Recession Impact Cocooning Will Protect Entertainment Spend
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Even before the global coronavirus outbreak, faltering confidence in the global economy suggested that a recession may be looming. With stock markets trending down following the upswing in coronavirus cases, the chances of a global recession are rising. Entertainment normally suffers in a recession, but MIDiA’s latest recession impact consumer data indicates that leisure spend may bear the brunt of any downturn in discretionary spend.
Companies and brands mentioned in this report: Amazon, Amazon Prime Music, Apple, Apple Music, Apple TV+, Netflix, Spotify
This is the second report in MIDiA’s Recession Impact research series.