Source: EMARKETER Forecast, July 2025 - July 2025
Note: digital advertising that appears on connected TV (CTV) devices; includes display ads that appear on home screens and in-stream video ads that appear on CTVs from platforms like Hulu, Roku, and YouTube; excludes network-sold inventory from traditional linear TV and addressable TV advertising
Additional Note: The “moderate tariffs” scenario assumes that US growth slows, but the downturn is limited due to selective or temporary relief brought by trade negotiations. The “heavy tariffs” scenario assumes that persistent broad US tariffs spark a global recession, leading to inflation, retaliation from other countries, and weakened business and consumer sentiment.