The COVID-19 pandemic has been a crisis in every industry, and the media and telecom one has not been an exception. The global economy has been twisted and this pandemic will leave every business struggling to navigate through and get back to the normal status. Working remotely has become the new norm for workers in many organizations, and even though some are enjoying, other industries like media and telecom are hurting. The impact on TV media and Streaming tools spreads either for the short, middle, or long term.
The telecommunication industry has suffered a tremendous reduction in revenues because there are changes in mobile charges since no international movements allowed. However, many people used data while out of home, and with the cessation of movement, they cannot do it. However, mass home working has proven to be an addition to revenues for the telecommunication service providers. Many sectors have transitioned to digital models thanks to the COVID-19, thereby benefiting the telecom industry in disguise. Now that businesses have transitioned accordingly, the hosting providers have enjoyed an increase in their capacity, because they can still reach anyone. A lot of things have stopped including travel restrictions, school closures that have accelerated data usage, thereby boosting the revenues for the telecom companies.
The media industry has several sectors, and the implications of each vary differently. E-sports as well as gaming have received massive opportunities even if many events have been canceled. Others like cinema, B2B, and theater have experienced outstanding challenges. Sports and film production have experienced short term problems but the field is in resilient demand, meaning that it will come to life after the pandemic. There are ready-made Streaming tools to be used on resumption because the TV media is still in operation. TV viewing and advertising are not expected to suffer from the pandemic because many people are still working remotely, meaning that the TV media. Trade shows have been canceled and digital events are meant to replace the in-person ones. Also, exhibitions and B2B events are supposed to follow the same route, and the media industry will have a diversified way of streaming revenues.
Sports and film have been suspended thanks to the novel COVID-19 pandemic, and this has caused a massive revenue loss until all the sporting stakeholders are cleared as safe to play. Social distancing has been one of the measures to avoid the spread of the virus, and in this, the media industry has suffered a dip in revenues.