The novel coronavirus pandemic can wipe out more than $44 billion in global ad revenue for the tech giants Facebook and Google in 2020 as digital advertising runs dry, a new report has predicted.
In a separate blog post, LightShed analyst Rich Greenfield said that “digital platforms are feeling the pain soonest, given the relative ease of pulling ad spend versus mediums such as television (who are likely to experience far more pain in Q2 than Q1)”.
With one-fifth of the world’s population now under lockdown and industries shutting operations amid global supply chain issues, the new coronavirus pandemic is set to deliver a sharp and deep economic shock, a new report has said.
