‘Permanent Damage’: Analysts See Media Giants Taking Double-Digit Hits From Coronavirus
Published on Mar 26, 2020
Permanent damage. That’s how Wall Street sees the impact of coronavirus-related disruptions to the media and entertainment marketplace.
The scope of the economic losses is still hard to measure. Analysts are predicting a steep 19%-20% immediate drop in TV advertising revenue in the second quarter and a drop of more than 10% for the full year. The ad categories expected to lead the decline are among the most crucial for TV sales: travel, retail and automotive.
Wall Streeters see the largest media conglomerates facing on average an 11% hit to revenues and a 19% plunge in earnings before interest, taxes, depreciation and amortization over the 2020-2022 period,
Read full article at: Variety - TV News
Author: Cynthia Littleton