The advertising industry is being ravaged by coronavirus. Google and Facebook are about to tell us exactly how much.
Google and Facebook both report their first-quarter earnings in the coming week.
The financial results will give us our best look yet at how the pandemic is affecting the advertising industry.As the financial crisis has ballooned, signs point to a massive drop in ad spending.Google and Facebook are about to give us a vital indication of the damage the pandemic is doing to the US economy.
Over the past few weeks, economies around the world have been thrown into turmoil as countries instituted lockdowns to combat the spread of the novel coronavirus. In the US, there has been an unprecedented spike of. Countless businesses have undergone layoffs, furloughed staff, or instituted paycuts.
In the coming week, Google and Facebook both report their first-quarter financial earnings, which will provide new insight into the pandemic's impact: its effect on online advertising. Advertising spend is a proxy for broad economic health: In a booming economy, companies and organisations spend more on advertising, but when things go bad, ad budgets are often the first thing to be cut. And Google and Facebook collectively dominate the US online ad market. Collectively referred to as the "duopoly," they gobbled up 60.9% of all digital ad spend in the US in 2019,
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