This document discusses how the COVID-19 pandemic is affecting brands and what to expect in the coming months. It notes that global GDP growth forecasts have been downgraded significantly. Media spending is expected to drop sharply, especially in sectors like travel and luxury goods. TV and online media are doing better than others like radio and out-of-home. The document provides recommendations for brands on focusing messaging, maintaining awareness, and preparing for a rebound in spending once restrictions are lifted.