COVID-19 has had a significant impact on the UK media industry. Some sub-sectors have prospered but most have been hit hard. Even those segments of the media much in demand, such as television, are facing rapidly declining advertising revenues. On the other hand, the pandemic has also opened up the possibility of new revenue models and new ways to engage with audiences.
Despite the significant impact, the media industry is much better placed to cope with this pandemic today than it was at the beginning of the century. COVID-19 has forced changes in dynamics between buyers and sellers, customers and suppliers, that could support future growth.
Our experts consider how the UK media industry could use this period to re-orientate their propositions, messages and content to better address changing consumer behaviours.
“The media industry has proved highly agile through previous economic and technological cycles, pivoting towards new digital platforms and embracing its creative skills to generate new and engaging content. It will need to demonstrate that agility once again.”
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