Uploaded on Nov 23, 2020
PPT on COVID-19 impact on Print Media.
COVID-19 impact on Print Media.
COVID-19 IMPACT ON PRINT MEDIA INTRODUCTION COVID-19 has caused serious disruptions across the globe, bringing both humanity and businesses to their knees. The printing & packaging domain is no different. Source: www.expresscomputer.in LOCKDOWN The subsequent lockdowns caused by the pandemic have significantly shaken the supply chain arms of this sector, making it challenging for businesses to serve customers like they previously used to. Source: www.expresscomputer.in FROM PHYSICAL TO VIRTUAL • Several businesses that earlier banked on physical meetings have quickly switched to virtual interactions via various video conferencing tools. • Players in the printing space are also innovating and adding new services to their existing portfolio and transforming their businesses into a digital-first model. Source: www.expresscomputer.in PANDEMIC AS AN OPPORTUNITY • The crisis has also created the need for enhancing the existing skillsets of employees to steer through the uncharted waters and in fact become future- ready for upcoming uncertainties. • In line with this vision, several companies are actively hosting virtual workshops and training sessions for upskilling and reskilling their existing workforce. Source: www.expresscomputer.in BALANCE BETWEEN TECHNOLOGY AND MENTAL WELLBEING • While technologies are making the traditional work models smarter and faster, it is also essential for businesses to spread awareness around mental peace and wellbeing while working in the new normal. Source: www.expresscomputer.in INDIAN NEWSPAPER INDUSTRY • The Indian newspaper industry is expected to lose 4000-5000 crore in just March and April month due to lockdown restrictions. • The annual revenue of media and entertainment sector is likely to decrease by 16% in FY2020-21. Source: indianprinterpublisher.com SCALING DOWN THE OPERATION • With a significant decline in readership and due to dwindling advertisements and a serious disruption in circulation of newspapers and magazines, different media houses are forced to take extreme steps- from slitting the number of pages and shutting down their editions to layoffs, salary cuts and leave without pay for employees. Source: nenow.in SUPPORT FROM GOVERNMENT • Considering the present crisis of the print media which we may identify as a direct negative consequence of the nationwide lockdown, the government should come forward to help and protect the print media so that the owner or authorities of these houses in near future will not adopt any measures like lay off their employees or closed down publication. Source: nenow.in CHANGING PRINT MEDIA ASPIRATIONS • The pandemic has made this transition a necessity for players to survive as well as to improve their existing offerings and serve customers better. • Hence, they must keep experimenting with newer business models and innovate their product portfolio in order to meet the changing print aspirations of modern consumers with innovative solutions. Source: www.expresscomputer.in THE FUTURE ROADMAP • The print sector that has always relied on heavy usage of papers for so many years, is now adopting smarter approaches to deliver alternative printing solutions. • Not only are companies going digital, but also focusing on minimizing the usage of paper by printing less and prevent paper wastage in the process. Source: www.expresscomputer.in
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