Tuesday’s business headlines
INDIANAPOLIS (WISH) — Here’s a look at Tuesday’s business headlines with Jane King.
Goldman Sachs: Households burning through pandemic savings
The cushion of savings many Americans built up during the coronavirus pandemic is thinning out, and in some households, it’s already gone.
Goldman Sachs estimates that as of mid-January, Americans have spent about 35% of the extra savings they accumulated during the pandemic.
Early in the pandemic, Americans were socking away money at unprecedented rates. In 2020, they collectively saved 16.8% of their disposable income, well above the 8.8% they saved in 2019. But in 2022, the saving rate fell to 3.3%.
Weekly average gas price drops for first time in 2023
The average price for a gallon of gasoline in the United States fell last week for the first time this year.
The average price of gasoline in the U.S. was $3.44 per gallon on Sunday.
AAA says the current average in central Indiana is about $3.20 per gallon. That’s down 8 cents in the past week.
Fox sells out Super Bowl ads
Fox has sold all of its Super Bowl ad inventory, with some 30-second spots fetching upwards of $7 million.
Crypto ads are out this year, while booze ads are in.
Nearly 18 million Americans plan to watch the game at a bar or restaurant, meaning there will be lots of eyes on Fox’s Super Bowl ads.
Analysts at Ticket IQ say the game’s “get in” cost went from $5,600 per ticket one week ago to roughly $6,000 going into Monday morning. “Get in” prices reflect the cheapest seat in the stadium, including broker fees.
AMC changing ticket pricing based on seat location
AMC Theaters, the country’s biggest movie theater chain, is changing the way it charges for seats.
Ticket prices will now be based on seat location, meaning seats in the front will be cheaper, while more desirable seats in the middle will cost more. The ticket pricing initiative, called “Sightline at AMC,” will roll out at all of AMC’s roughly 1,000 movie theaters before the end of 2023.
WalletHub: Indy ranked 12th-best football city
A new WalletHub survey ranks Indianapolis as the country’s 12th-best city for football.
WalletHub compared more than 240 U.S. cities with at least one college or professional football team across 21 key metrics, with Pittsburgh at No. 1, followed by Green Bay and Dallas.
Indy was ranked No. 13 for NFL football and No. 144 for college football. The Circle City was ranked second-to-last on WalletHub’s list of most-accessible college football stadiums.