The media industry is mostly in dire straits, particularly those dependent on advertising revenue. A media company that hasn’t rolled out pay cuts, furloughs and layoffs in this period is an exception to the norm.
Despite many publishers recording record traffic and viewing figures, the supply and demand economics of the ad market means ad prices have dropped and revenue has plunged.
Subscriptions have been a bright spot for some publishers, but there’s a question as to how long a coronavirus bump will last. Meanwhile, other businesses have felt the impact of the cancelation of live events, particularly those who rely on sports for a vast sum of their income. Elsewhere, newsstand sales have obviously reduced.
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