As recession fears mount following Trump's sweeping new tariffs, US media and internet companies face a potential multibillion-dollar hit to ad spending that could potentially deliver the death knell to traditional television advertising.
If a recession were to materialize, MoffettNathanson estimates US ad spending would come in $45 billion below current forecasts.
That estimate would mean an 11.5 percentage point blow to top-line revenue growth across the media landscape. Digital platforms would bear the brunt, realizing $29 billion less in ad spending, with TV facing a $12 billion shortfall.
Even before the Trump administration's April 2 announcement of a 10% baseline tariff on nearly all foreign imports, MoffettNathanson said companies were...
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