14 May NOW FOR SOME GOOD NEWS: CCA THINKS AUSTRALIA WILL EMERGE FASTER FROM THE PANDEMIC
Welcome to today’s business and media intelligence, with insights collected over the past 24-hours.
THE END OF CORPORATE FOMO?
- As restrictions begin to ease, Australian governments have a clear message: do not turn up to work with even a sniffle or cough. Will this mark the end of ‘presenteeism’ – the corporate version of FOMO – where employees don’t want to miss a day at work for fear of being judged? Read more here.
NOW FOR SOME GOOD NEWS: CCA THINKS AUSTRALIA WILL EMERGE FASTER FROM THE PANDEMIC
- Coca-Cola Amatil chief executive Alison Watkins says the Australian consumer is better placed to emerge from the coronavirus crisis with confidence to spend because of the success by the Federal and State governments in containing the pandemic. Addressing the trans-Tasman Business Circle on Wednesday, Ms Watkins also pointed to consumer trends after the crisis, including a greater focus on e-commerce and affordability. The Australian. (Subscriber access)
IS IT TIME TO PAY UP? NINE WANTS $600 MILLION FROM YOU, MR GOOGLE
- Nine chairman Peter Costello says a mandatory code of conduct should force the technology giants, such as Google and FaceBook, to pay for news. The former Liberal Treasurer says about $600 million a year (or 10 per cent of the revenue the tech giants earn in Australia) should go into a fund for Australian media companies. Read more in The AFR here. (Subscriber access)
ADVERTISING REVENUE DRIES UP IN THE US; MORE BAD NEWS FOR AUSTRALIAN MEDIA
- Ad buyers estimate that roughly $US1 billion-$US1.5 billion in commitments for third-quarter ad spending could be cancelled, due to COVID 19. This is bad news for commercial media – from newspapers to TV networks. It seems big advertisers – from General Motors to PepsiCo – are seeking to walk back spending commitments they have made to broadcast and cable networks. Read more in The WSJ here. (Subscriber access)
- In more bad news for Australian media, BuzzFeed announced it will end its news operations in the UK and Australia, effectively marking the end of the digital upstart’s global ambition to shake up traditional news media. The website said it was giving up on local news and politics coverage, and instead will focus on news that ‘hits big’ in US after advertising revenue dried up. Read more in The Guardian.
THE LAST OF FACE-TO-FACE TRADING GOES DIGITAL
- Lloyd’s of London is one of the last face-to-face financial centres, clinging onto a physical trading room while others have gone digital. But the coronavirus crisis has finally forced them to adopt an electronic trading system. Matthew Wilson, chief executive of insurer Brit, sayx it would be a huge missed opportunity if it did return to normal. “Lloyd’s has a tradition of 300 years of face-to-face trading, which has served it well, but it is in danger of becoming a museum piece,” he said. Read more in The Financial Times here. (Subscriber access)
STILL CALLING AUSTRALIA HOME
- Most of its planes might be grounded, but Qantas’ COVID-19 edition of ‘I still call Australia home’ campaign brings a tear to the eye. See how Qantas is capturing the imagination of its customers during the pandemic in its new video here.
Our daily briefing is not meant to be a summary of media coverage but rather, insights that may be helpful in understanding how organisations are communicating with stakeholders in a time of crisis – and what comes next. Sign up via email.