The article discusses the looming downturn in the advertising industry and highlights the potential dangers of industry self-talk exacerbating the situation. While economic indicators are causing anxiety, the author argues that the industry's tendency to panic could lead to unnecessary budget cuts and retreat. Past experiences, like those in 2022, show how fear can drive actions more than actual profitability. The article asserts that as of now, corporate profitability remains stable despite external pressures, suggesting the downturn may not be as severe if handled rationally.
"The danger isn't the downturn itself - it's that the ad industry is about to catastrophize itself into a deeper hole than necessary."
"It happened in 2022. The industry flinched early and often. As industry analyst Brian Wieser pointed out back then, the fear hit harder than the fundamentals."
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