Despite a lack of clarity on when the current sad state of affairs comes to an end, we have a strong belief that the production and distribution of media content will be permanently changed by this crisis.
Those are the ominous words of Michael Nathanson, Senior Analyst at New York investment house MoffettNathanson. He fears that the COVID-19 pandemic has created another period of economic duress, accelerating shifts in consumer and corporate behavior.
Nathanson now believes that “the fundamental pillars of media,” which were starting to crack heading into 2020, are crumbling. This could be a permanent wound … or is it? He likened it to how radio advertising was “mortally wounded” in a prior recession.