What headwinds? The Western world is a consumption driven society (with the US being an extreme version I would say), so I don't think advertising/PR spending will be reduced, just transferred from one focus to another. The businesses that are driven by ad revenues will pivot to wherever the ad dollars go.
jmoak3|3 years ago
I disagree, if consumer spending is reduced due to less equity valuations or less overall liquidity, then the ad spend will follow.
A recession could easily bring this about.