The four analysts who are the face of MoffettNathanson on Wednesday released a U.S. advertising and e-commerce investor note that took a retrospective look of how they made the case a few years ago that future advertising growth will be driven by lower-funnel ad solutions and measurement. “We also believed that simple (disconnected) top-of-funnel brand spend would be at risk from both these developments and from the increasing fragmentation of consumer spending,” they wrote.
Guess what? “The trends seem to be reverting to our original thesis,” the MoffettNathanson analysts conclude. That’s bad news for the Television business.
