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The company will collect the funds to provide support for actors, filmmakers, and other members of the film industry who have been impacted by the crisis. It also announced its Employee Matching Gifts program launch in the U.S and the U.K. and its plan to deploy channels and social media accounts to thank first responders and encourage consumers to keep social-distancing.

After the company saw a a tumbling share price drop from more than €14 at the start of the year to less than €7 now, the former CEO will be replaced by Chief Financial Officer, Rainer Beaujean. The broadcaster announced that it would change its strategic focus and concentrate on its efforts for entertainment programming.

It will do so through the so-called "Sony Pictures 2020 Screenings", which will be an alternative to the traditional LA Screenings event and will be available to customers during the month of May.

While viewing gains have been impressive, they mask a darker reality: with the cancellation of high-profile/high-revenue events, networks are scrambling to replace high-dollar programming with mostly of reruns.

The company will present to its clients a series of contents to replace those spaces on their programming grid occupied by live shows or canceled events, based on the official recommendations to address today’s health crisis.