At last week's IRTS Newsmakers Panel, I closed the session with a warning that we are likely to be facing a general economic downturn in the next several months, and that both media agencies and publishers should account for that possibility in their planning. The uncertainty in the advertising economy, which is evident in the slowly unfolding Upfront market, reflects the growing concern among economists that we are headed toward a recession -- and the resulting uncertainty among marketers. At the same IRTS event, analyst Michael Nathanson also warned "winter is coming" to the media industry, and he has reported that "given the current scatter environment and uncertainty in key verticals like retail and autos, buyers appear to be in no rush to lock in deals."
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