Entertainment Industry Optimistic for Recovery Amid Pandemic

Senior executives within the entertainment industry are optimistic that the coronavirus disease 2019 (COVID-19) pandemic will not have any negative lasting effects on the industry in a survey done by Branded.

The survey, named “What Matter Survey,” asked the entertainment industry about what they think of the effects of the pandemic on the industry and the future of entertainment.

60 respondents for the survey held C-suite and senior executive roles within the Entertainment, Technology, Music, Sports, Digital Media industries, and FMCG companies.

In the survey, 70% of the respondents said that the effects of the pandemic on the industry would only last from one to two years, while 17% think the effects would last from two to five years.

It is undeniable that the pandemic has greatly affected the entertainment industry, however, the industry is somewhat optimistic about its performance in the next 6 months.

The survey also revealed that smaller businesses with an annual turnover of US$1-M or less feel less optimistic about the future market performance of the industry than larger businesses with US$6-M or greater.

The survey also reported the recent deterioration in mental health with more than a third stating an overall decline in the last six months. However, two-thirds of respondents report good levels of mental well-being currently.

The survey also revealed that work-life balance is a top priority for senior executives more than career development or salary.

The survey comes as Branded prepares to host this year’s All That Matters Online 2020 on September 14-18th, with delegates across the entertainment industry gathering online to build connections and hear from a diverse range of creative and business minds.

The interviews were conducted online by Branded in July and August 2020. (ASC)