Coronavirus spoils the show for media and entertainment business

While the global pandemic has changed the nature of businesses all around, it has shaken up the already rocky world of media and entertainment (M&E) more than most. Even as audiences have ballooned for stay-at-home entertainment, advertisements have run dry, as have opportunities for traditional media businesses. This marks a life-changing moment for the industry, say market researchers.

The industry is at the cusp of a transformation, according to an EY report that came out in the early weeks of the Covid-19 onslaught, in February. Traditional business models were under threat from a variety of factors — changing audiences, new