Have we hit bottom yet? What new earnings reports say about COVID’s impact on digital advertising
“We experienced a significant reduction in the demand for advertising, as well as a related decline in the pricing of our ads, over the last three weeks of the first quarter of 2020.” — Facebook (Advertising revenues increased by 17% year-over-year to $17.4 billion.) “. . . but then in March we experienced a significant slowdown in ad revenues” — Google/Alphabet (Advertising revenues increased by 10% year-over-year to $33.8 billion for the quarter.) “. . . a strong...