Five Businesses That Benefited from COVID-19 Outbreak, and Amount They Made

• COVID-19 pandemic caused a standstill across the world, with International and local trades shutting down and losing revenues
• Five businesses thrived during the COVID-19 pandemic, which provided some of them their highest revenue in company history
• Moderna, dispatch riders and three other businesses were classified essential, resulting to them not shutting down when other firms were asked to stop operation

COVID-19 outbreak was bad news to many people, including small, medium and large corporations, as many lost revenue to the lockdown caused by the pandemic.

But while some companies where losing money, about five different types of businesses were cashing out thanks to the COVID-19, and some businesses that were previously non-consequential became essential.

These businesses are listed below

Dispatch riders

Not many considered this job important until COVID-19 pandemic. Even the government had to make delivery business essential, and their owners were cashing in.

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Demand for dispatch riders rose during the thick of the COVID-19 pandemic, as other businesses like ecommerce Jumia, Konga, Kwik Delivery, and even agro firms were using logistics to deliver products to customers.

COVID-19 vaccine makers

Drugmakers are cashing in big with the COVID-19 pandemic, but there's two companies milking straight from the COVID-19 vaccine, Pfizer and Moderna.

They both produced the two vaccines being used by countries to fight the COVID-19, and between January to March 2021, Pfizer already made $3.5 billion from vaccines sales, while Moderna generated $5.9 billion ($1.7 billion in Q1) in six months of this year, which is when companies began to buy the vaccines from them.

Pfizer expects the sales of the COVID-19 vaccines to generate $26 billion in revenue for the company by the end of this year, while Moderna stated that it projects to make $19.2 billion same period.

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Netflix

The lockdown made many Nigerians, including others across the world to turn to video-on-demand streaming platforms for entertainment to cope with the home confinement.

Netflix and its other market rivals gained from this, reason why the Reed Hastings-led firm added 15.77 million paid international subscribers in three months of Q1, higher than the 7.2 million Wall Streer estimated.

Network providers

For businesses offering data and call services in 2020, that year was probably the best in their history as lockdown made Nigerians spend more on internet usage and calls.

For instance, MTN Nigeria's revenue rose by 15.1% year-to-year after generating N1.3 trillion in FY 2020, and this was largely due to data revenue which grew 51.5% Year to Year.

Boredom was the key to triggering data consumption, as the more they stay at home during the two months-long restriction, the more calls and data Nigerians had to purchase to contact family and friends.

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Face-mask producers

Prior to COVID-19 outbreak, face mask was mostly used by medical professionals, while the metal mask was used by welders, but all that changed on 27th of February 2020 when Nigeria recorded its first case.

This led to a boom in face mask usage in Nigeria, and small businesses began to produce face mask - the product that cost N50 in January immediately started selling for N200 to N300 per one.

With one pack containing 20, a producer could make N4,000 per pack. It became a thriving business that tailors began to make fashionable face mask out of native materials as the government and businesses made it mandatory. The price of the mask is now down to N100.

COVID-19: Good News as Top Country Announces Plans to Resume Tourist Visas after more than a Year

In related COVID-19 news, Legit.ng had reported that India has announced foreigners will soon be allowed into the country for tourism.

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India had banned tourism Visa last year following the outbreak of the pandemic in their country, but in a bid to support its economy growth, tourism will kickoff.

The country is one of the most affected in the world, as the first and second wave affected India, and led to the deaths of over 440,000 persons.

Source: Legit.ng