Coronavirus could cost U.S. advertising industry billions

The U.S. advertising industry could face steep losses as sports leagues cancel or postpone live events and consumers spend less while many stay at home during the coronavirus outbreak, experts said on Thursday. With companies widely expected to slash marketing budgets, the ad industry could see nearly $26 billion in lost revenue, or a 10.6% decline, Michael Nathanson, an analyst at MoffettNathanson, estimated in a research note on Thursday.
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