Want to take an Uber over the hills?
Well, you can if you're headed to Cappadocia in Turkey. Uber just launched an experience called Uber Balloon which will let you take a hot air balloon ride over the UNESCO World Heritage Site Göreme National Park. It’s a volcanic stretch with hills and plateaus, streams and river valleys and interconnected ancient underground settlements. You could see all of this from 3,000 feet up in the air.
And Uber's actually been doing these unique experiences for a while through a campaign called ‘Go Anywhere’. You can take an Uber Boat in Mykonos, Greece and an Uber Sleigh in Lapland, Finland. And since Turkey has become quite a popular destination, the ride-hailing app simply decided to expand its wings.
What do you think would be a ‘Go Anywhere’ experience in India if Uber launched travel experiences here?
Here’s a soundtrack to put you in the mood 🎵
Pahal by Palak Mohan
Thanks for the rec Rohit Rathore!
A couple of things caught our eye this week 👀
Women’s sports FTW?
Between 1989 and 2019, women’s sports got only about 5% of the airtime on US television among all televised sports. And if you exclude the 2019 Women’s Soccer World Cup, the share drops to a dismal 3.5%.
But this 3-decade long eclipse seems to have ended now. A Wasserman (a sports media company) study backed by ESPN Research suggests that women’s sports now accounts for 15% of sports media coverage in the US. How did the magic happen?
See, the pandemic gave streaming a chance to shine. People became couch potatoes and watched everything online including sports. And unlike television, streaming didn’t require reserving separate time slots to air shows or matches. So they didn’t have to choose what to air. And that’s how more people watched women playing onscreen.
That might have encouraged advertisers to put in money between ad breaks of women’s games. And you can tell from the fact that the US television coverage of women’s sports was often scheduled at the same time as men’s leagues. They were competing with the likes of the National Football League (NFL).
Another instance involves a multimillion-dollar sponsorship deal that Disney+ and ESPN bagged from a banking company Ally Financial a couple of months ago. Ally poured in 90% of its overall investment into women’s sports, with a separate three-and-a-half-year agreement to become the first title sponsor of the ACC (Atlantic Coast Conference) Women’s Basketball Tournament.
So the advertisers who were earlier sceptical about betting on women’s games are now getting more confident. It actually clears the economic misconception that women’s sports aren’t a profit-generating endeavour. As a matter of fact, it is. Just that it didn’t share the stage equally.
Forbes suggests that between 2015 and 2018 the US women’s national soccer team generated greater revenue for the US Soccer Federation than the men. Of course, pay parity was far from equal.
By 2025, women’s sports could comprise 20% of sports media coverage. So we’ll only have to wait and see when higher women’s sports media coverage would translate into pay parity for women in sports.
Everyone except airlines wants free flight seats
Of late airlines have become the darling of controversial headlines. A new one is that passengers' complaints regarding seat selection fees have increased. So this week, the government warned airlines that every seat can’t be shown as a paid seat during web check-in.
But here’s the thing. Airlines may not be doing anything unlawful here. In 2015, the aviation regulator DGCA (Directorate General of Civil Aviation) allowed airlines to charge for unbundled services like check-in baggage, meals or even seat selection during web check-in. But the untold rule was that airlines had to keep a sufficient stock of free seats so that passengers indifferent about choosing the window or the aisle could select a seat at no additional cost. It would keep prices competitive.
Airline folks though were smart. They marketed web check-ins in such a way that people thought it mandatory to select a seat while checking in online. That’s not it. A LocalCircles survey also claims that nearly a third of air passengers had to pay extra for seat selection on a flight between October 2021 and 2022 as they didn’t have the option to choose a free seat.
This actually bumps up airline revenue by up to ₹70,000 per flight. And despite being a revenue booster, it’s still a dark pattern ― tricks websites often use to nudge you to do something when it may not be in your best interest. And if you’ve been a regular Finshots reader you’ll know that the government is cracking down on it. So, it’s one less way to make money.
How airlines will deal with it is anyone’s guess.
Jargon of the day ✏️
Money tips 💰
Should you pay off loans or save?
As you start adulting, you’re introduced to the concept of a credit card or a loan. And often you’re stuck between two choices. Should I pay off my credit card bill in full or pay an additional loan EMI? Or should I just park more money in investments and savings?
Well, let’s look at it this way. Paying just your minimum monthly credit card due accumulates interest. It’s a pretty massive percentage. Even with car, home or personal loans, paying one extra EMI a year can significantly reduce your interest burden and help you close your debt faster. So when you choose to repay a lesser amount of debt, just to park that money in savings it may not be the best thing to do. Interest burdens add on.
And what if you suddenly accumulate a lot of credit card debt and don’t have enough to pay it off? You’ll either have to break your savings account midway or take another loan. It’s an unnecessary headache.
A simple solution could be to build a regular saving habit after taking a look at your monthly EMIs. It doesn’t matter even if it’s a small saving. You’re still building some financial discipline. Focus on clearing off your loans as quickly as you can. And when that’s done, increase your savings by how much extra money you have.
They don’t say “time is money” for no reason. The more time you take to repay your loans, the more money you shell out. Be money-wise.
Readers Recommend 🗒️
Business Breakdowns | A Podcast by Colossus
This week we have an interesting recommendation by our reader Kartik Subramanian. It’s a podcast that breaks down one business in every episode. You could learn more about Boeing, the business of football, PayPal and even mobile gaming. Kartik tells us that the most recent ones he listened to were on FC Bayern Munich and Titan - 2 organizations/industries very different from each other. And he bets it’s worth a listen. Thanks for the rec buddy!
Finshots Weekly Quiz 🧩
It’s time to announce the winner of our previous Weekly Quiz. And the winner is…🥁
Akriti Agrawal! Congratulations. Keep an eye on your inbox and we’ll get in touch with you soon to send over your Finshots merch.
And for the rest of you, here’s your chance to grab the winner’s crown. Click on this 👉🏽 link, answer all the questions correctly and tune in next week to check if you got lucky.
Until then, don’t forget to tell us what you thought of today’s newsletter. And send us your book, music, business movies, documentaries or podcast recommendations. We’ll feature them in the newsletter! Just hit reply to this email (or if you’re reading this on the web, drop us a message: email@example.com).
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