The news: The Iran war could cut total global ad revenues by nearly $50 billion in 2026, according to Omdia data cited by The Hollywood Reporter.

• The data firm said that global ad revenues could decrease from $124.2 billion to $74.2 billion if the war is prolonged.
• Initial estimates saw global ad revenues around $1.67 trillion by 2030, up from $1.28 trillion this year, but Omdia noted that this growth “could be severely impacted depending on the situation in the Gulf.”
• The conflict could erase a minimum of $94 billion in global ad revenues in the next two years.
• Omdia expects 11% growth this year if the Iran war does not have a sustained impact and 8% growth in 2027 and 2028.

Zooming out: Our US forecast points to a similar outcome. Under a sustained energy shock triggered by the war, ad spending would fall by billions.