It's also after Jan 1. Campaigns typically run out on Dec 31 and don't really pick back up until Feb and Mar. January has never been a strong month for us from an ad revenue perspective.
Just for reference, today we've only made 55% of the revenue for the month that we made by this time in December. We made 25% less yesterday (Jan 7) than we did the previous Tuesday.
And I have made no changes to the ads we're serving.