Media executives say their companies can finally weather a recession
- Media executives are hopeful they've learned lessons and streamlined their businesses to weather a potential recession.
- Media job losses have spiked in each of the last three recessions.
- The scope of any advertising pullback is still unknown, although one executive told CNBC a 20% retreat is possible by year-end.
While media executives are meeting with advertising leaders this week over glasses of rose at the annual Cannes Lions International Festival of Creativity, they can't help but talk about the disconnect between hanging out with celebrities on yachts and the creeping feeling that a recession is around the corner.
"It feels like a party here," NBCUniversal CEO Jeff Shell said to CNBC's Julia Boorstin from Cannes on Wednesday. "I don't know if that's because most of you are …
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