The corona pandemic has driven some industries and companies to the verge of ruin worldwide. Devastating as the crisis was for countless industries, it also produced a few winners. Broadcasting and other classic media are clearly among them. Why? We took a look.
Social media, king of news – that‘s history. Fake news, paid content and online disputes are just a few of the reasons why the majority of users have lost trust in the platforms, especially when it comes to sensitive topics. Recent studies show that trust in social networks has steadily decreased over the past few years. Almost 70% of those surveyed now state that they do not trust them at all or tend not to trust them.
From time to time one might get the impression that digital media are gradually replacing the classic ones. Young people in particular are apparently more likely to use laptops instead of TV sets and digital subscriptions instead of printed paper. But the facts and figures show a different picture: The use of television, radio and the classic daily newspaper has continued to increase over the past few years.
The corona pandemic has clearly shown that people rely on quality media that they trust, especially in crisis situations. In the German-speaking countries alone, television usage rose suddenly by around 11% at the beginning of March 2020. At a time like this, there is simply no room for misinformation and untrustworthy reporting.
In the US, the daily television time has increased by almost a third from 275 minutes to 354 minutes. Thus, the average American currently spends around 6 hours a day in front of the television.
Increased use of TV and radio in combination with the changing needs of consumers also has a major impact on the TV advertising landscape. During the first part of the corona pandemic in America, beer was advertised over 200% more often than in the same period in 2019, online media 150% more often, and the increase in advertising measures for convenience foods was almost as high. At the same time, advertising for restaurants, vehicles and vehicle accessories as well as clothing have decreased significantly.
It is precisely these sectors that have been struggling with high losses since the beginning of the pandemic and are only recovering slowly, even after the easing of measures in Europe. In this respect, broadcast media are not only a reliable source of information for many people during the crisis, but also an important indicator for changes in the global economy - so it pays off twice to tune in.
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