In early March, the movie studio Universal had already spent millions of dollars marketing its upcoming title Trolls World Tour in anticipation of its April 10th release. When the coronavirus pandemic shut down theaters across the nation, though, Universal made the bold decision to release the movie through on-demand platforms like Apple TV and Amazon. The gamble paid off handsomely for the movie studio: after three weeks on the market for $20 per rental, Trolls World Tour brought in more than $100 million. That’s more money than the original Trolls earned during its entire five-month run in theaters.
Although many companies remain closed during the ongoing pandemic, some businesses have been able to alter their operations to produce increasingly vital supplies. This video looks at how Dogfish Head Brewery managed to keep its employees on the payroll while also supplying local hospitals with hand sanitizer.
Over the last few weeks, shoppers at supermarkets across the country have stocked up on versatile staples like milk, bread, and eggs that are well-suited for hunkering at home. But as many meat and dairy producers ramp up production to satisfy this increasing demand, food companies that serve clients like restaurants and schools are drastically scaling back. With many eating establishments now closed or take-out only due to coronavirus containment, food suppliers have seen demand for their services plummet. As a result, a number of food companies have either significantly cut production or even thrown out excess stock in order to prevent a catastrophic market-wide price drop.
The ongoing coronavirus pandemic has caused countless restaurants and stores across the country to alter their services or close entirely, some for as long as a month so far. This stretch of downtime has been devastating for many small businesses that usually get by on week-to-week sales. At Old Town Pizza & Brewing in Portland, Oregon, owner Adam Milne had to lay off two-thirds of his staff as the brewpub transitioned into carry-out only service. In the process he racked up nearly $25,000 in credit card debt to pay for rent, utilities, and other mounting expenses. Although Milne has tried to secure a small business loan to stay afloat, he’s had no success so far.
After the federal government placed a ban on gatherings of ten or more people last Monday, restaurants and bars across the country either closed or drastically altered their operations. Although such measures are necessary to contain the spread of coronavirus, countless businesses have had to furlough workers or lay them off entirely as a result. In fact, statistics released by the Labor Department this morning found that a record 3.3 million Americans applied to receive unemployment benefits last week.
Fears over the spread of coronavirus have upended daily life for millions of Americans and countless businesses. The CDC has recommended that organizations cancel any events with 50 or more people, and restaurants around the country are either switching to…
Due to concerns about the spread of coronavirus, representatives from athletic leagues across the globe have announced that they will temporarily halt play. On Wednesday, the National Basketball Association was the first to suspend competition after a player on the…
Last week (see From the News to The Classroom blog site) we looked at how fears over coronavirus have caused major events to cancel and governments to restrict travel. Since then, organizers of South By Southwest have called off the…
On March 11th, 2020, the World Health Organization officially classified coronavirus as a pandemic, causing the Dow Jones Industrial Average to plummet by nearly 1,500 points. This rapid decline in the market has reversed more than a decade of expansion…
