Coronavirus Effect on Media Houses
- To outline some of the media houses that are addressing the coronavirus crisis.
- In the first week of March 2020, the box office has experienced a 60% decline from 2019, due to the coronavirus crisis.
- The National Association of Theater Owners (NATO) has taken the initiative to request the federal government for aid to support over 100,000 staff members in movie theaters during the coronavirus crisis.
- Streaming services such as Netflix are likely to experience an overwhelming subscription due to social distancing. Since the start of the year to mid-March, Netflix’s shares have gone up by 12.5%.
- Investors are favoring Netflix as it is relatively virus-proof due to the zero exposure to epidemic-related environments. Thus, the company stands to benefit more should the epidemic intensify and people avoid public places such as movie theatres.
- Even though Disney’s media empire has been rendered empty due to the coronavirus outbreak, with its theme parks closed, Disney is making the best out of its streaming services, such as Disney +.
- Recently, Disney announced that it would make Frozen 2 available on Disney + by March 15, to help families contain anxiety during the coronavirus crisis. This has been prompted by the successful theatrical release, which has raked in $1.4 billion worldwide.
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