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TV Cord-Cutting Hits Record as Coronavirus Shuts Businesses
Many entertainment industries have had to delay products, and with consumers tightening their belts being strapped for cash, cord-cutting has been in vogue lately. Dish, AT&T, Charter, and Comcast have all reported a decrease in subscribers. But the most significant loss has been sports. "Sports are the glue that hold the whole thing together," Craig Moffett, an analyst for telecom consulting firm MoffettNathanson, said in the above Wall Street Journal article. "Without sports, the system is unraveling."
Corporate Social Responsibility
Lyft Announced Face Masks Mandatory for Drivers and Riders
Lyft has announced it is requiring both drivers and riders to wear face masks to keep both safe. It will also make them both pledge not to use the service if they are sick. Additionally, Lyft will provide cleaning supplies and masks to drivers. Lyft has also said it will update the Lyft app with the new personal health certification, requiring both groups to promise to adhere to CDC and local health regulations before using the service. If either breaks these rules, they may have their account suspended.
PepsiCo Launches New Direct-to-Consumer Offerings to Deliver Food & Beverage Products and Meet Increased Demand Amid Pandemic
PepsiCo has announced the launch of two direct-to-consumer websites. These two websites, PantryShop.com and Snacks.com, are places customers can order a variety of PepsiCo products.
"Over the last few years, PepsiCo has been working to be a faster, stronger, better company, one that is laser focused on meeting consumer needs and winning in the marketplace. Investing in eCommerce and digital capabilities and talent has been – and will continue to be – a big part of that effort," said Gibu Thomas, Senior Vice President & Head of eCommerce, in a press release. "In these uncertain times, as more and more consumers are using eCommerce channels to purchase food and beverage products, PantryShop.com and Snacks.com offer shoppers another alternative for easy and fast access to products they love."
Amazon Reportedly Eyeing Beleaguered AMC Theatres
An article at PYMNTS.com said that sources from the Daily Mail reported Amazon is looking to buy AMC Theatres. This comes after the pandemic has closed all movie theaters. However, Chinese conglomerate Dalian Wanda, which bought AMC in 2012, said the rumors of bankruptcy are untrue after reports of that surfaced in March, Deadline Hollywood also said the deal is false. Movie theatres were reportedly doing well before the pandemic, according to Paul Dergarabedian, senior media analyst for global media measurement company Comscore on Today linked in the above PYMNTS article.
Hotels, Airlines, and Credit Cards Rewards Need to Shift to Meet Consumers Where They Are - At Home
Due to COVID-19's impact on the travel industry, hotels, airlines, and credit card member programs have started offering rewards that members can use while they are at home. That might be these programs integrating with food delivery orders, streaming services, or groceries.
"Integrating loyalty with food delivery is not only strengthening relationships with loyalty members, but also promoting local communities and small businesses who are offering takeout as a way to stay afloat," said Kenneth Purcell, Founder and CEO of iSeatz. "The brands who are focused on everyday rewards are the brands setting the gold standard for loyalty, and I expect they will come out ahead when we begin traveling again."
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