5 Ways COVID-19 Affects The Entertainment Industry
The numbers are quite staggering. Over 70% of businesses are affected, and that includes those in the entertainment industry, all thanks to the effects of the COVID-19 pandemic on virtually every sphere of life.
Everything is spiraling out of place as everyone tries to adapt to the realities of the pandemic. The entertainment industry is one of the worst hit, and these five ways explain just how far-reaching the effects have been.
- Higher Online Media Usage
With nothing being quite the same anymore, more people have to stay at home. This includes stars and all their fans who would love nothing better than to watch or listen to them. As a result, there has been a sharp spike in online media usage. Streaming services such as Netflix, Hulu, and Disney Plus, have seen increased numbers of users in terms of on-demand contents.
The entertainers are not left out. Stars like Alicia Keys have treated fans, and medical professionals to soulful music via Internet platforms in order to provide hope and inspiration.
- Cancelation and Postponements. A barrage of shows, movies, cinematic contents, Opera houses, and other entertainment industry materials have been either canceled or postponed. This includes movies like Fast and Furious, and other others. Their installments have being scheduled for later in the year, 2021, or indefinitely. With no audiences and people basically worried about surviving, such TV shows and movies are left with no other option than to cancel or simply release their contents online. For example, Frozen II was brought forward by Disney while original contents like The Banker was released by Netflix.
- Event Managers out of Business
Events had already being planned and announced before the COVID-19 pandemic hit home. This, more than anything, made event managers redundant. Sure, it did affect other people but in the entertainment industry, event management is a must. Live events, and the creative process put in place to make them work are some of the job specifications of an event manager.
Since they can’t plan out events, they’re basically out of business. In addition, there’s really no need for their skills at a time like these especially when the whole world is looking for a long and lasting solution.
- Mass Job Loss
From the cleaner to some top-notch officials, there’s a lot of job losses making the rounds. If there was ever a notion of no job security, it’s mainly in the entertainment industry. In fact, countries like the United Kingdom have furloughed a lot of people including those in the entertainment industry. More so, funding has been cut over and over, and that includes wage cuts spread across all levels in the industry.
- Financial Oblivion
Movies, music, TV shows, skits, costs lots of funds. And banks are not as willing to release such funds because of the attendant risks involved. Even though entertainment moguls would have to dig deeper to get the money they need, the COVID-19 pandemic has impeded any form of debut movies or shows. There’s simply no way to navigate around such impacts except to wait.
In conclusion, the COVID-19 pandemic has led to a series of hard truths. The entertainment industry will never be the same without everything going back to normal.