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Article | February 10, 2020
Some Chinese entertainment stocks listed in the U.S. got a boost last week after the People Bank of China (PBOC) said it would pump $173 billion into the economy. Since news of the report from Beijing hit the street, one of the biggest gainers was Chinese gaming giant NetEase Inc. (Nasdaq: NTES) NetEase, a partner of California-based Blizzard Entertainment in China, traded as low as $317.48 per American depositary share within the last couple of weeks, and soared as high as $347.95 apiece last week. NetEase rolled out its international presence in recent years in Japan and North America, lowering its China dependency.
In the wake of the coronavirus outbreak, movie theaters shuttered, Hollywood delayed some of its biggest films indefinitely, numerous productions across movies and TV halted, and virtually every major pop culture event planned for the next couple months either shut down or picked a new date. One might imagine that videogames would be the least affected branch of the entertainment world. Self-isolating in front of the TV screen does pair well with quarantines. While the industry remains one of the few not completely stunted during these uncertain times, the coronavirus has indeed affected players, developers, and studios, both for better and worse.
The online revolution has dramatically changed the way that we live our lives. Few industries have been impacted by the rise of digital technologies as much as the entertainment industry. In less than a decade, we have seen new brands like Spotify and Netflix replacing the heavyweights in the music and movie industries and it looks like this is just the start.
The UK has officially left the EU, well, kind of. Now we are in the next phase of negotiations, a transition period that is supposed to run until January 2021. This means, for the time being, not much will be changing for the UK’s entertainment industry. Filmmakers, musicians, game developers and other creative types will not discover the exact effects of Brexit on the sector until next year, but that doesn’t mean future challenges cannot already be seen in the distance. Whereas some see hurdles to navigate, other professionals in the entertainment see an opportunity, especially with the development in smart 5G technologies, virtual/augmented reality, and a booming new niche of entertainment, in eGaming.
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