Silicon Valley media leaders like Google, Meta, Twitter and TikTok run primarily off selling advertising space as a significant revenue stream. According to their Q2 earnings reports, not only are these giants slowing down and losing on their advertising sales, their advertising clients are in a state of strategic restructure as effects of the recession have started to impact their annual spending budgets and return on investment negatively. Over the last two months, we have seen this trend spread from large corporations to organizations of every size — with July having the worst dip in advertising spending in two years.
