The news: The economic uncertainty that’s dominated news cycles over the last few months is hitting the advertising industry. Tech giants, ad agencies, and brands are all preparing for an industrywide downturn—but how severe it will be is unclear.
All eyes on consumer spending:
Tech’s ad stumbles: The economy’s turn has only made the rocky relationship between Big Tech and advertisers worse.
Agencies, brands feel the squeeze: Tech’s woes are just one small part of the ad industry’s overall downturn. Layoffs have hit several ad agencies, and major advertisers are starting to reel in spending.
It’s not all doom and gloom: An ad industry downturn isn’t just coming—it's here. But that downturn also sees growth rates returning to normal from inflated pandemic-era highs.
The takeaway: Consumer spending figures will be a crucial signal for advertisers looking to adjust their spending.
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