EFTA Document EFTA01385417

3 January 2018 HY Corporate Credit HY Multi Sector.Media. Cable & Satellite Shifting gears to the operating environs, after US advertising revenues grew -5% in 2016 (the strongest showing in over a decade), 2017 posted a more modest but still positive -2.6% gain. Digital (display, video, social, search, etc.) is now the largest media platform in the country (at -46% of total ad revenues). The category led the charge with high-teens growth, as social media, video, mobile, and paid search