COVID-19 Impact on Entertainment Demand and Behaviours
Added on 10th May, 2020 by Dara Jegede
The 20,000 Foot View: COVID-19 is having a clear and direct impact on the entertainment and media industries, driven by investor uncertainty – resulting in plummeting share prices – and restrictions on movement of people leading to quickly-transforming consumer behaviour patterns. Now the key questions entertainment-focused companies must ask themselves are: does your business have the right strategies to weather current market conditions? Should you prioritise particular territories? What content is relevant to your consumers at this challenging time? What are the available opportunities now, and after the pandemic? This report summarises the key insights delivered in MIDiA’s April 2020 COVID-19 Impact on Entertainment Demand and Behaviours webinar.
- An additional 15% of additional attention time has been freed up amongst work-from-home consumers
- In mid- to late March, music streams fell in the US and in the UK
- The UK and US have seen an increase in radio listening
- Radio programming has benefited from the ‘three Cs’: comfort, connection, companionship
- US consumers and UK consumers are now watching more TV during lockdown
- Video streaming has seen a significant rise in the US and in the UK
- Cost-conscious Pandemic programming will become standard to absorb commissioning constraints
- US consumers have increased their time spent playing online games during lock down
- Compared to video, music and sports, gaming is arguably better positioned to weather the storm and emerge stronger at the other end
- The entire sports rights landscape is likely to undergo a re-evaluation the longer lockdown persists
- Sports streaming services need to reduce a consumers’ justification for churning out of their ecosystems in the future through broadening their content offerings
Companies and brands mentioned in this report: Amazon, BBC, Comcast, DAZN, Disney, Disney+, Epic Games, Fortnite, English Premier League, ESPN+, Hulu, Houseparty, La Liga, NBCUniversal, Netflix, NBA ,NFL, NHL, MLB, Peacock, Pokémon Go, Spotify, Tencent, Twitter, UCL
Note: A recording of the webinar is available here.
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