James Kenny's questions to IAC Inc (IAC) leadership • Q3 2024
Question
James Kenny requested more detail on potential corporate cost reductions following an Angi spin-off and asked for observations on the current macro environment for digital advertising.
Answer
IAC CEO Joey Levin said no specific number for cost savings is being provided yet, but all corporate costs are being reviewed to rightsize for a slimmer IAC. Regarding the macro environment, Levin described the consumer as 'reasonably healthy,' citing stable trends at MGM, Turo, and DDM's commerce business. Executive Christopher Halpin added that while October ad spend was soft, categories like retail, tech, and health have since recovered solidly.