Madison and Wall Podcast Ep. 48: M&A in Broadcasting and Agencies, Dentsu + Globant 2Q25 Results and CPG Trends
Aug 15, 2025
The hosts discuss the latest M&A news in broadcasting, focusing on Tegna and Nexstar. They dive into the challenges faced by advertising agencies, particularly the stagnant growth of Dentsu and Globant's revenue slowdown. Recent consumer sentiment declines are explored, revealing the toughest conditions for the packaged goods industry since 2017. Despite rising inflation, spending is slowing down, raising questions about the impact on advertising trends. Anecdotes from their Toronto trip add a personal touch to the conversation.
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Live From Toronto
- The podcast was recorded live from Toronto and they rode the TTC subway.
- Brian mentions visiting family and walking around the city as the non-work highlight.
Spending Holds Despite Weaker Sentiment
- US retail sales grew about 3.9% year-over-year, which Brian calls broadly normal versus pre-pandemic averages.
- Consumer sentiment worsened, but behavior and spending haven't shifted dramatically yet.
CPG Growth Has Muted, Not Collapsed
- Packaged goods had one of their softest quarters since 2017 with muted organic revenue growth.
- Advertising spend from CPGs is still growing but far more limited than recent double-digit increases.