord Cutters News wrote that “increasingly cord cutters are looking to on-demand streaming services first and live TV second.”

YouTube TV lost 150,000 subscribers in the first quarter of 2024. Cord Cutters News speculated that the end of the 2023 NFL season was largely responsible, with customers likely waiting until the fall to resubscribe.

Here are the total losses from Q1:

Comcast: -487,000
Spectrum: -405,000
Dish TV: -348,000
YouTube TV: -150,000

It’s notable that the NFL is a major factor for YouTube TV subscribers. Live sports continues to be the leading (only?) use case for live TV as being valuable.

According to Front Office Sports, recent media rights deals include:

French Open (tennis): +435% ($65 million)
NBA: +155% ($6.9 billion)
College Football Playoff: +115% ($1.3 billion)
NASCAR: +40% ($1.1 billion)

Interestingly, in the sports broadcasting world, streaming remains unsettled. ESPN, FOX and TNT announced a joint streaming effort this year that remains unclear. Diamond Sports, the largest regional sports network, has been working through a bankruptcy with continued uncertainty.

As streaming consolidates and moves from competing for customers to focusing on profitability, there are still some interesting unresolved issues.

📊 Stat of the Day

🚗 40%: Share of EV buyers in the United States who want to return to a combustion engine. This is according to a McKinsey & Co. survey. Reasons included range anxiety, high ownership costs and a lack of charging infrastructure.

💰️ Deal Alert: Today’s Top Deals
Patriotic
Woot
🎙️ Podcast

It’s time for "Clark Stinks!" Christa reads the latest "Clark Stinks!" submissions and Clark responds. Also, building materials are starting to come down in price and contractors are getting easier to hire. Plus, many homeowners are deciding to stay in their homes longer due to interest rates and the housing market. Is it time to start a project? Clark s‌ays there’s only one reason why you should ever consider a home renovation.

☎️ Need Money Help?

The Team Clark Consumer Action Center is a free helpline that can help you navigate your money questions. Call 636-492-5275. Visit clark.com/cac for more information.

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