TV, streaming services, social and online radio, and podcasts on the rise !!
Out of all the impacts of the COVID-19 pandemic, one among them is the increasing consumption of at-home media. Since the whole country is in a state of lockdown since yesterday, people have gradually shifted to at-home media options.
Therefore, TV, streaming services, social and online radio, and podcasts have arrested the attention of most of the people in self-isolation. As soon as WHO declared the COVID-19 to be a pandemic, the media industry too has come to a standstill. The shooting, the pre-production and the production of movies have been halted and the release dates postponed. Along with this, the theatres and cinema halls are also shut down. Under these circumstances, the at-home media will be the major form of entertainment in the upcoming months.
The whole world is seeing an increasing dependence on the internet from their work and their entertainment. The major streaming services (like Netflix) and online platforms (like YouTube) have decided to tone down their streaming quality. This will effectively reduce the bandwidth load on the streaming platforms, as demand for content is on the increase. Furthermore, various reports have confirmed that in countries like Italy, linear, streamed, and connected TV usage has gone up by 35%. Whereas a Spaniard indulges in household viewing for around 6 hours daily now.
The Impact of Covid-19 in the advertising industry:
The advertisers and the media industry are even removing OOH at high traffic sites as a measure to encourage people to stay at home. In these times of social distancing, the companies are changing the way they advertise their brands. The focus is mainly on advertising on the internet and various streaming platforms, TV and radio channels.
So, as the major part of the world population is under self-isolation, TV and streaming services are giving people company. Needless to say, there is a considerable change in the way people perceive advertising and interact with brands.