Madison and Wall Podcast (Madison and Wall)

Each week on the M&W Podcast, we review Madison & Wall’s research and analysis to help listeners understand how the advertising business works. They explore how the economy and major trends impact the ad industry, delve into relevant accounting and finance concepts, and touch on advertising history.

In this episode, Brian looks at the read-throughs for the United States of the Canadian government forcing TikTok to cease local operations, finds how AI is getting used to inform fast food restaurant marketing and talks about new data points related to television advertising, ad tech, outdoor advertising and more.

Listen to this episode and future M&W Podcast episodes at https://feeds.captivate.fm/madison-and-wall/.

Each week on the M&W Podcast, we discuss Madison & Wall’s latest research and explore how and why money flows through the advertising economy.

This week that new work includes analyses of earnings results from Globant and of important trends in marketing and media spending from many of the world's largest packaged goods companies, largely tied to presentations delivered at the past week's CAGNY conference.

In addition, our Advertising 101 series continues with a focus on the basics of the advertising agency industry with Macquarie Securities' Tim Nollen. If you find this interview interesting, you may wish to listen to our next Agency Business (available for streaming or download on Monday Feb. 24), where you will also be able to hear this interview as well as our review with Tim of the agency news-of-the-week.

This follows on part 1 with Gerry D'Angelo where we discussed how marketers organize themselves, part 2 with Francisco Escobar on the role of marketing procurement, part 3 with Deborah Wahl on the resource allocation choices marketers makep, part 4 with Gordon Ho on the different ways small, medium-sized and large businesses engage in marketing, part 5 with Ari Osur on B2B marketing and part 6 on performance marketing with Andy Rosenberg. (you can listen to all of these interviews on episodes 17-22 of The M&W podcast).

Each week on the M&W Podcast, Olivia Morley and Brian Wieser discuss Madison & Wall’s research and analysis to help listeners understand how the advertising business works. They explore how the economy and major trends impact the ad industry, delve into relevant accounting and finance concepts, and touch on advertising history.

In this episode, Brian and Olivia break down the implications of the current political landscape on the advertising industry and explore the consequences for media owners and advertisers under potential new administrations. They also dig into the surprising outcomes of measuring attention metrics and why the definition of "attention” might need to evolve.

Later, the hosts consider how AI-driven tools and their associated capital expenditures could alter the financial planning of tech giants. Plus, Olivia shares a history lesson on Havas, charting its transformation from 19th-century news bulletins to becoming one of today’s major global advertising players.

And finally, they ponder the future of consumer interactions with technology and ask: Are we heading into an era where espresso machine bots choose products on our behalf?

Listen to this episode and future M&W Podcast episodes at https://feeds.captivate.fm/madison-and-wall/.

Access more M&W research summaries and analysis by subscribing to our complimentary Saturday newsletter at https://madisonandwall.substack.com/.

To discuss advertising opportunities or provide feedback, reach out to Brian at brian@madisonandwall.com, or connect with him on LinkedIn.

Each week on the M&W Podcast, we review Madison & Wall’s research and analysis to help listeners understand how the advertising business works. We explore how the economy and major trends impact the ad industry, delve into relevant accounting and finance concepts, and touch on advertising history.

This week we review news from the Federal Reserve (and its implications on advertising) as well as our recent work on content spending, packaged goods trends and more!

On this week’s M&W Podcast we summarize our analysis of high ad-intensity categories of imports, the specific impact of announced tariff policies on Amazon, Meta and the broader industry, review Stagwell’s investor day and look at new data we published around independent agencies.

Plus, on this week's podcast, our Advertising 101 series continues with a focus on local TV and radio buying with Janice Finkel-Greene, a former IPG executive and consultant to measurement companies.

This follows the past six weeks where we started diving into the role of agencies on Ep. 23 with Macquarie Securities' Tim Nollen, Ep. 24 with Heartmore's Carl Hartman where we focused on the function of the global account lead, on Ep. 25 on media agencies with Boston University professor Janna Greenberg, on Ep. 26 on media planning with Scott Wensman and Ep. 27 on media research with Stacey Schulman and Ep. 28 on national + CTV advertising with Todd Gordon.   Our first six parts focused on marketers and how they allocate resources (you can listen to these interviews on episodes 17-22 of The M&W podcast).

Listen to this episode and future M&W Podcast episodes at https://feeds.captivate.fm/madison-and-wall/.

Access more M&W research summaries and analysis by subscribing to our complimentary Saturday newsletter at https://madisonandwall.substack.com/.

To learn about becoming a paid subscriber or advertising with us, reach out to Olivia and Brian at olivia@madisonandwall.com, and brian@madisonandwall.com.

Follow Madison and Wall on LinkedIn.

Each week on the M&W Podcast, we discuss Madison & Wall’s latest research and explore how and why money flows through the advertising economy.

This week that new work includes analyses of the impact of tariffs (whether fully enacted or not) on auto industry advertising, the new IPO filing from MNTN and what is says about the opportunity (or lack thereof) for small and medium sized businesses on connected TV a summary of our take on growth trends from the world's largest sellers of advertising and more!

In addition, our Advertising 101 series continues with a focus on the media agency business with Boston University professor Janna Greenberg.

This follows the past two weeks where we started diving into the role of agencies, first on Ep. 23 with Macquarie Securities' Tim Nollen and second on Ep. 24 with Heartmore's Carl Hartman where we focused on the function of the global account lead. Our first six parts focused on marketers and how they allocate resources (you can listen to these interviews on episodes 17-22 of The M&W podcast).

Each week on the M&W Podcast, we review Madison & Wall’s research and analysis to help listeners understand how the advertising business works. We explore how the economy and major trends impact the ad industry, delve into relevant accounting and finance concepts, and touch on advertising history.

In this episode, Brian looks at a flurry of news relevant to the future of streaming video services and the relationships media conglomerates have with distributors, explores why Warner Bros. Discovery's break-up into two divisions is a bad idea and reviews the news of Omnicom buying Interpublic.

Each week on the M&W Podcast, Olivia Morley and Brian Wieser discuss Madison & Wall's weekly research and analyses to help listeners understand how the advertising business really works.

We talk through how the economy and its major indicators could impact the advertising industry; dig into accounting and finance concepts relevant to the ad industry; plus, overview ad history facts.

In episode 4, Brian sizes the global marketing industry, while later, Olivia and Brian look into how companies define "marketing;" Brian analyzes Nike's business relative to category peers and determines that performance marketing isn't going anywhere, and more.

Listen to this episode and future M&W Podcast episodes at https://feeds.captivate.fm/madison-and-wall/.

Access more M&W research summaries and analysis by subscribing to our complimentary Saturday newsletter at https://madisonandwall.substack.com/.

To learn about becoming a paid subscriber or advertising with us, reach out to Olivia and Brian at olivia@madisonandwall.com, and brian@madisonandwall.com.

To share feedback or questions, learn about becoming a paid subscriber, or discuss advertising opportunities, reach out to Olivia and Brian directly at olivia@madisonandwall.com, and brian@madisonandwall.com or connect with them on LinkedIn at https://www.linkedin.com/in/oliviamorley/ and https://www.linkedin.com/in/brianwieser/.

Each week on the M&W Podcast, we review Madison & Wall’s research and analysis to help listeners understand how the advertising business works. We explore how the economy and major trends impact the ad industry, delve into relevant accounting and finance concepts, and touch on advertising history.

In this episode, Brian looks at new economics data (turns out condiments are getting more expensive), Meta's big news week, our new analysis on consumer spending on video services and the history of pharmaceutical advertising in the United States, among other topics.

Listen to this episode and future M&W Podcast episodes at https://feeds.captivate.fm/madison-and-wall/.

Each week on the M&W Podcast, we discuss Madison & Wall’s latest research and explore how and why money flows through the advertising economy.

On this week's podcast we look at the latest data on consumer sentiment, 2024's muted political advertising spending, our latest analysis on video services spending and cord cutting as well as Kantar's pending sale of its businesses.

In addition, our Advertising 101 series continues with a focus on the media planning with Scott Wensman, most recently an executive with WPP's Mindshare and before that at Publicis' Team One, Interpublic and Omnicom, too.

This follows the past three weeks where we started diving into the role of agencies, first on Ep. 23 with Macquarie Securities' Tim Nollen, second on Ep. 24 with Heartmore's Carl Hartman where we focused on the function of the global account lead and third on Ep. 25 on media agencies with Boston University professor Janna Greenberg. Our first six parts focused on marketers and how they allocate resources (you can listen to these interviews on episodes 17-22 of The M&W podcast).

Each week on the M&W Podcast, we discuss Madison & Wall’s latest research and explore how and why money flows through the advertising economy.

On this week's podcast we review our newest advertising forecast, our recent research on the recent history of automotive advertising and provide read-throughs for the agency and advertising industries from Accenture's latest results.

In addition, our Advertising 101 series continues with a focus on the media research with Stacey Lynn Schulman most recently an executive with Nexstar, but whose career also included an extended period at Interpublic's Initiative overseeing global research.

This follows the past four weeks where we started diving into the role of agencies on Ep. 23 with Macquarie Securities' Tim Nollen, Ep. 24 with Heartmore's Carl Hartman where we focused on the function of the global account lead, on Ep. 25 on media agencies with Boston University professor Janna Greenberg and on Ep. 26 on media planning with Scott Wensman. Our first six parts focused on marketers and how they allocate resources (you can listen to these interviews on episodes 17-22 of The M&W podcast).

Each week on the M&W Podcast, we discuss Madison & Wall’s latest research and explore how and why money flows through the advertising economy.

Each week we review new economic data and our work from the past week. This week that new work includes a review of The FTC's action on PepsiCo (and implications for retail media), growth expectations for Omnicom-Interpublic, a variety of happenings at WPP, our analysis of and estimates for Netflix's advertising business, and our aggregation of the most relevant commentary from large marketers who reported earnings results in the past week (including P&G, American Express, Capital One, JP Morgan among others).

In addition, our Advertising 101 series continues with Deborah Wahl, best known from her time as global CMO of General Motors and at McDonalds USA. She's currently a board member of MediaOcean, ActionIQ and many other companies. In this episode we discuss how large marketers allocate their resources.

This follows on part 1 with Gerry D'Angelo where we discussed how marketers organize themselves and part 2 with Francisco Escobar on the role of marketing procurement (which you can listen to on episodes 17 and 18 of The M&W podcast).

Each week on the M&W Podcast, Olivia Morley and Brian Wieser discuss Madison & Wall's latest research and insights to uncover how the advertising industry really works. From economic indicators to ad history, we explore what’s moving the needle for agencies, marketers, and media companies.

In episode 8, Olivia and Brian dive into the latest agency holding company results and explore the consequences that would follow from recent academic research suggesting that some of the long-held principles of Byron Sharp's How Brands Grow - and the importance of reach - might be incorrect, as outlined in a recent podcast hosted by Australian trade publication Mi3 here.

Listen to this episode and future M&W Podcast episodes at https://feeds.captivate.fm/madison-and-wall/.

For more M&W insights, subscribe to our Saturday newsletter at madisonandwall.substack.com. Interested in advertising with us? Reach out to Olivia and Brian at olivia@madisonandwall.com and brian@madisonandwall.com.

Each week on the M&W Podcast, we discuss Madison & Wall’s latest research and explore how and why money flows through the advertising economy.

Each week we review new economic data and our work from the past week. This week that new work includes new analyses of earnings results from Meta and Comcast as well as the latest comments from marketer CEOs and CFOs.

In addition, our Advertising 101 series continues with Gordon Ho, currently a Professor at USC and formerly a senior marketer at Disney, Princess Cruises and multiple start-ups

This follows on part 1 with Gerry D'Angelo where we discussed how marketers organize themselves, part 2 with Francisco Escobar on the role of marketing procurement and part 3 with Deborah Wahl on the resource allocation choices marketers make (which you can listen to on episodes 17, 18 and 19 of The M&W podcast).

Each week on the M&W Podcast, we discuss Madison & Wall’s latest research and explore how and why money flows through the advertising economy.

This week that new work includes new analyses of earnings results from ad-supported companies including The Trade Desk, Roku, Interpublic, Dentsu and marketers including Coca-Cola, Ford and many more.

In addition, our Advertising 101 series continues with a focus on performance marketing with Andy Rosenberg.

This follows on part 1 with Gerry D'Angelo where we discussed how marketers organize themselves, part 2 with Francisco Escobar on the role of marketing procurement, part 3 with Deborah Wahl on the resource allocation choices marketers makep, part 4 with Gordon Ho on the different ways small, medium-sized and large businesses engage in marketing and part 5 with Ari Osur on B2B marketing (which you can listen to on episodes 17-21 of The M&W podcast).

Each week on the M&W Podcast, we discuss new risks and opportunities for global agencies that follow from US government policies – especially in a world where tariffs on services may become more commonplace – as well as the latest results from S4, M&C Saatchi and more.  

Plus, on this week's podcast, our Advertising 101 series continues with a focus on national TV and connected TV buying with Todd Gordon, a former executive at WPP, Interpublic, TubeMogul, Adobe and Tatari. 

This follows the past five weeks where we started diving into the role of agencies on Ep. 23 with Macquarie Securities' Tim Nollen, Ep. 24 with Heartmore's Carl Hartman where we focused on the function of the global account lead, on Ep. 25 on media agencies with Boston University professor Janna Greenberg, on Ep. 26 on media planning with Scott Wensman and Ep. 27 on media research with Stacey Schulman. Our first six parts focused on marketers and how they allocate resources (you can listen to these interviews on episodes 17-22 of The M&W podcast).

On this week’s M&W Podcast we summarize our analysis of near-term scenarios for the economy and advertising industry, explore what an EU tax on digital advertising would do, what a tarrif on pharmaceutical advertising would do, Havas' latest results and much more.

Plus, on this week's podcast, our Advertising 101 series continues with a focus on outdoor and out-of-home advertising with Keith "Kappy" Kaplan, an advisor, investor and industry executive - including as global CEO of WPP's out-of-home buying division, Kinetic.

This follows the past seven weeks where we explored the role of agencies (Ep. 23 with Macquarie Securities' Tim Nollen, the function of global account leads (Ep. 24 with Heartmore's Carl Hartman), media agencies (Ep. 25 with Boston University professor Janna Greenberg), media planning (Ep. 26 with Scott Wensman), media research (Ep. 27 with Stacey Schulman), national TV and CTV buying (Ep. 28 with Todd Gordon) and local TV (Ep. 29 with Janice Finkel-Greene).  Our first six parts focused on marketers and how they allocate resources (you can listen to these interviews on episodes 17-22 of The M&W podcast).

On this week’s M&W Podcast we summarize our take on what happens if Meta and Alphabet are forced by courts to sell parts of their businesses, the latest earnings results from Publicis and Omnicom and hear from Greg McLelland, Madison and Wall's new General Manager of Canada / CRO Advisory Practice Lead.

Plus, on this week's podcast, our Advertising 101 series continues with a focus on digital advertising With Martin Galvin, Co-Founder of Calm Media Investments (a provider of forward media investment programs). Prior to that he ran the Agency commercial program at Pinterest, having previously led Digital investment for GroupM in the UK.

This follows the past eight weeks where we explored the role of agencies (Ep. 23 with Macquarie Securities' Tim Nollen, the function of global account leads (Ep. 24 with Heartmore's Carl Hartman), media agencies (Ep. 25 with Boston University professor Janna Greenberg), media planning (Ep. 26 with Scott Wensman), media research (Ep. 27 with Stacey Schulman), national TV and CTV buying (Ep. 28 with Todd Gordon), local TV (Ep. 29 with Janice Finkel-Greene) and outdoor advertising (Ep. 29 with Keither "Kappy" Kaplan).  Our first six parts focused on marketers and how they allocate resources (you can listen to these interviews on episodes 17-22 of The M&W podcast).

Introducing the M&W Podcast from Madison and Wall, hosted by Olivia Morley and Brian Wieser.

In episode one, Olivia summarizes investor conference commentary from General Mills, Mondelez, Kraft Heinz and more.

Brian recaps new M&W ad spend forecast results and explains why ad spend growth is still, somehow, surpassing expectations.

The Amazon account is worth billions, but measuring how much the account loss will impact incumbent agency IPG poses a challenge. Brian tells listeners why.

Listen to episode one and future M&W Podcast episodes at https://feeds.captivate.fm/madison-and-wall/.

Access more M&W research summaries and analysis by subscribing to our complimentary Saturday newsletter at https://madisonandwall.substack.com/.

To learn about becoming a paid subscriber or advertising with us, reach out to Olivia and Brian at olivia@madisonandwall.com, and brian@madisonandwall.com.

Follow Madison and Wall on LinkedIn.

Each week on the M&W Podcast, we discuss Madison & Wall’s latest research and explore how and why money flows through the advertising economy.

This week that new work includes analyses of earnings results from Paramount, WPP, Stagwell and the broader agency industry (including our calculation of the industry's record levels of profitability!)

In addition, our Advertising 101 series continues with a focus on the function of the global account leader featuring former global client leader at WPP and IPG Carl Hartman.

This follows on our first six parts focused marketers and how they allocate resources (you can listen to all of these interviews on episodes 17-22 of The M&W podcast) and part seven, an interview with Macquarie Securities' Tim Nollen, with whom we explore the basics of the advertising agency indsutry.

Each week on the M&W podcast provides a review of economic data relevant to the advertising industry, Madison & Wall’s work-of-the-week, the work-we-didn’t get to, advertising accounting & finance and history.

On our new episode, Olivia and Brian look at parallels between Tik Tok and Google’s current court cases, explore the costs of agencies returning-to-the-office, analyze streaming video data, assess the consequences of advertising bans and much more!

Each week on the M&W Podcast, Olivia Morley and Brian Wieser discuss Madison & Wall’s weekly research and analyses to help listeners understand how the advertising business works. We explore how the economy and its major indicators could impact the advertising industry; dig into relevant accounting and finance concepts; and overview ad history.

In episode 7, Brian guides listeners through current trends on retail sales and wage growth, then does a deep dive on Adobe's new AI-based video production and integrated martech + ad tech products. Plus, SMBs vs. large advertisers, agency holdco trends from Omnicom and Publicis, Netflix results reviewed and new marketer commentary.

Access more M&W research summaries and analysis by subscribing to our complimentary Saturday newsletter at madisonandwall.substack.com.

To share feedback or questions, learn about becoming a paid subscriber, or discuss advertising opportunities, reach out to Brian at brian@madisonandwall.com, or Olivia at olivia@madisonandwall.com. Or connect with them on LinkedIn at www.linkedin.com/in/oliviamorley/ and www.linkedin.com/in/brianwieser/.

Thank you for listening!

Each week on the M&W Podcast, Olivia Morley and Brian Wieser discuss Madison & Wall's weekly research and analyses to help listeners understand how the advertising business really works.

We talk through how the economy and its major indicators could impact the advertising industry; dig into accounting and finance concepts relevant to the ad industry; plus, overview ad history facts.

In episode 5, Brian and Olivia talk listeners through Madison & Wall's list of the top 50 advertising sellers. Then, they analyze how the industry changed when digital newcomers such as Indeed or Zillow absorbed the classifieds market and what that means for today's news industry. Later, Olivia describes Madison & Wall's latest data on employment growth across independent agencies.

Did you know: If classifieds were considered advertising, job-search company Indeed would appear just below TikTok on our list of top 50 ad sellers.

Listen to this episode and future M&W Podcast episodes at https://feeds.captivate.fm/madison-and-wall/.

Access more M&W research summaries and analysis by subscribing to our complimentary Saturday newsletter at https://madisonandwall.substack.com/.

To learn about becoming a paid subscriber or advertising with us, reach out to Olivia and Brian at olivia@madisonandwall.com, and brian@madisonandwall.com.

To share feedback or questions, learn about becoming a paid subscriber, or discuss advertising opportunities, reach out to Olivia and Brian directly at olivia@madisonandwall.com, and brian@madisonandwall.com or connect with them on LinkedIn at https://www.linkedin.com/in/oliviamorley/ and https://www.linkedin.com/in/brianwieser/.

Each week on the M&W Podcast, we review Madison & Wall’s research and analysis to help listeners understand how the advertising business works. We explore how the economy and major trends impact the ad industry, delve into relevant accounting and finance concepts, and touch on advertising history.

In this episode, Brian looks at the latest e-commerce sales data, Comcast's non-strategic view of cable networks along with the history of USA Network, plus additional analysis on how an installation of RFK Jr. into the US government may lead to a meaningful negative financial impact on the real news business.

Listen to this episode and future M&W Podcast episodes at https://feeds.captivate.fm/madison-and-wall/.

Each week on the M&W Podcast, we review Madison & Wall’s research and analysis to help listeners understand how the advertising business works. We explore how the economy and major trends impact the ad industry, delve into relevant accounting and finance concepts, and touch on advertising history.

In this episode, Brian looks at Madison & Wall's latest advertising industry forecast for 2025 and beyond and reviews key themes for the sector from investor days hosted in recent weeks by major marketers P&G, Nestle and Unilever.

Listen to this episode and future M&W Podcast episodes at https://feeds.captivate.fm/madison-and-wall/.

Each week on the M&W Podcast, we discuss Madison & Wall’s latest research.  This week we review new economic data and our work from the past week. This week that includes a critique of comments made by Meta CEO Mark Zuckerberg on the topic of diversity in corporate environments along with a financial analysis-driven view in support of it.

In addition, after introducing our Advertising 101 series last week, this week our guest is J. Francisco Escobar, President & Founder of JFE International Consultants, one of the industry’s foremost experts on marketing procurement.   In this episode we explore how and why the marketing procurement function sets so many of the frameworks that define the decisions that marketers make with respect to their media and advertising activities.    

Each week on the M&W Podcast, we discuss Madison & Wall’s latest research and explore how and why money flows through the advertising economy.

On this week's podcast we review our newest advertising forecast, our recent research on the recent history of automotive advertising and provide read-throughs for the agency and advertising industries from Accenture's latest results.

In addition, our Advertising 101 series continues with a focus on the media research with Stacey Lynn Schulman most recently an executive with Nexstar, but whose career also included an extended period at Interpublic's Initiative overseeing global research.

This follows the past four weeks where we started diving into the role of agencies on Ep. 23 with Macquarie Securities' Tim Nollen, Ep. 24 with Heartmore's Carl Hartman where we focused on the function of the global account lead, on Ep. 25 on media agencies with Boston University professor Janna Greenberg and on Ep. 26 on media planning with Scott Wensman. Our first six parts focused on marketers and how they allocate resources (you can listen to these interviews on episodes 17-22 of The M&W podcast).

Each week on the M&W Podcast, we review Madison & Wall’s research and analysis to help listeners understand how the advertising business works. We explore how the economy and major trends impact the ad industry, delve into relevant accounting and finance concepts, and touch on advertising history.

This week we review Madison and Wall's most popular pieces of research during 2024, which highlighted to us some of the year's most important issues to the industry, at least among our readers. These included multiple posts on TikTok, the Omnicom-Interpublic merger, and our analysis of packaged goods company CEO and CFO commentary

Each week on the M&W Podcast, we discuss Madison & Wall’s latest research and explore how and why money flows through the advertising economy.

This week that new work includes new analyses of earnings results from ad-supported companies including Google and Amazon, Publicis and Omnicom, Canada's Bell Media and many, many more.

In addition, our Advertising 101 series continues with a focus on B2B marketing to explore how it differs from consumer-focused marketing with Ari Osur, formerly a CMO and senior marketers for multiple B2B businesses.

This follows on part 1 with Gerry D'Angelo where we discussed how marketers organize themselves, part 2 with Francisco Escobar on the role of marketing procurement, part 3 with Deborah Wahl on the resource allocation choices marketers make and part 4 with Gordon Ho on the different ways small, medium-sized and large businesses engage in marketing (which you can listen to on episodes 17, 18, 19 and 20 of The M&W podcast).

Each week on the M&W Podcast, Olivia Morley and Brian Wieser discuss Madison & Wall’s weekly research and analyses to help listeners understand how the advertising business works. 

 We explore how the economy and its major indicators could impact the advertising industry; dig into relevant accounting and finance concepts; and overview ad history. 

In episode 6, Brian and Olivia guide listeners through Madison & Wall’s latest work on capital expenditure data for the media industry. Then, they talk about how the data illuminates which companies are investing in their futures and which are not. (This is particularly relevant in a world where changes driven by AI-based technologies could meaningfully impact the industry.)

The hosts also explain how M&W’s recently published data on the 50 largest advertising sellers in the United States can be evaluated by sector, on a quarterly basis. 

 Brian and Olivia wrap the episode with segments on automotive advertising trends and history, including a discussion of General Motors’ plans to further cut its marketing spend.

 Listen to this episode and future M&W Podcast episodes at https://madisonandwall.com/.

Access more M&W research summaries and analysis by subscribing to our complimentary Saturday newsletter at madisonandwall.com. 

To share feedback or questions, learn about becoming a paid subscriber, or discuss advertising opportunities, reach out to Brian at brian@madisonandwall.com, or Olivia at olivia@madisonandwall.com. Or connect with them on LinkedIn at www.linkedin.com/in/oliviamorley/ and www.linkedin.com/in/brianwieser/. 

Thank you for listening!

As always, we review new economic data and our work from the past week. This week that includes our research on Meta's elimination of third-party fact-checking, growth rates for independent agencies, the impact on advertising from Disney's combination of Hulu Live with Fubo and our expectations for what advertisers will do if a "ban" on TikTok takes effect in the United States.

In addition, starting with this week’s episode, we are introducing our Advertising 101 series, a multi-part (i.e. every week all year-long) tutorial that will explain how the industry really works and why money flows as it does.   We’re kicking things off with Gerry D’Angelo, currently a senior advisor at McKinsey and formerly the global VP of media at Procter & Gamble.  In our conversation, we explore how and why marketers organize themselves the way they do.   As much as anything we have produced to date, we guarantee it will be worth your while.