The coronavirus pandemic has forced us all to abandon our way of life. Today we communicate, have fun and move around the city is not like a couple of months ago.
Some countries have decided to close the borders completely. Organizations train employees to work remotely. No overseas vacations and no friendly gatherings in bars. Serious changes are taking place on all fronts of our lives.
But despite the fact that the global pandemic has led to the fall of stock markets and plunged some organizations into losses. Also, there are companies that have managed to use the circumstances to their advantage.
As the coronavirus continues its march around the world, we invite you to see what is happening in the field of technology – which companies are bathed in money, and which count losses.
1) Streaming video services
With borders now closed and millions of people forced to stay at home, the burden on entertainment services has increased tenfold. In the conditions of forced isolation, many find solace in watching favourite movies and TV series, which previously did not have time.
Streaming platforms have been eager to respond to rising demand, with Netflix and many others downplaying streaming quality for viewers from Europe, India, Australia and Latin America to avoid server overload and connectivity issues.
2) Food delivery
In the conditions of the epidemic, people did not eat less often. But food courts are closing one by one, shops impose restrictions on the time of visits. Therefore the demand for food delivery services is growing every day.
Apptopia recently reported that in February and March, British users of Just Eat and Deliveroo apps were 10% more likely to use delivery services. The situation is similar in all countries where tough measures against the epidemic have been introduced.
3) Internet service providers
The Internet is the main thing that allows us to stay in touch with the world, relatives and work.
It is only natural that users began to spend more time on social networks, watching movies online, gaming, engaging in self-education, and downloading content. Video communication has become more popular, as many now work from home.
4) Online sellers
Even if you have never considered yourself a fan of online shopping, now you have no choice – shopping malls are closed, but the need for household goods no one cancelled.
According to CNBC, Amazon is urgently recruiting 100,000 new employees to cope with the influx of online shoppers. In addition, the BBC reports that the popular British site Ocado is forced to suspend the registration of new orders, as it does not have time to process existing ones.
5) Remote work assistants and software
As remote work has become a new reality for millions of people around the world, more and more companies are looking for remote project management tools and ways to track employee performance.
Stay at home order have allowed employees in almost every industry to do things at home they never thought possible, from live TV production to trading multiple assets of portfolio hedge funds.
Companies did not expect to be in this predicament, but now they must accept it, and use different tactics and software to implement, software that tracks employee activity and then provides managers with a score on the performance scale.
Monitask, a provider of time tracking tools for remote workers, says the number of companies that have tried its technology has doubled or tripled since the Covid-19 emptied offices.
6) Conference platforms
More and more companies are being quarantined. But there are workers who may well perform their duties remotely. Video conferencing services such as Google Hangout, zoom and Skype are seeing an increase in the number of new users.
These tools enable group meetings online, chats and collaboration. According to Yahoo! Finance, the shares and sales of zoom soared by more than 50% in the first quarter of 2020.
1) Music streaming services
This will sound strange, but audio streaming platforms such as Spotify are experiencing decline inactivity. Most likely, the reason is that the masses of people stopped spending long hours in transport on the way to work, and the need for musical accompaniment has come to nought.
According to the BBC, users switched to radio to stay up-to-date with the BBC. The load on radio stations has increased by 18% since last week, and in audio streaming apps activity has fallen by 8%.
2) Car rental services
The thought of travel is more frightening than inspiring right now. Even the number of trips within cities has dropped dramatically. And where there are the strongest outbreaks of infection, the streets are completely empty.
Uber’s CEO, Dara Khosrow Shahi, told TechCrunch that the volume of rides in the cities affected by the pandemic has fallen by 60-70% in recent days.
Italy (where the largest number of deaths from a new type of coronavirus was recorded) cancelled all sporting events indefinitely. Other European states soon followed suit.
The Euro 2020 football tournament and the Summer Olympics have already been postponed until 2021. The cancellation of sporting events around the world has led to the fact that sports betting companies have been at a loss: there is nothing else to bet on.
According to BBC Online, gambling revenues in East Africa fell by as much as 99%.
Doctors will find a way to defeat the new virus, and then the pandemic will stop. But if that doesn’t happen in the coming weeks, companies will continue to suffer losses. And perhaps those who are still afloat will fall into the category of losers.