根据5 月24 日收盘后Snap 向SEC 提交的文件，管理层表示宏观环境的恶化速度超过公司在2022 年4 月发布业绩指引时的预期，因此2Q22 Snap的收入和调整后EBITDA 可能较前期指引更差，但公司对于长期的用户增长与商业化仍有信心。受到该消息的影响，5 月25 日Snap 收跌43%，Meta（-8%）、Unity（-14%）、谷歌（-5%）、亚马逊（-3%）等公司股价也均有回调。我们认为Snap 收入预期的持续下调也反映出海外广告疲软，IFDA的政策、俄乌冲突、供应链等宏观因素对于市场的压制较明显，建议关注后续围绕IDFA 政策的技术更迭以及宏观环境的边际改善。

2022.5.23至 2022.5.29日申万传媒行业上涨 0.94%，表现强于沪深300（-1.87%），强于创业板（-3.92%）。子板块中，涨幅居前的是图片板块、大众出版板块、新闻网站板块、2B 板块和新媒体平台板块，跌幅居前的是电商产业链板块、数字阅读板块、广告营销板块、网红产业链板块和游戏板块。SW 传媒中涨幅居前的是实益达、*ST 新文、粤传媒、龙版传媒和美盛文化；跌幅居前的是奥飞娱乐、华谊嘉信、三五互联、*ST腾信和*ST 巴士。

Football, also known as soccer, is a famous sport across the globe, especially in European countries. Football leagues such as the FIFA World Cup, UEFA Champions League, and UEFA European Championship promotes market growth. Football leagues used to do a huge promotions such as sponsorship, promotion of jerseys, broadcasting matches, and making of football anthems during world cups with celebrity endorsement, which increases interest of playing football among customers. Furthermore, a football league generates enormous income. Thus, the increasing trend of football leagues influence the investors as well. Mainly these investors are the sports brands, which seek opportunity in their brand promotion through sponsorship and investments. Moreover, there are some football associations that promote interest of customers in the football market. Such football associations are present in almost every city or country. Furthermore, these promotions encourage fitness and health-conscious customers to adopt football as sports or use it in exercises. Hence, such factors promote growth of the football market.