CEO Jennifer Witz pointed to positive signs that include an auto sales recovery and a podcast market adapting to anxiety among brand marketers to forecast an ad sales recovery into the close of 2023.
But U.S. ad sales are have softened for the satellite radio giant this year as more audio platforms compete for fewer ad dollars amid anxiety for consumers and brand marketers. “It’s choppy. It’s definitely choppy out there. I watch it every week. And it’s a tough environment,” Witz told the J.P. Morgan Global Technology, Media and Communications Conference during a session that was webcast on Monday.
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