Financial disaster is hitting the world today (Monday August 5th,2024) as indexes around the globe see their biggest declines in over 20+ years. Wall Street is in panic, blaming the Fed for dragging its' feet on reducing interest rates in a futile effort to stem inflation. The Dow Jones is down over 1100 points, S&P down 3%, NASDAQ tanking, Japan and European markets crashing....
Are er officially in a recession now? But more importantly to us pornographers: how will this economic upheaval affect our businesses?
This year has already seen drastic changes in the Adult Industry, including but not limited to new Visa rules, Google AI updates fucking with SERPs and Age Verification laws going into affect in several US States. And now this??
This summer was already adding up to be one of the worst in recent memory in terms of sales/revenue (July especially) and the late summer rebound many of us were hoping for seems a dream on a day like this one.
What do you think the rest of 2024 holds for the porn biz and what are you doing (if anything) to prepare yourself and your business for a possible economic collapse? Adult has always been 'recession proof' but I'm thinking this one will be a real test of that theory.
What say you?
