The coronavirus pandemic will change shopper behavior throughout the whole business enterprise landscape, AT&T President and COO John Stankey mentioned Wednesday.
“Not just AT&T, each and every company is going to see shopper behavior variations coming out of this event,” Stankey told CNBC’s Julia Boorstin. “I do not expect we’re going to return to ‘normal.'”
“We are going to return to a diverse financial ecosystem. We are going to return to diverse business enterprise styles,” Stankey additional on “Electric power Lunch.”
Stankey’s feedback arrived soon right after AT&T introduced that Hulu co-founder Jason Kilar would get more than as CEO of WarnerMedia on May well one. Kilar will report to Stankey, who had been serving as WarnerMedia CEO.
Stankey mentioned he believes AT&T, with its various business enterprise units, is perfectly situated to navigate a publish-pandemic globe.
“Absolutely, connectivity has gotten no less essential going as a result of this dynamic,” he mentioned. “If anything at all, the networked globe, and the versatility of it, has demonstrated just how potent and powerful an motor it can be to keeping some diploma of normalcy.”
The entertainment facet of AT&T’s business enterprise also proceeds to demonstrate its relevancy as tens of tens of millions of People in america remain at home, Stankey argued.
“We are clearly viewing that individuals are resonating with an possibility to spend their time hunting for good stories and emotional awareness and distraction all through some pretty challenging situation,” he mentioned.
And with AT&T’s streaming services, HBO Max, established to start upcoming month, “I can think of no much better area for us to be than to have an possibility to provide some new library and refreshing content material out to the conclude user,” Stankey mentioned.
But AT&T will have to modify some of its business enterprise styles to the new, publish-COVID-19 landscape like so numerous other corporations will, Stankey mentioned.
“Is there going to be as substantially retail room back in services and hooked up to retail spaces, theater screens? Odds are most likely not,” he mentioned.
“And does that suggest that we’re going to be hunting to tell stories and it’s possible provide them in diverse strategies to compliment what we previously do so perfectly on the massive display and cinema? I would expect that to be the scenario, primarily if that’s what the shopper expresses is their desire and wish,” Stankey mentioned.