ITV

Tag: Coronavirus

  • UEFA postpones Euro Cup 2020 by 12 months amid coronavirus scare

    UEFA postpones Euro Cup 2020 by 12 months amid coronavirus scare

    MUMBAI: As speculated, the once-in-four-year soccer event, Euro Cup 2020, has been postponed by a year amid the novel coronavirus scare, confirms Union of European Football Associations (UEFA) in a press statement. The flagship national team competition was scheduled to start on 12 June.

    The UEFA’s official statement reads: “The health of all those involved in the game is the priority and to avoid placing any unnecessary pressure on national public services involved in staging matches. This move will help all domestic competitions (Champions League and Europa League), currently on hold due to the COVID-19 emergency, to be completed.”

    “All UEFA competitions and matches (including friendlies) for clubs and national teams for both men and women have been put on hold until further notice. The UEFA EURO 2020 play-off matches and international friendlies, scheduled for the end of March, will now be played in the international window at the start of June, subject to a review of the situation,” the statement further reads.

    UEFA president Aleksander Čeferin says: “Moving EURO 2020 comes at a huge cost for UEFA but we will do our best to ensure that the vital funding for grassroots, women's football and the development of the game in our 55 countries, is not affected. Purpose over profit has been our guiding principle in taking this decision for the good of European football as a whole.”

    Meanwhile, the associations have also set up a working group with the participation of leagues and club representatives to examine calendar solutions that would allow for the completion of the current season and any other consequence of the decisions made today, says the statement.

    The decision was taken by UEFA's Executive Committee followed video-conference meetings held with the presidents and general secretaries of the 55 national associations, and representatives of the European Club Association, European Leagues and FIFPro Europe, convened by UEFA President.

    “The health of fans, staff and players has to be our number one priority and, in that spirit, UEFA tabled a range of options so that competitions can finish this season safely and I am proud of the response of my colleagues across European football," said UEFA president during the announcement.

    UEFA Euro Cup 2020 was scheduled to take place in 12 cities across Europe from 12 June to 12 July 2020. The proposed new dates are from 11 June to 11 July 2021.

    UEFA also assured its existing ticket buyers and hospitality clients that if they cannot attend the tournament in 2021, the face value of their tickets and packages will be refunded in full. And, within a month refund process, will be communicated via email and on euro2020.com/tickets.

    Over a dozen of football players and a coach are infected by the novel coronavirus alone in Europe. The virus that first appeared in Wuhan, China has been spread over 100 countries. At least 7000 people infected have succumbed to the virus and over 1.8 lakh people have been affected so far.

    The postponement is a big toll on the pockets of sponsors, advertisers and football enthusiasts who were all set to experience the mesmerizing soccer event that was supposed to be held across Europe. Italy is the third most-affected country in the world with over 10,000 confirmed cases. 

  • Paytm helps India fight Corona

    Paytm helps India fight Corona

    MUMBAI: Digital payments and financial services platform Paytm has launched the ‘India Fights Corona’ campaign to help prevent and manage the spread of novel coronavirus in communities with the greatest need. In its efforts, Paytm is supported by Lifebuoy, the hygiene brand from Unilever and YouWeCan, a foundation established by Indian cricketer Yuvraj Singh. Paytm is appealing to fellow Indians to contribute generously on the Paytm App and help in the distribution of Lifebuoy hygiene products among vulnerable sections of the society.

    At the time of writing, the number of confirmed novel coronavirus cases in India has gone up to 132, as per the Ministry of Health & Family Welfare, Government of India. The World Health Organisation (WHO) has advised that people should frequently and thoroughly wash hands with soap & water. With this partnership, Paytm and Unilever want to educate everyone on the importance of developing a habit of personal hygiene while avoiding transmission of the virus from one person to another.

    Contributions can be made on the Paytm App and Paytm.com website under the 'Donations' section. The amount raised will be used to procure & distribute soaps and hand wash to people who need it the most – including people who are part of our everyday life, such as our house helps, security guards, drivers and vegetable vendors among others. In the first phase, both the companies will distribute 10 lakh soaps and hand washes at no cost in the affected areas. Paytm has also partnered YouWeCan, a foundation established by former Indian cricketer Yuvraj Singh for this noble purpose.

    Paytm VP Siddharth Pandey said, "It is an important responsibility for each one of us to teach fellow Indians about the importance of personal hygiene as part of daily routine. We should fight COVID-19 by staying healthy and restricting the spread of the virus to others. We request everyone to contribute towards this cause so that people who are part of our daily lives get access to such important products."

  • How the 2019 Coronavirus has Affected the Sports Industry

    How the 2019 Coronavirus has Affected the Sports Industry

    The coronavirus is now declared as a pandemic by the World Health Organization. Currently, there are now over 140,000 cases related to this. The virus has also caused over 5,000 fatalities. It has already spread to over 100 countries.

    It’s definitely become a problem around the world and it also affects many industries. The sports industry is greatly affected by this too. Many sports events have already been canceled. March has always been a great month for many sports fans but for now, it’s become the month of the virus.
     
    Major leagues from around the world have already made the necessary changes to help lessen the spread of the virus. From the NBA, the NHL, the IPL, to the EPL, here are the updates that sports fans should know about.

    The NBA

    The National Basketball Association abruptly announced the suspension of the rest of its season this week. This is after it was found that one of the players of Utah Jazz tested positive for the coronavirus. This happened just moments before a game began in Oklahoma City.

    At first, the NBA was trying to avoid the suspension by only advising its players to avoid handshakes, giving the fans high fives and signing autographs with borrowed pens and markers. However, the confirmed case within the league changed things completely. The indefinite suspension of the basketball games within the NBA has started on March 12.

    The Indian Premier League

    After weeks of waiting whether the IPL will be canceled or not, the Board of Cricket Control in India or BCCI has finally made an announcement about this. The IPL will still push through but instead of it starting on March 29, it will begin on April 15.

    This announcement was reported on Cricket-Betting.in tips after New Delhi and Mumbai have already banned large gatherings for any sporting events. Even the two remaining one-day cricket internationals in India has been called off. People are also saying anyway that even if the I-PL pushes through on the 29th, people will most likely stay away from the stadium.

    The Major League Baseball

    The MLB has already suspended the spring training indefinitely. The start of the season will also be delayed for at least two weeks. Instead of March 26, the opening day will happen on April 9. This is the earliest date, and so it’s possible that it will still happen later than April 9.

    According to the MLB, “MLB will announce the effects on the schedule at an appropriate time and will remain flexible as events warrant, with the hope of resuming normal operations as soon as possible.

    It also explained why these were necessary. “Nothing is more important to us than the health and safety of our players, employees, and fans. MLB will continue to undertake the precautions and best practices recommended by public health experts. We send our best wishes to all individuals and communities that have been impacted by coronavirus.”

    The English Premier League

    The EPL is also now suspended until April 4 because of the outbreak. The governing bodies for the leagues said in a statement, “Following a meeting of shareholders today, it was unanimously decided to suspend the Premier League with the intention of returning on April 4.” 

    The chief executive of the Premier League also talked about this. He said, “In this unprecedented situation, we are working closely with our clubs, Government, The FA, and EFL and can reassure everyone the health and welfare of players, staff and supporters are our priority.”

    He added, “Despite the challenges, it is the Premier League’s aim to reschedule the displaced fixtures, including those played by Academy sides, when it is safe to do so.”

    The rest of the soccer matches in England are now also canceled. It was also reported that Arsenal FC’s coach, Mikel Arteta, and Chelsea player Callum Hudson-Ohio were found positive of the 2019 coronavirus. 

    Three Leicester City players and one Everton FC member are all on self-isolation as they are reported to have symptoms of the virus.

    The Masters

    The officials of the Augusta National Golf Club have announced that The Masters will also be postponed. The PGA Tour, also announced that it was canceling several golf tournaments until the week of Masters, which is scheduled on April 9 to 12.

    The Masters organizers said in a statement, “We hope this postponement puts us in the best position to safely host the Masters tournament and our amateur events at some later date.” 

  • A blessing in disguise for broadcasters

    A blessing in disguise for broadcasters

    MUMBAI: The Coronavirus pandemic and the consequent decision to suspend shoots from 19-31 March have proved to be a blessing in disguise for broadcasters. With major shut down of malls, theatres, schools, colleges etc., people are restricting themselves within the narrow confines of their homes, spending more time watching television or exploring OTT platforms. In such a situation, advertisers looking for building brand salience would definitely like to explore the opportunity with better SOV. And broadcasters, needless to say, should have their smart programming strategies in place for the next two to three weeks.

    Omnicom Media Group India Investment & Enterprise national head Yatin Balyan says: “We need to analyse this from a shorter-time frame perspective. Logistics have got hit, travel is restricted, people are not venturing out and I believe the scenario would continue for a week/two or more based on the situation. This will eventually have an adverse impact on business. Yes, certain categories will have more impact than others. Advertisers in specific categories may consider postponing media activities. But I see business getting impacted for a couple of months and once normalcy in attained business will recover very quickly.”

    Joel Multimedia founder and CEO Varghese Thomas says, “Well when I look at the coming quarters, there will be a slow phase across the board. It’s not only for the film, serial or content industry but it’s affecting all industries.  So, there is a slow down we are seeing across.  This would have a direct impact on the performance of these production houses in terms of making new contents and their bottom lines if the date gets extended beyond 31st March. This will also have an impact on the lives of people who work on these production sets.”

    He informs, “As far as broadcasters are concerned, they are dependent on their production team to deliver fresh content every day or on a weekly basis for telecast.   This cycle may get disturbed due to the embargo and it can create a shortage of fresh content.  The programming team may have to re-work their FPCs to fix the short coming and to find solutions to feed the audience with interesting content from their libraries.  This is applicable for all the platforms whether it’s a movie theatre, tv channels or an OTT platform.  There would be a drop in viewership in case these channels are not able to telecast new episodes of their fictions or reality shows.  They could fill the slots with repeat telecasts of their old popular shows and movies.  Movies particularly have decent ratings even for repeat telecasts hence that could be an option for many tv channels if the issue persists.”

    Balyan adds: “From a broadcasters’ perspective, they will have enough content bank to be able to sustain 2-3 weeks without disrupting the on-air programming. With smart programme scheduling they can easily sustain for 3-4 weeks. Also, one perspective to be observed is that the audience will consume more content leading to better viewership. Hence advertisers looking to build brand salience would like to explore this phase with better SOV.”

    He expects advertisers in certain categories to push out or delay media activity. He says, “Also at the same time, certain categories like e-com may continue to invest as people are not looking for offline purchases. For a shorter time period channels may have to manage inventory. Also, I see some rationalisation of media mix to navigate the current challenges.”

    “Planners and agencies are looking to evaluate impact on client’s business and would provide recommendations accordingly. As I said recommendation would be very category-specific,” he opines.

    “As for advertisers and media planners, it would be advisable to evaluate if there is any drop in numbers in terms of viewership and work out their media plans accordingly,” says Thomas.

    Havas Media Group CEO India and South East Asia Anita Nayyar says: “This will certainly affect everyone, be it companies, broadcasters, advertisers, ad agencies as it almost is a lockdown situation. Many organisations have announced work-from-home as well. The situation is scary and worrisome, for, if the consumer is contained everything related to him gets contained. Many have postponed important decisions on purchases which will lead to drop in sales leading to drop in advertising, which in turn will cause drop in spends and business for ad agencies, and hence for publishers and broadcasters.”

    “Media planners need to look at more efficient and effective ways—digital and OTT being one of them. This will also lead to an increase in viewership at home given home is the new work destination,” said Nayyar.

    On 15 March, in a joint meeting of Indian Motion Pictures Producers' Association (IMPPA)- Western India Film Producers' Association (WIPFA)- Indian Film and Television Producers Council (IFTPC)-Indian Film & Television Directors' Association (IFTDA)- Federation of Western India Cine Employees (FWICE) have taken a decision to stop shooting various Indian association bodies of television, directors and producers of films, TV serials and web series from 19 March 2020 till 31 March 2020.

    Appreciating the move by the associations Thomas says, “I personally feel that it’s a great move by these associations and governing bodies to take a break from shootings where a lot of people’s lives could be at risk due to the widely spreading epidemic.  As we all know our lives are more important than anything else right?  So, it’s a fantastic initiative and a great endeavor to break-the-chain.”

    Keeping in mind the health and safety of all concerned, ZEE will stop all shoots in the timelines stipulated in the directive. “In times where social distancing is the need of the hour to curb the outbreak of COVID-19 and people are spending more time indoors, the idea is to provide audiences with the most engaging entertainment for the entire family. Talks are still on to arrive at a strategy that ensures viewers have the best content to look forward to in the said period,” informed the broadcaster.

  • Marketing world cautious over NTO 2.0, Coronavirus

    Marketing world cautious over NTO 2.0, Coronavirus

    NEW DELHI/ MUMBAI: It has been less than a year since the dust around NTO had settled, which even resulted in a dip in TV ad spends last year, and the hay has once again been unsettled with uncertainties raised by NTO 2.0. With broadcasters taking up the case legally against the new pricing regime, the marketing world has to deal with a new set of confusions.

    Elaborating on the situation, Carat SVP Vinita Pachisia notes, “Advertisers usually earmark budgets for each medium before the new financial year begins. A change in the tariff regime will again disrupt the viewership. Last year when the NTO was implemented it took almost 6-8 weeks for the data to stabilise and for the advertisers to use it for plan evaluations. The new NTO amendments could again lead to similar fluctuations as it aims to bring in more viewership options to the audiences at a lower cost and higher FTA channels access. This in turn will lead to the advertisers to rethink on the advertising options before committing any spends.”

    According to Update Geotarget MD and founder Sharad Alwe, marketers are looking for alternate and effective mediums to deliver impactful messaging as people are moving to other platforms.

    He says: “It is no secret that since NTO 1.0, the availability of broadcast channels in GEC and movies genres has dropped appreciably in households. DTH has also shown a slight downtrend and is undergoing consolidation. Viewers are either happy with the mandatory Free-To-Air channels that come with the base NCF package, or, in the case of metros and Tier 1, some are moving to OTT.”

    Havas Media CEO India and South East Asia Anita Nayyar shares similar sentiments, “The ad spends (on TV) will get affected given the changes in NTO 2.0. The total cost to choose the channels will impact TV viewing. The other platforms will tend to gain viewership as they become more viable for the viewer's pocket.”

    Godrej Consumer Products Ltd VP and head media services Subha Iyer says that there have been cuts on ad spends. “It (NTO 2.0) will definitely cause an impact when we consider the fact that consumer offering in the form of multiple bouquets, pricing, etc. will go through another round of change. In the current scenario, one has to plan for multiple events affecting all of us with their implications in the market, business as well,”

    However, Nayyar believes what is impacting media planning and ad spends more than NTO is the novel Coronavirus COVID-19. She says, “There is a lot of caution on ad spends in the market. The cumulative impact is far higher than the NTO impact. And the YES bank fiasco is just adding fuel to fire. Advertisers are waiting and only undertaking crucial spends.”

    Pachisia also adds, “Currently the market sentiments are very low due to the present situation of Coronavirus across the world. Advertisers have been affected due to the ban on imports and this in turn has affected the advertising spends. The furore on IPL is another major factor to consider here. Hence it would be very difficult to gauge right now if the advertising spends have reduced due to NTO 2.0 or all the other current factors in the market.”

    The whole industry is in a jittery considering the ongoing climate of crisis and the advertisers prefer  to tread the waters extremely carefully. Alwe and Pachisia feel that there is going to be a structural shift in the advertising market shares.

    Alwe says, “While TV has always been the traditional medium for national awareness, marketers we speak with are constantly looking for a smarter way to deliver their message. Hyperlocal geo-targeting, multilingual communication and ROI are what marketers expect from their media plan. We believe that while TV, digital and print will continue to have their presence in a media plan, marketers will look for other options to complement their traditional strategy, and there will be a structural shift in market share.”

    Pachisia concludes, “The new NTO amendments would definitely force advertisers to rethink their strategies, resulting in a realignment of media plans which would definitely impact spends on TV. Clients who have specific quarter-wise budgets may look to spend it on other mediums till such time that the data settles and is comparable. The niche genres are already facing stiff competition from the OTT platforms and factors like these, and so many amendments to the NTO, are fuelling the decision to some extent.”

  • Shooting of TV shows, digital originals & films halted from 19 March to 31 March 2020

    Shooting of TV shows, digital originals & films halted from 19 March to 31 March 2020

    MUMBAI: Various stakeholders of the Indian entertainment industry have taken measures to prevent the spread of the Covid-19 pandemic. Different bodies of television, directors and producers have decided to stop shooting of films, TV serials and web series from 19 March 2020 till 31 March 2020.

    The decision was taken in a joint meeting of Indian Motion Pictures Producers' Association (IMPPA), Western India Film Producers' Association (WIFPA), Indian Film and Television Producers Council (IFTPC), Indian Film & Television Directors' Association (IFTDA) and Federation of Western India Cine Employees (FWICE) held on 15 March 2020.

    “In view of the epidemic spread of Covid19 virus throughout the world, including India, an urgent meeting of IMPPA- WIPFA- IFTPC-IFTDA- FWICE held on 15 March 2020 unanimously decided to stop shootings of films, TV serials, web series and all other entertainment including digital formats from 19 March 2020 till 31 March 2020 as a result of health advisory, closure of all cinema halls, all sporting, educational institutes and entertainment events by the government of India which has declared a medical emergency over the Corona Virus. We appreciate and support all the steps taken by the government of India to control the virus,” said IMPPA.

    The association further says, “All units shooting till the stoppage comes into force have been strictly advised to follow all precautionary and preventive measures without fail. Decision about re-starting shootings shall be taken on 30 March 2020 after considering the prevailing situation.”

    TV broadcasters too are taking utmost measures to avoid gatherings on the sets.  

    A Zee spokesperson says, “In view of the growing concern regarding the COVID-19 outbreak, Zee TV is putting a temporary halt to on-sets for the safety of all the members of the media. Apart from on-sets, no bytes or special stories will also be allowed, unless prior committed and lined up for a particular day. This is being done as a precautionary measure and as soon as the situation improves, we shall resume onset access.”

    Abhinav Khare, CEO of Asianet News Group, said that every effort has been taken to ensure that the employees are safeguarded and their health protected. 

    "However, being media companies, we cannot adopt the work-from-home option. There are studios and equipment. Ours is a live medium. So whatever is happening and whenever is happening, reporters have to go to the spot and report," he said.

  • Cine employees federation urges using masks, sanitizers at work

    Cine employees federation urges using masks, sanitizers at work

    MUMBAI:  The federation of western India cine employees (FWICE) has issued a notice asking companies to provide employees with face masks while at work in order to reduce direct exposure to the coronavirus.

    It also urges them to provide hand sanitizers to disinfect themselves.

    The letter goes on to state: “We have also requested the producers' association to make the masks and sanitizers available to the workers on the sets/shootings/studios. In the case of non-compliance by the production houses or producers, you are requested to inform FWICE and it shall take up the matter with the respective production house or producer."

    In case an emergency, FWICE states that the shooting/setting work will have to be stopped till the emergency is lifted and things get back to normal. “We shall ensure complete safety of our workers and technicians,” it said.

    With more confirmed cases, India has also upped its safety measures by restricting travel, urging people to adopt work-from-home policies and using proper hygiene. The spread of COVID-19 has also led to the postponement of the Indian Premier League to 15 April as well as the suspension of the India-South Africa series. 

  • COVID-19: Union ministry debunks fake order giving holidays to offices

    COVID-19: Union ministry debunks fake order giving holidays to offices

    MUMBAI: The ministry of health & family welfare has debunked a fake ‘Office Memorandum’ (OM) issued in its name, giving holidays to government offices in four states in view of the Coronavirus disease.

    The fake OM says that “holiday is mandatory to all schools, colleges, educational institutes, work place having more than 10 employees” in Maharasthra, Gujarat, Uttar Pradesh, and Sikkim from 14 March to 21 March, 2020. It further says that in case of any breach of the order a fine of Rs 5000/- will be applicable per day.

    In a fact check, the ministry of health & family welfare has clarified that the ‘OM’ is fake and that it has not issued any such memorandum. The ministry has also informed that necessary action under relevant laws is being initiated.

    The fake OM, titled “Clarification regarding declaration of holidays for the States,” has been written in such a way that it accords an aura of authenticity. 

  • Coronavirus scare: Govt throws IPL ball back to organiser’s court

    Coronavirus scare: Govt throws IPL ball back to organiser’s court

    MUMBAI: The central government, in the backdrop of the coronavirus scare, has thrown the ball back to organiser’s court to decide on the future of the thirteenth edition of Indian Premier League (IPL), which is scheduled take place between 29 March and 24 April 2020.

    The eight-team franchise is termed to be the biggest sporting event in the country. And, it’s expected that at least 40,000 people will witness the game live from the stadiums during this season of IPL 2020.

    On the effect of coronavirus on IPL, Ministry of External Affairs (MEA) spokesperson had said: “It is for the organisers to decide whether to go ahead with it or not. Our advice would be to not do it at this time but if they want to go ahead, it is their decision.”

    However, the ministry clarified: “Some general observations were made on holding large sporting events in India. But no specific recommendations have been sought or made by MEA on hosting the IPL or any other sporting event in India.”

    It has been speculated that the tournament is likely to be postponed or will be hosted in a closed-door format without large gatherings. However, while confirming these speculations, the Maharashtra government has asked the IPL organisers to host close-door tournament or postpone it to a later date to curb the spread of the virus.

    In this regard, the Maharashtra health minister Rajesh Tope on Thursday said: “Cabinet discussed and we are of the view that big gatherings should be avoided. We have two options: IPL should be done without spectators or else matches should be postponed.”

    Asian News International, quoting sources, reported, “The Board of Control for Cricket in India (BCCI) has invited all Indian Premier League team franchises for IPL Governing Council meeting on Saturday”.

    Earlier on Thursday, the Madras High Court ordered to issue notices to the BCCI and the union health ministry regarding a PIL against conducting IPL matches in view of the coronavirus outbreak.

    The virus that first appeared in the Wuhan city of China has spread to over 46 countries and entered India earlier this month. Around 100 positive cases have been confirmed in India as of Thursday. The first death in the country has been reported from Karnataka as a 76-year-old male was infected by the novel virus.

  • Covid19’s impact on the advertising & marketing world

    Covid19’s impact on the advertising & marketing world

    MUMBAI: The deadly Covid19 has put every country in an alarming situation with the economic impact of the pandemic disease being immediate for certain industries.

    To understand the effect of this global health crisis on the advertising, marketing, and consumer durables indiantelevision.com spoke to industry experts. They think that this crisis will have large-scale disruption in the coming months. They are of the opinion that the ad industry will be tremendously impacted as the two most important factors for advertising, product availability and consumer sentiment, are both headed south.

    “Large-scale disruption is coming and the real impact is to be seen in the coming months. For one, on a global scale, events are being cancelled as a precautionary measure and this will impact the B2B marketing space. The impact of events and conferences is big on the marketing services industry and not so much the mainstream advertising or social media advertising industry. However, from the mainstream perspective, it's an opportunity to magnify reach and brands will jump to use this to spread public service messages veiled with their brand connections,” says Socxo CMO and program head Ajit Narayan.

    According to Narayan, there will be supply shortage as many of the Asian suppliers and more Chinese suppliers have already started pulling back on raw material and other equipment needed to complete the product. Without products to supply, what will be advertised?

    Additionally, there will be buying postponement by consumers and a recession like behaviour which nobody anticipated will come so fast.  The sentiments are already echoing in the stock markets.

    Sharing the same views Godrej Appliances business head and executive vice president and CEAMA president Kamal Nandi said: “The coronavirus attack had a negative impact on consumer durables sector due to its dependency on imports from China – be it for finished goods or components. A price increase of up to 3 per cent for consumer durables, such as televisions sets, air conditioners, refrigerators, and microwaves is anticipated from March 2020 onwards. It mainly contributed to the short supply of components and finished goods due to Coronavirus outbreak, apart from the duty increase on certain components like compressors and motors and in some cases on finished goods.”

    The ad business may take a hit in the near future as any health-related problem always lowers the market sentiment. “The Coronavirus is a big one given the huge impact it has on China and its spread across many countries. It adversely impacts business given China has millions of dollars of exports and this affects the world markets The stock market dip has a negative impact on the market and businesses. The first thing that gets affected is brand advertising, still seen as an expenditure. In a low sentiment market mostly the essentials get purchased and indulgence has to wait for better times,” echoes Havas Media chief executive officer Anita Nayyar.

    With more than 4000 deaths, borderlines being shut and life at a halt there’s still so much we don’t know. In this scenario, media plays a pivotal role in providing correct information without blowing it out of proportion. This is the hype of panic which needs to be controlled.

    Meanwhile there are necessary steps brands can take to manage Coronavirus crisis. Narayan says, “Brands will get recognition for active steps they take as precautions and not the typical advertising at this juncture. The trend of remote work which was very slow is gaining momentum now. This could trigger a pivot in the real estate industry as the towers of offices could get impacted without physical office presence needed. This is especially true for the tech industry where it's already finding fast adoption.”

    He further adds, “If the businesses find their productive rhythms through remote work, the question that might arise would be one of reducing office space. Which is already a buzzing topic in global markets. Additionally, business owners need to proactively take steps to engage with mature information and fact dissemination among employees. Take action against false information and help employees get through this tough time.”