Global mosaic

Analysis

COVID-19 outlook on the US media & entertainment industry

Recover: Insights from The Center for Technology, Media, and Telecommunications

There are four key strategic issues that media and entertainment organizations should consider, to recover from the crisis while laying the foundations for a thriving future.

Positioning US industries for a stronger future

The continuing COVID-19 crisis is creating enormous uncertainty and change—and questions with no obvious answers: Which changes will persist? What will the new world look like? How will people and organizations adapt? Even as US technology, media, and telecommunications companies focus on responding to the global pandemic and its immediate repercussions, they hopefully will soon need to pivot toward recovering from the crisis and setting themselves up to thrive in the next era. Sudden change can loosen old foundations, creating opportunities for greater progress. Companies should reassess what and how they sell, how they operate, and how they can forge stronger and more direct relationships with consumers.

This series will frame a discussion and explore what’s changing, what strategic issues to consider, their impacts, key actions to take, and questions to ask. There are many different scenarios, and we may not have all the answers yet, but we can act with foresight to better position ourselves for a stronger and more resilient future.

Key takeaways

To recover from the crisis while laying the foundation for a thriving future, media and entertainment organizations should consider four key strategic opportunities:

  • How to adjust business models and technologies for better consumer engagement
  • How to redefine relationships with advertisers during the spending pullback
  • How to reinforce content production and distribution to be “future-proof”
  • How to prepare for new consumer behaviors that may become permanent

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