In April 2020, Splice ran a survey of the financial conditions at media companies around the world, filled out by 59 organisations. The main findings are as follows:
- Respondents say their businesses rely heavily on advertising and sponsored content, which have been severely affected by Covid-19.
- A weak revenue position affects their ability to address their main fixed monthly costs: full-time employees, part-time staff, office space.
- As a result, most respondents expect to have to cut jobs in the next 6 months unless they get help on their operational cashflow and payrolls.
Author: Alan Soon