Answer to Question #284092 in Management for Ekay

Question

What are the general economic conditions of the Philippines in which entertainment industry operates, particularly during the pandemic? And what are the current spending patterns of customers

Answer 1

On an economic recession notion, the entertainment industry in the Philippines has been depicted to have experienced a downturn. The pandemic has caused severe distress to the entertainment sector. Entertainment businesses have been made cease their operations. For instance, crew members have tested positive for the disease where some have even succumbed to the disease. Moreover, the filming productions have halted, since the workers in the film and audio-visual sector have found it difficult to continue providing content for their programs. Consequently, the stricter forms of community quarantine, owners of intellectual property rights (IPR) have also been extremely tampered with by government measures. Also, the National Committee on Intellectual Property Rights (NCIPR) has traced the public concerns on the increasing number of cases relating to online piracy. These states of affairs have resulted in a protracted predicament for the entertainment firms.