Comment by netcan

So generally speaking, advertising is not resilient to downturn.

In 2008, there was an expectation of revenue loss. But because Google "direct advertising" directly affects sales... it was more like "sales" than traditional "marketing" in this respect.

In 2025, it may be different. We shall see.

I don't think much online ad revenue is related to physical products. The margin available for ad spend on physical goods is much slimmer. But... it's hard to predict 3rd order effects.