Madison and Wall Podcast Ep. 32: Large Marketer Ad Market Commentary, Global Agency Growth Trends for 1Q25 + Comcast and Google Results, Too
Apr 25, 2025
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Polarized Consumer Sentiment Impact
- Consumer sentiment is sharply divided along political lines, with Democrats and independents showing significant declines and Republicans increasing.
- This suggests strong support for current policies, implying ongoing volatility in policymaking that advertisers must factor in.
Agency Earnings Complexity
- Interpublic may be performing better than Omnicom when adjusting for major client losses and principal-based trading.
- This highlights the complexity of agency earnings and underlying revenue trends.
TV Advertising Faces Decline
- TV ad trends remain weak, with Comcast's NBCU ad revenue declining partly due to difficult year-over-year comparables.
- The total TV market is likely in a low single-digit decline, ahead of political market disruptions.