Entertainment industry post Covid-19 developing technologies and new approaches, Sunday Uko Afiko
The entertainment industry post-COVID-19 developing technologies and new approaches
Sunday Uko Afiko Esq
Law Partner and Associates, Nigeria
Purpose: The purpose of this research is to provide solutions to entertainment firms and practitioners, advising them of the existing disruptive approaches and innovations in the information technology world that will help them to manage the impact of COVID-19 on their businesses. This is done by exposing to them the existing technologies that can enhance, enable or encourage their business to be a going concern during the lockdown and post-COVID-19. In addition, it shows how these operators can adapt to the new normal that has brought disruption to the way we work, play and live.
Design/methodology/approach: This research uses secondary materials such as Internet publications, journals, reports and online articles.
Findings: In the process of this research, the author discovered that the entertainment industry is a hard-reset sector of the economy where the impact of COVID-19 will be more lasting than other sectors of the economy. These include industries that are easy reset sectors, such as the food industry. It was found that, within the Nigeria entertainment industry, most deals are executed on trust without formal documentation. It also found that the principle of force majeure will not avail breach of informal contracts that were not documented, or contracts where force majeure was included. However, the definition of what will qualify as force majeure was not adequately provided to include pandemics. It was further discovered that the impact of COVID-19 on the entertainment industry was not all negative as the streaming industry recorded major profits during this period.
Originality/value of the paper: This paper is original and most of the opinions are that of the author. However, these opinions are also shared by other authors with whom the present author agrees.
Research limitations/implications: As COVID-19 is a novel pandemic, the main limitation of this research was limited access to information in this area. Therefore, most of the writing was inspired by information gathered from daily consultation with clients and general legal advice to clients from different countries during the pandemic.
Practical Implications: The author believes that if the innovative steps discussed in this research is followed by practitioners, the entertainment industry will recover from the impact of COVID-19 lockdown faster than imagined. Most entertainment firms will still remain in business instead of going into liquidation due to the impact of COVID-19.