If there ever was an ad budget, it'll go elsewhere (native advertising, direct sponsoring, whatever).
I'm not exactly sure what you mean here. There was quite a bit of money being spent on advertising to people in the EU on May 24th. Due to GDPR, many of the advertisers that were spending this money will no longer be able to make a profit from this activity. They will therefore cease that spend, and the EU online ad market will dramatically shrink as a result. The EU companies that were receiving the money from those advertisers will no longer receive it, and many EU publishers will go out of business.
I'm not exactly sure what you mean here. There was quite a bit of money being spent on advertising to people in the EU on May 24th. Due to GDPR, many of the advertisers that were spending this money will no longer be able to make a profit from this activity. They will therefore cease that spend, and the EU online ad market will dramatically shrink as a result. The EU companies that were receiving the money from those advertisers will no longer receive it, and many EU publishers will go out of business.