PM360 – Preparing for What’s Next: How COVID-19 is Changing Our Industry and Our World
May 14, 2020
The only real thing we’ve been able to count on since the beginning of the COVID-19 pandemic is change. The pandemic has impacted every aspect of our lives, and so people are looking—with hope, and uncertainty—at what may lie ahead. By most objective measures, in the United States, we are either nearing the top of the first proverbial wave of cases or have recently passed it. Health experts, economists, and politicians are now starting to consider how to re-open the economy in the absence of proven highly effective treatments nor a vaccine. Early clinical trials of treatments show promise, but it will take months before we have definitive evidence. Development of a vaccine will take at least a year.
Whatever new guidelines are ultimately developed at the state or federal level, they will undoubtedly aim to open parts of the economy while maintaining the current health best practices of social distancing, consistent hand washing, and wearing protective gear in public places. It’s hard to imagine a boomerang of activity in industries and institutions that rely on or require crowds, such as sporting events, schools, movie theaters, concerts, restaurants, and others. Governments can allow those businesses to re-open but can’t force people to go to them. Until people can feel safe in large crowds, our social and business environment will likely continue to look very much the way they do today.
One of the most interesting developments we’ve seen as a new normal set in is growth in all things digital. We’ve probably jumped five to 10 years into the future in many areas due to the social constraints of distancing. We’ve become more physically atomized and emotionally cohesive at the same time. This is a paradigm shift and many things will look very different during and after this pandemic. I’ve looked into my crystal ball and here are some observations and predictions of what those things will be—related to media, health, and beyond.
Click here to read the full article by our Senior Vice President, Product and Innovation, Jose Ferreira.