It wasn’t too long ago that developing and launching a truly breakthrough product was largely dependent on a company’s size and brand stature. Yes, there were exceptions, but they were just that—exceptions. Today, amid widespread information access and connectivity, the scales have tipped, and while massive scale and big budgets remain valuable in launching breakthrough innovations, they’re not necessarily essential.

Despite the economic downturn wrought by COVID-19, over 75% of local US businesses have remained open during the pandemic -- with many  looking to adopt effective, fresh marketing and advertising strategies, according to a recent study by Viamedia.

According to a 700 media and advertising professionals conducted just prior to Covid-19 and Black Lives Matter activism, 43% of Black, Hispanic/Latino and Asian professionals in the advertising and media business agreed that the industry is doing its best to advance diversity, equality and inclusion. By comparison, 60% of Caucasian professionals in our community agreed. Only 12% of white people in the ad/media business believed current efforts are insufficient vs. 35% of Blacks, 31% of Hispanics/Latinos and 21% of Asians. The remaining group offered no opinion.

Media owners’ advertising revenues will decrease by $42 billion in 2020, from $582 billion to $540 billion, as advertising spending shrinks due to the severe economic recession triggered by the COVID-19 pandemic, as GDP is expected to contract between -5% and -12% across the world’s largest markets. Global advertising revenues will decrease by an estimated -7%, as the heavy, double-digit decline of linear ad sales (linear TV, print, linear radio, OOH, cinema), -16% to $238 billion, will be mitigated by the stability of digital formats: +1% to $302 billion.

Marketers, looking for increased productivity and transparency in their media investments, are calling for sweeping changes and improvements in the media ecosystem. This includes transformative changes to the upfront marketplace.

With Women’s History Month upon us, there’s no better time to recognize that efforts to increase gender diversity in the boardroom are finally beginning to yield results.

On April 16, the National Association of Hispanic Journalist (NAHJ) board announced, in a press release posted on NAHJ.org, that it had voted to cancel national board elections and extend, for another year, the terms of board members, including those of the president and the rest of the executive board. This move encompassed both elected and appointed board members.

As the coronavirus continues to spread across the U.S., brands are looking for ways to stay connected to consumers and to understand the impact of the virus on their lives in real-time, especially among multicultural groups who have been hit disproportionately.

BOTTOM LINE: While its likely not totally shocking at this point, we think that April increasingly feels like the bottom, and the linearity of the quarter appears to be much better in May, with expectations for continued rebound into June. Our and the Street’s 2Q20 estimates are largely in the range of where the companies indicated they were pacing for the quarter in April/early May, and our expectations are that there is likely upside to revenue numbers of at least 4-7%. We will be waiting to see how June shapes up, as well as color around 2H outlook before refining our estimates, but numbers are likely going higher.

What brands are doing to attract the talent they need to help them lead in the new economy

Economic anxiety remains high, but we have found a new normal in lockdown even though we miss our lives. We are though already turning towards the next steps as constraints on our lives begin to ease.

Join us for a conversation with David Chitel, Founder & CEO, NGL Collective, to discuss their action-oriented initiative #UnidosTogether, as well as updates to NGL Collective.

Entravision Communications Corporation announced the appointment of Chris Munoz to the executive leadership team as the Executive Vice President of National Sales.

Two-thirds of advertising sellers—including publishers, platforms and programmatic media sellers—have had advertising rates decline since the Covidlockdown began.

As brands and businesses prepare for plans of reopening, it is essential to understand how consumer behaviors and expectations have been changed by the crisis.

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