Due To The Coronavirus, We Are In The Midst Of A Global Food Crisis

With the deadly Coronavirus looming over everyone’s heads, many are stuck wondering where their next meal will come from. Although global hunger has been prevalent for as long as we can remember, the Coronavirus has made things increasingly worse for both Americans and those around the world because there has been both a lack of resources as well as a lack of jobs that can provide a steady income to families so that they are able to eat.

According to the New York Times,

The world has never faced a hunger emergency like this, experts say. It could double the number of people facing acute hunger to 265 million by the end of this year.

To put things into perspective, people desperate to eat in the biggest slum in Kenya’s capital set off a stampede during a recent flour and cooking oil giveaway, leaving many injured and two people dead. In India, thousands of workers are lining up twice a day to keep hunger at bay for bread and fried vegetables, and throughout Colombia, poor households hang red clothing and flags from their windows and balconies as a cry for help to show that they are hungry.

Often, the coronavirus has been considered an equalizer because it has sickened the rich and poor alike, but when it comes to food, the commonality ends because people in poverty, including large segments of poorer nations, now are growing increasingly more hungry and face the prospect of starvation. In addition to that, the sudden loss in income for countless people who were already living hand-to-mouth, the collapse in oil prices, widespread shortages of hard currency from tourism drying up, overseas workers not having earnings to send home, and ongoing problems like climate change, violence, population dislocations, and humanitarian disasters have accentuated the issue of widespread hunger around the world.

As many go hungry, there is a concern in a number of countries that food shortages will lead to social discord, and as the Coronavirus continues to loom over us, we have to be mindful of the ways in which food will no longer be readily available to a vast majority of people around the world.

Source: https://www.nytimes.com/2020/04/22/world/africa/coronavirus-hunger-crisis.html?action=click&module=Top%20Stories&pgtype=Homepage


British music producers are losing 70 percent of their income, the MPG report argues.

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According to a report by British music producer Guild called MPG, local music producers are facing serious financial difficulties after losing about 70 percent of their income due to the coronavirus epidemic.

The study predicted that British producers and record engineers lost about $4,000 on average in March, and this trend will rise to about $5,200 next month. More than 50 percent of those surveyed said their rent or home mortgage loans would be overdue after three months or less, unless the government immediately provides aid.

MPG’s analysis also shed light on the financial impact of the coronavirus pandemic on British recording studios. All of these studios have been closed to comply with the lock order.

Meanwhile, arlier this week, British Prime Minister, Boris Johnson announced that residents would face a three-week shutdown in an effort to stem the spread of the coronavirus.

British medical experts have diagnosed that there have been nearly 12,000 cases of COVID-19 patients, which has killed more than 575 people. Britain’s levels of coronavirus infections have increased dramatically since late hours, as tests are becoming more and more widespread.

Sources : https://www.digitalmusicnews.com/2020/03/26/help-musicians-is-sending-checks-to-musicians/


Spotify stock ratings have been downgraded amid the COVID-19 pandemic.

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Due to the COVID-19 pandemic, Investment Banking Company Raymond James’s anaylyst, Justin Patterson has officially downgraded the music-dreaming giant’s stock rating from ‘Strongby’ to ‘Market Performance.’

Global streaming of Spotify’s top 200 songs fell about 12 percent from pre-Covid-19 levels, he said. Streaming of the top 200 songs dropped 16 percent in the United States and 20 percent in Italy, a hot spot where two coronavirus songs are in vogue. Potcasts are also on the decline, Patterson said.

Likewise, the report stressed that some Spotify users can switch to Amazon music because they rely on smart speakers like Amazon Alexa for home music streaming.

Spotify competes with Apple (AAPL), Amazon (AMZN), and Google (GOGL) in streaming videos.

Stock prices per share of Spotify have fallen (of course, as in the entire market), but most of the value of the coronavirus transfer has remained the same. Spotify executives are scheduled to deliver their financial reports for the first quarter of 2020 on April 29. During the corresponding earnings consultation, the top vendors will answer questions from investors. Inquiries can be submitted to Slido using the #SpotifyEarnings code.

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Comcast Finds a New Way To Make Money Amidst Pandemic

Sourced from The Adelaide Review

As most states continue to enforce social distancing measures, many businesses where many people gather are shutting down. This includes movie theaters. Which is why NBCUniversal will be offering new movies on-demand for you to watch at home instead.

Jeff Shell, CEO of the company, said in a statement “we wanted to provide an option for people to view these titles in the home that is both accessible and affordable.” He says this is a better option compared to having to delay or release the films in the “challenged distribution landscape” we are currently living in.

Starting with Trolls World Tour (a Dreamworks film, which is a company under Comcast), those subscribed to Comcast Cable and Sky as well as other affiliated on-demand services will be able to rent “Now Showing in Theaters” films for $19.99 and for a period of two days. Other movies that will be released on-demand are The Invisible Man, Emma and The Hunt.

This somewhat of a power move might spark a change in the TV and film industry during the coronavirus era. Disney, one of the other media beasts in the world, also took a similar initiative by making Frozen II available for streaming on Disney + three months ahead of schedule.

As people stay quarantined in their homes, it seems like a pretty smart move for these companies to make money by focusing on their streaming services. Additionally, it wouldn’t surprise me if other media companies continued to drive a lot of its focus towards their digital and streaming services and products within the next few months. Pandemic or not, this all might translate into a significant market shift for advertisers, as they have to move in the direction the audience is consuming media inside their homes. However, this also poses a challenge for movie theater companies as well as their employees, who have not been able operate or provide their movie-going experience.

Sources: https://www.broadcastingcable.com/news/comcast-making-new-movies-available-for-in-home-viewing