While more fortunate than many other industries, the COVID-19 pandemic has posed some challenges for the digital media industry, and it’s sending shockwaves through the industry.
Countless digital media companies have laid off staff or slashed salaries. (Check out Forbes’ media layoffs, furloughs and pay cuts tracker for a full overview.) Digital ad spend in theMarch to June period is expected to be down 33 percent, according to an IAB survey. Bustling newsrooms have been relegated to glitchy Zoom calls.
But it’s not all negatives. Media consumption is actually spiking - no surprise, as folks are stuck at home. The 10am to 5pm window of consumption grew a whopping 39 percent between March 9 and March 23. Health, news, and children’s content categories are three big winners.