COVID-19 Impact on Entertainment Demand and Behaviours
The 20,000 Foot View: 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 Impact on Entertainment Demand and Behaviours webinar.
- An additional of additional attention time has been freed up amongst consumers working from home during lockdowns
- In mid- to late March, music streams fell by in the US and in the UK
- The UK and US have seen an increase in radio listening – up by respectively
- Radio programming has benefited from the ‘three Cs’: comfort, connection and of US consumers and of UK consumers are now watching more TV during lockdown
- Video streaming saw a rise in the US and rise in the UK
- Cost-conscious pandemic programming will become standard to absorb commissioning of US consumers have increased their time spent playing online games during lockdown
- 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 reevaluation the longer lockdown persists
- Sports streaming services need to reduce 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.