Deutsche Bank Friday said coronavirus jitters prompted a last-minute shift in its annual media investor conference to audio only for the event, slated to run Monday through Wednesday in Palm Beach, Florida with a host of major companies presenting.
“After careful consideration and an abundance of caution for the health and safety of our employees and clients, we are converting the Deutsche Bank 28th annual Media, Internet and Telecom conference to an audio-only conference due to the evolving conditions surrounding COVID-19,” a Deutsche Bank spokesperson said.
Investor conference season is in full swing but, like many other public gathering across the industry, it’s feeling the crunch of COVID-19. A Morgan Stanley conference went on as planned this week but with some high profile cancellations including Fox and Disney and speakers thanking the audience profusely for showing up.
These meetings are a great way for investors and fund managers to meet executives face to face and, beyond their words, get a sense of the mood and direction of a company. Listening to presentations over several days can provide valuable insight into trends, pressing challenges and opportunities of a sector, especially important in the fast-changing media space.
Usually, companies offer open webcasts of their executive presentations on their own sites but it’s not clear how this one will work. Deutsche Bank said the audio will be for clients only.
“At this time, we will not webcast but I am happy to share the reports from our equity analysts once they are issued,” the bank said.