"It's a really tough ad market out there, with pressure on CPMs and an uncertain performance advertising market due to questions about the consumer. Everyone is taking the chance to reset the cost bar," said Daniel Kurnos, an analyst at The Benchmark Company.
"Interest rates are up, the ad backdrop has softened and any degree of ad momentum appears to be turning more toward the large platforms, [such as] Meta, Google, Amazon, squeezing smaller players," said Doug Arthur from Huber Research Partners.
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