The New Media is not immune to the common illnesses of the general market. It just gets diagnosed a bit sooner and with more information.
There is no way to hide from a slowdown in the economy. Here is the chart prepared by PubMatic indicating a downturn in online ad revenues for the bigger players. And good news for the smaller publishers.

And the good advice Rafeev Goel gives in this video is just basic marketing 101.
But as usual with any downturn, there are lots of opportunities popping up. This is usually the time when those with the money can grab market share. And often a good time to start a new business.