COVID-19’s impact on the media in 8 charts

What's New in Publishing 09 Jun 2020 07:15

It’s too early to understand the full implications of the COVID-19 pandemic and its impact on publishers. 

For some, it could be an “extinction-level event” with outlets around the world being affected. Others may emerge stronger, as a result of increased digital subscriptions, revenue diversification, and reduced – or hollowed-out – competition. 

Whatever happens, it’s likely that the industry will look very different on the other side of this crisis. Given all of this uncertainty, what do we know about the current media landscape? 

Although there are some data-lags, we can discern some notable trends. Here are eight of them:

1: Marketing Budgets are down worldwide

“Almost all product sectors will record a decline this year,” WARC recently revealed, “with the most severe falls seen among travel & tourism (-31.2%), leisure & entertainment (-28.7%), financial services (-18.2%) and retail (-15.2%).”

The company published the data in its latest monthly Global Ad Trends report. This makes for sobering reading for publishers who remain heavily advertising dependent. 

2: COVID-19 has changed our media habits

3: Publishers are producing new products

4: Some local outlets are seeing a coronavirus bump

5: Pandemic-led subscription gains are holding steady

6: Consumers want brands to run “normal” ads

7: Global advertising down in 2020, but digital remains strong

8: Consumers, more than ever, need a broad content mix

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FIPPBrian WieserGroupM
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