Can a cyclical switch catalyze a structural shift?
With consumer behaviors rapidly evolving in a COVID-19 world, TV advertising is under severe pressure from falling audiences, lack of sports and an increasing number of ad-free, direct-to-consumer options for video services. As we saw in the wake of the 2008/2009 recession, we may again be on the edge of witnessing the acceleration of structural shifts, underlying the inherent cyclicality of the advertising industry.
