Why ad markets hold when oil doesn't

Global advertising is proving more resilient than the headlines suggest — even as the Middle East conflict and rising oil prices rattle energy markets, consumer confidence and supply chains. In episode 92 of the WPP Media Intelligence podcast, Kate Scott-Dawkins, Jeff Foster and Nidhi Shah break down what the oil disruption really means for ad budgets, why the ad market floor is holding, and what brands should do right now.

Plus: two landmark court rulings find Meta and YouTube liable for platform harm, Netflix makes its live sports debut with MLB opening night and draws 18 million viewers to its BTS concert, micro dramas emerge as a serious global media format, and the US ad market closes 2025 with a surprising 14.7% growth figure.

Key Topics Discussed

• Middle East conflict & oil disruption: Why global ad growth may hold despite the macro shock — and which sectors face the biggest risk
• Scenario planning for advertisers: Bull, base and bear case outlooks for 2025–2026 ad budgets
• Meta & YouTube legal verdicts: Platform liability, child safety rulings and what it means for brand advertisers
• Netflix live sports & live events: MLB opening night broadcast, the BTS concert hitting 18M viewers and top 10 in 80 countries, subscription price increases and the live events strategy
• Micro dramas: How short-form vertical video storytelling is going global and what the ad revenue model looks like
• US ad market 2025 results: 14.7% growth, digital advertising up 15.6%, digital newspapers up 10.4%
• 2026 US ad forecast: 7.4% growth projected, local TV under pressure in a midterm election year, out-of-home boosted by the World Cup

Chapters

00:00 - Middle East conflict and global ad market impact

15:57 - Meta and YouTube platform liability verdicts explained

20:47 - Netflix live sports, BTS and subscription price increases

25:39 - Micro dramas: the short form format going global

31:04 - US ad market 2025 results and 2026 forecast

34:20 - What to watch next week