The Impact COVID-19 Had On

The Entertainment Industry In

2020

Mohamad Hafiz Bin Shahri

PASK 0012
(ASK 0614)
What are the Challenges and Issues the Entertainment Industry having?

 
First lets see the facts:

U.S Industries with most jobs cut in March 2020

due to pandemic
90000

80000

70000

60000

50000

40000

30000

20000

10000

0
Entertaiment industry Automotive Services Non-Profits
What Is the Issue?
THE ISSUE IS
 Widespread Shutdowns of Entertainment
Industry

Why are these happening?

-Widespread shutdowns aimed to curb the spread of the

novel corona virus

-Movie theaters,concert and similar venues are close while amusement

park and tourist sites also remain shuttered to prevent the spread.

-As millions quarantined, viewers were forced to stay home for their video
entertainment hence why there were no revenue made.
 This Leads to…

1.This will effect Entertainment industry workers,many employees are not working
due to widespread of the virus.

2.Company will find alternative ways to prevent financial crisis.One way is they will
cut employees.

3.Making content,shooting film,any sort of entertainment business is harder then

before considering the strict protocol that had been implemented.

4.Cancellation of live events may result in potential claims relating to consumer

protection rights. Companies may face the challenge of refunding monies to
ticketholders which would put immense strain on the already slow economy in the
industry
 What are the social / economic implications?
1.Jobless workers will be indebt,it will force people into economic and financial difficulties which leads
to debts,stress and mental torture
-it will put a burden to a person and will worsening their mental health.
-suicide cases will increase in the upcoming years.

2.Company will lack of manpower but their financial crisis will be less.
-slow the production of a company.
-financial status of a company will be on the edge.

3.Need high cost.

-Entertainment base company need to invest in proper equipment to run a project such as mask,hand
sanitizer,cost to sanitize their workplace,sets,props etc.
-restrict social movement and work.

4.Off-schedule
-production company will most likely to postpone their project because of many factors such as
money,circumstances,economy,manpower, and shutdowns of entertainment industry.
-could lead to a decline in revenues 
 Solution to the problem
Vaccine!
-with herd immunity,we can break the chain of
the virus.
-Reopen the entertainment industry.
Emphasis shifts to cost control.
-optimize cash flow and maximize resiliency
-focus on the future of the company.
Reinvention.
-media and entertainment executives agreed that they
needed to reinvent their business or it would cease to
exist in five years
-The ongoing crisis has forced industry leaders to
activate transformation plans, shrink execution
timelines and experiment at lightning speed.
streaming is the future
-streaming services like netlfix,hulu,disney+ are the
future because it is more convenient and cost-
efficient to stream movies and TV shows.
-streaming services will be a niche pastime compared
to movie theatres
That is it for now,thank you!

Stay safe everyone,

WEAR MASK
&
Get the vaccine!