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With uncertainty the new norm, the coronavirus rattles the media industry
from Digiday
Global advertisers are scrambling to ease the major disruptions to their media spending caused by the spread of the coronavirus.
Some of the largest advertisers, including Procter & Gamble, Unilever, Apple, Microsoft, Danone, AB InBev, Burberry and Aston Martin, made cuts to sales forecasts for the year. With the outlook for the spread of the virus changing by day, many companies are caught in a spiral of uncertainty. That tends to gum up decisions, and ad spending is an easy expenditure to put on pause. The New York Times has warned that it expects advertising revenue to decline “in the mid-teens” in the current quarter as a result of coronavirus. more
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