Comunicación corporativa durante la pandemia por la COVID-19. Un análisis de las portadas de la prensa económica española durante el 2020 / Corporate communication during the COVID-19 pandemic. An analysis of the front pages of the Spanish business press in 2020

Abstract

The COVID-19 pandemic that arrived in 2020 has affected the entire media landscape and also corporate communication. This research has analysed the main topics on the front pages of the three Spanish economic newspapers during 2020: Expansión, Cinco Días and El Economista. The evaluation of the main front page topics has made it possible to quantify the extent to which the pandemic has displaced the coverage devoted to corporate communications in organizations. In addition, it has been possible to observe which organizations have successfully spreading their messages and which specific issues have been most related to the pandemic. The results obtained show that the health crisis has absorbed the main topics of the front pages of the economic newspapers, leaving only half of the coverage available for other topics. Within this phenomenon of absorption, the effects on employment had the greatest prominence with a 10% presence in all the headlines analysed. The coverage on unemployment is especially important if it is related to the tourism sector, which was the industry with the highest presence on the front pages (36.6% of all topics categorized as COVID-19). The significant presence of both topics indirectly points to the important weight of tourism in the Spanish economy. However, it is not possible to state that all related topics were negative because there was also coverage focused on economic recovery (4.4%). On the other hand, in the space not occupied by the pandemic, it was observed that the coverage of the Caixabank - Bankia merger was the most important in comparison with the coverage of the rest of the organizations. This business initiative achieved 2.65% of front page topics since the pandemic began, in a scenario that was very limited. In general, mergers and acquisitions was the most important topic in 2020, as the second most covered specific topic was the failed merger between Banc Sabadell and BBVA. Telefonica was also among the companies with the most front-page coverage, although with a greater diversity of topics. The rest of the companies analysed also showed a wide variety of corporate topics as dividend management, cash flow movements and business diversification. It was also noted that the coverage achieved on the front pages maintained a business focus and wasn’t a vehicle for disseminating CSR efforts related to the pandemic. This is a very significant result because much recent literature has argued that during the pandemic, CSR has played an important role in the communication strategies of organizations. However, it seems that these actions have not been enough important to get a prominent position on the front page of Spanish business newspapers. The most important conclusion that can be drawn from this research is that corporate communication by organizations did not disappear during 2020 despite the ravages of the pandemic, but was reduced by 50%. This reduction also shows a very important effect to take into consideration. During the year 2020 organizations had to work much harder to be in the spotlight even though the economic coverage of the analysed media did not completely disappear because of the pandemic.