COVID-19 effect on our industry
How is COVID-19 affecting the entertainment industry? We’ve never experienced such disruption before. With the arrival of COVID-19, stocks are riding a roller coaster, schools are shuttered, and people are closed up in their homes, isolated and worried.
While we don’t know how long the coronavirus will last, we can use this time to consider the future. Entrepreneurs have always had to be agile and innovative. And now, more than ever, those skills are crucial.
How is COVID-19 affecting the entertainment industry?
Well, we’re all on lockdown and self-isolated. All over the world, businesses, schools, and corporations have closed, and the domino effect touches all of our lives.
An avalanche of hasty cancellations signals delays on events that serve as engines of commerce for all kinds of professionals.
Our neighbors on the West Coast are taking beatings in the film and TV production sector, and we are not far behind. We at OTE are a part of all the significant parades that happen in our fair city, including the St. Patrick’s Day parade, which the city canceled for the first time in over 50 years. It makes sense to cancel city-scale events to reduce the risk of infection, but such cancellations hurt many different industries.
New York is a Mecca for live events. All the major television networks run their pre-recordings with live audiences or go on location and do the same. This format is now not even a possibility as production teams are taking the necessary precautions to contain this virus. Studios have laid off staff members and kept only essential personnel.
What about the fashion industry?
The coronavirus arrived in the midst of the fall 2020 fashion month season. Designers and fashion houses decided to postpone their shows or shut their doors completely major. Events such as the Met Gala and that the FDA Awards have been postponed indefinitely, and houses like Burberry, Armani, and Cartier have canceled their showcases. One domino effect of these cancellations is the loss of pop-up locations throughout the city.
Prada, Versace, Ralph Lauren, Louis Vuitton, Max Mara, and others have postponed their shows indefinitely as well. Since fashion is ahead of the curve when it comes to presenting trends, this not only impacts line debuts, but it’s also gutting the industry at its core. Everything from campaigns to ads is now delayed or scrapped altogether.
In the fashion industry, ads are shot with small groups of people interacting closely. It’s vital for your stylists, hairdressers, production coordinators, and even PAs to communicate closely. With human interaction severely limited, it’s nearly impossible to shoot ads as usual.
What’s to come
If COVID-19 has hampered your business, know that you’re not alone. For now, we are all united in preventing the spread, even though we’re physically apart and isolate.
One thing is for sure: the entertainment industry will change like everything else. Necessity is, indeed, the mother of invention, and we already see innovative and creative approaches to doing business. While you’re away from your contacts and colleagues, brainstorm about future projects and how you might improve your organization to be nimbler, healthier, and more in touch with your customers.
We’re here for you and ready to work with you on upcoming projects. To discuss arrangements and even new, novel approaches to your work, get in touch. Until we speak, stay safe and healthy. We’re all in this together.