While many sectors of the economy are vulnerable to drastic boom and bust cycles, the media industry occupies an interesting place. This industry is relatively insulated from whatever's happening with the rest of the world economy, with a baseline stability of media consumption.
The form and medium may change – as shown by the COVID pandemic, where movie theaters suffered massive losses while online streaming services made huge gains – but people will always consume content. Humanity's desire for entertainment remains constant, regardless of how the economy is doing in the middle of pandemics, wars, and recessions.
