As Advertisers Rethink Spending, Meta and Google Look Better Positioned

Advertisers are rethinking their spending plans, a sign that economic uncertainty sparked by President Donald Trump’s tariff program is having an impact on business investment.

But the impact won’t be felt evenly. Big tech companies that sell advertising—Google, Meta Platforms and Amazon—are likely to hold up better than other media firms, ad executives say, because ads on those services tend to drive sales. Worst affected could be TV and streaming media, including Netflix and Disney, where advertisers typically run ads aimed at building their brand. Those kinds of ads get cut first in a downturn.