"This is not a great year," Wagenheim said. "It's the weirdest, most volatile time I've experienced in almost 30 years of doing this, to be honest."
According to three sources, several factors contributed to the dropoff in revenue. The ongoing malaise of the digital advertising sector has led to budget cuts, closures and layoffs across the industry, resulting in more than 20,000 layoffs this year through October, according to executive outplacement firm Challenger, Gray & Christmas.
#Bustle Digital Group #revenue decline #digital advertising #Hollywood strikes #lifestyle publishers
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