DIGIDAY – 20/03/2020
Tim Peterson
Media companies are hemorrhaging business as advertisers rapidly cut off spending because of the coronavirus outbreak.
The obvious categories, like travel, film and retail, are contracting so too are financial services and restaurants. Media companies are working to offset those revenue losses by turning to companies more likely to advertise right now, such as streaming services, food delivery and e-commerce companies. But, given how rapidly the global economy is cratering, the media companies are still trying to ascertain how much more revenue they may stand to lose.