No other modern Olympiad has ever been postponed, but some have been cancelled because of war, including Tokyo’s planned Games in 1940. How the pandemic will change the industry in the future depends a lot on the country. Nearly 90 percent of the world’s museums have had to close, and reopening them has already proven to be a tremendous challenge. There is so much work right now that our problem isn’t the virus; it’s that we can’t find the people we need. By David Clay Large, a senior fellow at the Institute of European Studies at the University of California, Berkeley. States … Companies that rely on physical experiences and spaces will likely be challenged to reinvent their practices and content to ensure they are more agile and prepared when the next crisis eventually comes. FP’s preemptive preview of the coming administration. There is obviously a cultural resiliency to our yearning for sports. Gradually, the industry returned to production with big adjustments, including virtual writers rooms and table reads and strict COVID safety protocols on set. This crisis is an opportunity to preserve the best of the old era while moving forward to imagine and create a renewed industry. The virus completely ended this business, after streaming had already eroded it by going directly to the consumer. For many, that loss is an existential experience. Cases are down, and there is so much work in film right now that our problem isn’t the virus; it’s that we can’t find the people we need. Other installments include: How the Global Order Will Be Changed Forever by John Allen, Nicholas Burns, Laurie Garrett, Richard N. Haass, G. John Ikenberry, Kishore Mahbubani, Shivshankar Menon, Robin Niblett, Joseph S. Nye, Jr., Shannon K. O’Neil, Kori Schake, Stephen M. Walt, How the Economy Will Look After the Pandemic by Joseph E. Stiglitz, Robert J. Shiller, Gita Gopinath, Carmen M. Reinhart, Adam Posen, Eswar Prasad, Adam Tooze, Laura D’Andrea Tyson, Kishore Mahbubani, How Urban Life Will Be Transformed by Richard Florida, Edward Glaeser, Maimunah Mohd Sharif, Kiran Bedi, Thomas J. Campanella, Chan Heng Chee, Dan Doctoroff, Bruce Katz, Rebecca Katz, Joel Kotkin, Robert Muggah, Janette Sadik-Khan, The Future of Government by James Crabtree, Robert D. Kaplan, Robert Muggah, Kumi Naidoo, Shannon K. O’Neil, Adam Posen, Kenneth Roth, Bruce Schneier, Stephen M. Walt, Alexandra Wrage, The Future of Travel by James Fallows, Vivek Wadhwa, Pico Iyer, Rolf Potts, Elizabeth Becker, James Crabtree, Alexandre de Juniac, The Future of Schools and Universities by Arne Duncan, Andreas Schleicher, Mona Mourshed, Jennifer Nuzzo, Ludger Woessmann, Salvatore Babones, Davesh Kapur, Michael D. Smith, Dick Startz. Johannesburg - In the future, the Covid-19 virus may end up losing its bite, causing just mild flu-like symptoms in those it infects, a new model has suggested. Barbara Czyzewska, head of our Bachelor specialization in Luxury Brand Management, offers an expert perspective on the post-COVID prospects for the luxury industry. The pandemic is transforming urban life. Hollywood Will Never Be The Same After Coronavirus It has been around three months since the first cases of the virus now known as COVID-19 were reported in the Hubei province of China. In the perpetual war over broadcast deals and playing schedules, it easy to imagine the superpowers winning handily, and smaller cricketing nations falling in line. Elsewhere, the industry has been absolutely devastated. The coronavirus has killed every branch of the Hollywood business model, and no respirator will ever revive it. More than ever before, we are investing in and thinking creatively about new ways to support and expand those connections digitally, whether through streaming, augmented or virtual reality, or enhanced storytelling. Of course. COVID-19 will accelerate the arts’ ability to connect with audiences through technology. Sets and props assembled by thousands of craftspeople have been traded for a green screen, and individuals at computer monitors build the cinematic worlds we see. ESCAP - Expert Opinion : The Future of Tourism Post-COVID-19 Many estimates are being thrown around about the potential impact of COVID-19 on global and national economies. The pandemic has been devastating for culture and the arts. “I think we’ve seen the end of packed dining rooms for quite a while. But the crisis has also shown us how centrally important culture is for our lives and identities. An even more urgent issue is that countless artists all over the world have been left without any income. Enthusiasm for the extravaganza has already plummeted in Tokyo, and it would be virtually impossible to find a replacement city willing to take the tremendous financial risk. Before the onset of the pandemic, the international museum community was bursting with strength. In the short term, both international and domestic players will probably feel the pinch of cancelled and postponed tournaments that helped them get by. The world must come together to safeguard our cultural heritage. Covid-19 leaves news and entertainment industries reeling. Experts predict that COVID-19 will cut US$12 billion out of the entertainment industry in the United States alone. This message will not be visible when page is activated. What Events Professionals Need to Know About COVID-19. Some sports work better with precautions than others. Analysis: A fast return to business as usual seems unlikely for the industry: leaders must first define and prepare for what the construction industry will look like after the crisis. The virus just hastened this transformation: Streaming films at home has been displacing theaters for a decade, and this change was coming, virus or no. The pandemic had an immediate effect on sports. The bigger question is about long-term shifts and psychological effects. Slowly, the first venues are reopening—socially distanced, of course. With people confined to their homes, our social lives have moved online and entertainment consumption has risen notably within the at-home segments of television, online gaming and over-the-top (OTT). The core profit center for the motion-picture business since the 1910s has been theatrical distribution—getting those celluloid prints, and later hard drives, into projection booths nationwide. A podcast by our professionals who share a sneak peek at life inside Deloitte. For now, this is about limiting visitor capacity, requiring pre-booking, registering contact information, and ensuring sanitized galleries and public spaces. But it reminds me of when I first started culinary school. They are designed to bring people into close proximity for a collective experience. The coronavirus has killed every branch of the Hollywood business model, and no respirator will ever revive it. Smaller international cricketing teams with fewer television revenues, such as West Indies, have had to borrow funds to tide them over the pandemic. Without exaggeration, the effect of COVID-19 on the performing arts has been devastating. Everyone was shut down, from production to the cinemas. Culture Shock Nine experts on the future of education after the pandemic. Even after employers begin to rehire millions of those whose jobs have vanished in recent weeks, the aftershocks could affect how much consumers are willing to spend on movies, live shows, vacations, and even subscription services. Tokyo has already suffered twice. The pandemic will change the world forever. ... During And After COVID-19. DTTL (also referred to as "Deloitte Global") does not provide services to clients. And there are no reopening dates scheduled: A typical disaster movie ends with a resolution after two hours, but the broader reality for the M&E industry is a considerably longer period of triage, pragmatic continuity, and contemplation of the new normal, whatever that might look like. Will the performing arts look different going forward? Qantas has said it would likely require passengers to have proof of a COVID … Worldwide and at all levels, just about any kind of sport was shut down. COVID-19’s legacy will instead live on in the acceleration of the sport’s growing inequalities, especially between the handful of international teams around whom the global game revolves. Many of the Marvel Studios movies shoot in Georgia, which is rapidly becoming a test for how the film industry will reopen after the COVID-19 pandemic. After Coronavirus, Entertainment Will Never Be the Same The pandemic is revealing pressure points across the industry as consumers are left … Many content creators are celebrated for their rich heritage and connection to a romanticized era. The Antwerp Olympics of 1920 were held under the lingering effects of the devastating Spanish Flu pandemic of 1918-19, and they suffered accordingly. Cricket’s superpowers—India, England, and Australia—will accumulate even greater clout, altering cricket in ways that go beyond the game. The Future of Travel After the Coronavirus Pandemic ... months of being mostly grounded have given the airline industry more time to plan and prepare. The chance to rebuild such a mature industry is rare. See Terms of Use for more information. Few things will be as they were. There is still no return to live performances in our hall in sight. After all, entire segments of the industry - in particular, movie theaters, live and out-of-home experiential entertainment - have shuttered. There is so much work right now that our problem isn’t the virus; it’s that we can’t find the people we need. Basketball and football games are thinkable (if less enjoyable) as television-only events, but the Olympics have been just as much a festival of nationalities among spectators as among the athletes. Even after there is a vaccine, some fans may not want to wait in long lines and sit shoulder-to-shoulder with 60,000 strangers. (Alex Brinkman on Unsplash) According to a special forecast revision from STR and Tourism Economics, the U.S. hotel industry is projected to report a 51-percent decline in revenue per … By Audrey Azoulay, the director-general of UNESCO. As part of ... More. In fact, we’ve seen record ratings or multi-year highs in hockey, golf, soccer, baseball, and basketball. Culture helps anchor us in the present and allows us to imagine the future. As recently reported in the Los Angeles Times, the media and entertainment industry has been significantly impacted by the new normal presented as a … By Mark C. Hanson, the CEO of the San Francisco Symphony. Sports, like the rest of society, will adapt. Barring a successful and widely available COVID-19 vaccine, that’s how long several music business insiders say it may take for the concert and touring business to return to … Golf and auto-racing are just as watchable, but an NFL game may need crowd noises added for television. Please enable JavaScript to view the site. Do not delete! The silver lining:  renewed calls for player protections in a notoriously unregulated sport. COVID-19’s effects on supply, demand, and industry dynamics When the pandemic hit Iceland, I was directing a production for Netflix. After the darkness, the first professional sports are back—with major changes, of course: Empty stadiums, team bubbles to keep the players healthy, announcers and TV producers working remotely. The live music world is set to lose $5 billion, and long lead times standard to the industry make it likely that the after-effect of the COVID-19 pandemic will echo far into 2021 and beyond. To learn more about the current state of events and how other event leaders are responding to COVID-19, download the Post COVID-19 Event Outlook Report. Discover Deloitte and learn more about our people and culture. According to PwC’s Global Entertainment & Media Outlook 2020–2024, the COVID-19 pandemic has accelerated and amplified ongoing shifts in consumers’ behaviour, pulling forward digital disruption and forging industry tipping points that wouldn’t have been reached for many years. The cliché of the starving artist has gained new currency, as hundreds of thousands in these industries are either out of work or waiting for their furloughs to become layoffs. Making production sets, live venues, theaters, and theme parks physically and psychologically safe for employees and consumers will be a significant challenge. Quarantined indefinitely. The virus has delivered a final blow to an already moribund patient, put on its deathbed by streaming services such as Netflix and 21st-century computer technology. ... Fur industry faces uncertain future due to Covid. Forced by necessity and powered by creativity, digital reinvention is gathering speed. Gone was the age-old practice of shining cricket balls with spit. ... Entertainment. For now, what is most important is to keep firmly in mind the individual and communal nourishment that museums provide as we emerge with strength from the darkness of today’s pandemic—and the essential role that museums must continue to play in our lives for a long time to come. As much as venues reopening will likely be a positive signal for the industry—and for society in general—things will not return completely to normal right away. Experts Predict What Life Will Be Like After A COVID-19 Vaccine Arrives. We were the guinea pigs to see if it could work. Tokyo has already suffered twice—who wants to be Tokyo Number Three? Finally, the road to recovery will likely hinge on the health of the broader economy. I’m convinced that companies like ours that screen and send people to get tested help break the transmission. ... Kumar pointed out that our health system will only be more prepared for any future health crisis or future coronavirus outbreaks after … There is obviously a cultural resiliency to our yearning for sports. Indeed, the longer-term effect of the coronavirus on the Olympics may well be that fewer cities show interest in hosting them. I think you’ll see the U.S. film industry produce more in other countries before they can feel safe at home again. The most obvious victims of the virus are movie theaters, which have been irretrievably devastated. According to a recent UNESCO survey, nearly 90 percent of the world’s museums have had to close, at least temporarily, and reopening them has already proven to be a tremendous challenge. Global entertainment giant Cirque … The aviation industry has navigated significant challenges in the past, most recently 9/11 and the 2008 global financial crisis, after which passenger numbers flatlined for 2-3 years before continuing their upward trajectory. Within less than an hour, the National Basketball Association halted all games after a player tested positive for COVID-19, the president of the United States announced a Europe travel ban, and actor Tom Hanks tweeted from a movie set that he had contracted the coronavirus. She is a seasoned executive with more than 20 years of experience helping clients enable growth thro... More, Michal (Mic) is a principal in Deloitte Consulting LLP and the National Sector leader for the Telecommunications, Media & Entertainment practice for US Consulting. Where domestic leagues have been up and running, many players have chosen the smaller but certain payday of club cricket over the financial insecurities of playing for the more prestigious but stressed national team. By Kayleigh Donaldson Mar 20, 2020 The coronavirus has dramatically impacted Hollywood, and the entertainment industry will never be the same again. Danny is a key architect and thought leader on direct-to-consumer and streaming platforms. Brian Stauffer illustration for Foreign Policy. And we must allow every person to have access to the full diversity of culture. ... As the theatre industry takes steps towards reopening after being closed for the majority of 2020, I'm reminded of this concept. The road to brighter times for business events will take flexibility and understanding from venues, hotels, and other partners. The silver lining: Eventually these developments will lead to renewed calls for player protections in a notoriously unregulated sport, including a minimum wage and other forms of welfare. But one by one, museums are testing ways to create a safe visiting experience without hampering the joy they traditionally bring to their audiences. Depending on how soon the virus is contained, Deloitte’s US Economic Forecast for Q1 2020 sees a 50 percent probability of a recession and a 30 percent chance of a financial crisis. While I can’t predict the future, I do know that when audiences return, the pandemic’s legacy will likely be that it accelerated the arts’ ability to connect with audiences through technology. Stock prices for major streaming services, traditional entertainment conglomerates, and brick-and-mortar exhibitors have plunged amid the COVID-19 outbreak. The crisis has also demonstrated the incredible opportunities offered by digital technologies to connect culture with audiences across the world, which will no doubt continue as a major trend moving forward. After all, many tourists are already paying substantial sums to go to see the pigs – and having a little extra to ensure the pigs remain in future, and in good health, is a sensible decision. Many museums remain closed. Dick Lippin, a veteran communications executive, offers perspective in this guest column on how the entertainment industry can help the nation rebound from the COVID … The concentration of power and influence will have repercussions. For many people who make a living in the entertainment industry, life as they knew it abruptly changed in late March when the spread of COVID-19 forced every aspect of the business to shut down. Three strategies to consider in the year ahead, Recover: Insights from The US Center for Technology, Media, and Telecommunications. How will people and organizations adapt? I have no doubt that we will look back on this moment and recognize it as an impetus that served us well in the post-pandemic world. Cities that win this “prize” are likely to make considerably less upfront investment in new infrastructure such as sports venues, hotels, and transportation links than is currently the case. Amid continued transition to subscription-based models, advertising remains important to M&E segments, and the rapid spending decline represents another challenge. “To predict how the industry is going to look after this is all over is a tough feat. Here's how and where we might start traveling again as we settle into a … The COVID-19 crisis is the kind of situation that our world has never experienced before. In the coming years, it will be crucial to build a viable future for culture and support those involved in its development. Going forward, museums will need new strategies for producing and presenting rich programming while no longer being able to rely on the robust attendance figures that have helped enable their success—and for continuing to engage and educate their audiences both on-site and throughout the communities they serve. The film industry in Iceland will grow because of the pandemic. We asked 12 leading global experts in urban planning, policy, history, and health for their predictions. But to thrive, companies may need to break old models and build new ones that support a return to growth. We must ensure stable living and working conditions for artists to flourish. New forms of digital experience will not replace the live concert, with its visceral, emotive power to connect us. There is obviously a cultural resiliency to our yearning for sports. And as long as there are fans excited to see their favorite players and teams, and cheer for their home cities and countries, sports as a business will continue to be healthy and prosperous. Culture Shock... Perhaps no other sectors have been as devastated by the coronavirus pandemic as those that enrich and entertain us, from culture and the arts to sports and entertainment. Cricket returned in early July, its appearance slightly altered. DTTL and each of its member firms are legally separate and independent entities. COVID-19 outlook on the US media and entertainment industry May 2020, Principal | US Tech, Media & Telecom Leader, Telecommunications, Media & Entertainment, Positioning US industries for a stronger future, Rebooting and rewriting media and entertainment, 2021 media and entertainment industry outlook, COVID-19 outlook on the US sports industry, Technology, Media & Telecommunications (TMT), How to adjust business models and technologies for better consumer engagement, How to redefine relationships with advertisers during the spending pullback, How to reinforce content production and distribution to be “future-proof”, How to prepare for new consumer behaviors that may become permanent. Europe's fur industry is back in the spotlight after Denmark's mass culling of millions of mink following an outbreak of coronavirus at farms in the country. All segments — movies, television, mobile video, music, games, … When the pandemic eases, the crowds and the cheers will return to stadiums. More than 95% of event marketers agree that in-person will be back. Coronavirus: Business and technology in a pandemic Our post-coronavirus future: 7 ways the tech and services industry could be transformed Cold storage: COVID vaccines chill with helpful RFID chips M&E companies rely heavily on positive consumer sentiment and social activity, so a disruption that keeps people at home—either voluntarily or by decree—is almost an existential challenge. Even the Hollywood majors’ ancillary market, DVDs and Blu-rays, has been eliminated by streaming. The recovery phase will likely require M&E companies to have the determination to confidently move forward. Gradually, the industry returned to production with big adjustments, including virtual writers rooms and table reads and strict COVID safety protocols on set. Sudden change can loosen old foundations, creating opportunities for greater progress. Even as US technology, media, and telecommunications companies focus on responding to the global pandemic and its immediate repercussions, they hopefully will soon need to pivot toward recovering from the crisis and setting themselves up to thrive in the next era. COVID-19 will accelerate the arts’ ability to connect with audiences through technology. This series will frame a discussion and explore what’s changing, what strategic issues to consider, their impacts, key actions to take, and questions to ask. ... catering to a grateful audience of frazzled families grasping for entertainment options. Barring a successful and widely available COVID-19 vaccine, that’s how long several music business insiders say it may take for the concert and … Denmark's mass mink cull after a coronavirus outbreak at farms leaves the industry in the spotlight. By Rick Cordella, executive vice president and chief revenue officer at Peacock. Not long after, governments at every level ordered cinemas, live entertainment venues, and theme parks to close—and those allowed to remain open found themselves with few or no customers. © 2021. The way the United States has handled it is still a mess, and it will be much trickier for the film industry there to start up again. Perhaps the only thing they agree on at this stage is that it will be bad – the main source of disagreement seems to be on exactly how bad it is going to get. During tours, players from England, Pakistan, and West Indies lived in “bio-bubbles”—a secure environment. As many M&E organizations respond and recover, they are being forced to build a new plane while flying the old one. Celebrations were restrained—there were fist bumps, not high-fives. As we peer into the future, we can expect virtual events to play a key role in organizations’ overall event strategy, but we’re confident that in-person events will return with a bang. With Avril Haines and Lloyd Austin confirmed, key officials are starting to offer hints of what’s in store. Audiences around the world became increasingly accustomed to nurturing their souls by enjoying these displays in magnificent settings everywhere. The Future of the Media and Communications Industry Post COVID-19 ... people have turned in increasing numbers to the internet as a delivery medium for all of their entertainment and news needs. We asked 12 leading global thinkers for their predictions. PCMA has created a COVID-19 resources page to help event professionals find reliable information about the pandemic and to share events industry-related resources to ensure they are prepared now and in the future. Please see www.deloitte.com/about to learn more about our global network of member firms. Some M&E sectors are better placed than others to endure the changes driven by the COVID-19 crisis, but many were already struggling with segments facing structural decline. Certain services may not be available to attest clients under the rules and regulations of public accounting. There will be testing protocols to keep our audience, musicians, and staff safe. The travel industry is torn on whether or not to make the coronavirus vaccination mandatory. This box/component contains JavaScript that is needed on this page. COVID-19 outlook on the US media & entertainment industry Recover: Insights from The Center for Technology, Media, and Telecommunications There are four key strategic issues that media and entertainment organizations should consider, to recover from the crisis while laying the foundations for a thriving future. Kevin is a vice chairman and leads the US Technology, Media & Telecommunications (TMT) practice of Deloitte; as well as serves as the global Telecommunications, Media and Entertainment (TME) practice ... More, Susan is a principal with Deloitte Consulting LLP in the US Strategy service line Monitor Deloitte. This disruption will likely exacerbate those challenges. ... future looks fraught. Cookieless Future Virtual Summit. I can’t … It was 2008 and the recession was at full speed. The data, shared with Backstage, is being assessed on a rolling basis after the organization opened a snappy COVID-19 impact survey on March 13, asking the arts and culture industry … COVID-19 outlook on the US media & entertainment industry Recover: Insights from The Center for Technology, Media, and Telecommunications There are four key strategic issues that media and entertainment organizations should consider, to recover from the crisis while laying the foundations for a thriving future. For culture sparks our imagination and unleashes our creativity to build a better future. After Coronavirus, Entertainment Will Never Be the Same The pandemic is revealing pressure points across the industry as consumers are left … Tokyo has already suffered twice—who wants to be Tokyo Number Three? (“Before Coronavirus”). 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