The pandemic is impacting advertising, from layoffs and furloughs to events cancellations to softening sales for startups.
The advertising business has been upended by the coronavirus, along with other sectors of the global economy. Advertisers have hit the breaks in spending as sales plummet, audiences for live sports have fallen, and layoffs rip through media and advertising agencies.
Live events have been particularly devastated by the coronavirus as in-person gatherings have been cancelled to prevent the spread of the pandemic,
Marketers are scrambling to make sure all their messaging is right for the moment, even pulling entire campaigns in some cases, while some are taking advantage of low ad rates to boost spending. Media buyers are trying to keep up with all the disruptions, and agencies are figuring out how to win new business through remote pitching.
Looking ahead, the coronavirus is expected to have a lasting impact on the advertising industry.