The news: Last week saw a streak of downer Q2 earnings reports for ad-reliant companies, and Roku is the latest to take a tumble.
What this means: Roku has made itself into a rising star of the media and ad industries thanks to investments in multiple high-demand sectors, and its troubled earnings show that the ad downturn is in full swing.
The storm arrives: Still, a fall from grace has been in Roku’s future for some time and it’s only been made worse by macroeconomic conditions.
What this means: There’s no denying that the ad downturn is in full effect as spending and impressions normalize to levels below their pandemic-fueled highs. That downturn will hurt ad-reliant companies through the rest of the year.
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