How Disruption to Film and Music Production Hurt Avid Technology
Prior to the COVID-19 pandemic, people looked forward to cheering on their favorite sports teams, watching a blockbuster film, or seeing their favorite musicians perform live. Unfortunately, stay-at-home orders resulted in the mass cancellation of in-person entertainment, and that is still largely the case as of this writing.
As a technology company focused on supplying the film and music production industry, Avid Technology (NASDAQ: AVID) has faced significant headwinds from the cancellation of these live events. In early August, the company released its second-quarter earnings report, which revealed the extent of the pandemic's financial impact on the business.
Source Fool.com
