COVID-19 and media

Фото – з ресурсу Детектор медіа, https://detector.media

Due to the difficult epidemiological situation, the Cabinet of Ministers of Ukraine extended the adaptive quarantine in the country until July 31, 2020. In the conditions of pandemic and physical distancing, we were once again convinced of the importance of media for our social inclusion, to counteract isolation. And so it's important to be a media management professional.

Past crises have shown that the media industry has shown a capacity for cohesion, enhanced by the demand that arises during recovery. After all, customers want to be up to date with the news. They want to have fun. And the media industry, which spans the B2B and B2C ecosystem, continues to find new, engaging ways to inform and entertain customers.

Here are some tips from the world-famous consulting company PricewaterhouseCoopers (PwC) for media managers:
- If you work with real-time events that take place in stadiums, arenas, theaters, parks, recreation areas, etc., identify the current priorities of each group of your stakeholders (stakeholders) - spectators, media suppliers, sponsors, company employees, Media. Communicate with them clearly and transparently.
- Explore alternative ways to connect with spectators, such as virtual concerts or live events broadcast online. Connect players and sports fans through social networks.
- Submit digital content in open formats.
- Deploy virtual and augmented reality options to bring events to your viewers' homes.
- Determine which employees of the media company can work remotely without reducing productivity.
- Take care of cybersecurity.
- Limit the financial impact of force majeure by activating a crisis response plan.
- Review the main items in the financial forecasts. Simulate fast (aggressive) and slow (conservative) recovery scenarios to be ready for action.
- Prepare organizationally for the economic downturn, which may increase demand for media products and services.
- Focus on the company's risk management.
- Look for opportunities to become a positive factor in influencing public sentiment, emphasizing your values ​​and brand.

Source: Practical steps for responding to the coronavirus crisis, https://www.pwc.com/us/en/library/covid-19/coronavirus-impacts-media.html