The advertising industry is managing growing fears of inflation and an economic downturn as many top retail brand advertisers are dealing with the effects. For example, Snapchat lost 25% of its shares due to a decline in ad spending. Spotify, the music streaming platform, fears a softening in ads sales. Meta recorded a 1% drop in ad revenue for the first time in history related to shrinking ad budgets. Even companies less dependent on advertising, such as Microsoft, reported a $100 million loss in revenue in its second quarter due to a reduction in ad spending.
