The global recession has led to a steady stream of layoffs at U.S. media companies;

In particular, job security in the global advertising market is declining. With high interest rates and investor skepticism, media companies are no longer able to secure short-term financing.

Media companies have been borrowing short-term working capital to make up for the decline in advertising, but this has become difficult. During the pandemic, the U.S. government provided subsidies such as emergency working capital (PPP) to help companies avoid cascading bankruptcies, but these are no longer available.

This has led to layoffs at media studios and related companies. However, while TV advertising is declining, streaming platform advertising is on the rise;

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