Report: “Advertising Creates Employment, Innovation, Culture And Democracy!”

Report: “Advertising Creates Employment, Innovation, Culture And Democracy!”
SHARE
THIS



If you thought advertising was only good for flogging a few extra cans of dog food or frozen corn to stressed mothers then you need to think again if the results of a new study are to be believed.

Rather than simply create an opportunity to use the toilet during your favourite TV shows, advertising drives economies creating a seven-fold effect for every dollar spent. It employs stacks of people and pays for media that wouldn’t normally be available.

That’s the findings of a new report by global accounting firm Deloitte and commissioned by the World Federation of Advertisers.

The report examined the collective media spend of 28 EU countries and found that in 2014 (when the most recent figures were calculated) some €92 billion ($A139 billion) was spent on advertising resulting in an estimated effect on GDP of €642.8 billion ($A912 billion) – nearly a seven-fold impact.

Media is also a good supplier of jobs in the EU, the report noted. Nearly six million Europeans work in the advertising and media industries and – as surprising as this may sound – people working in the industry were paid higher salaries than the average (€34,000 versus €22,000.)

The report noted: “Advertising matters for employment, innovation, culture and entertainment, and supports media plurality, which is fundamental to democratic freedoms. The benefits are pervasive and run through the fabric of society.”

It added: “Advertising is a vital economic engine that encourages competition, drives innovation in business and provides significant benefits to society by funding or part funding media services, from news to entertainment. Policy-makers should be mindful that ad restrictions have important economic, social, and cultural consequences.”

However, it came with a warning, too. Tougher regulation around advertisers collecting people’s data have been mooted throughout Europe which could result in “concern that the economic benefits of advertising could be diminished”. It also highlighted advertisers move away from traditional media into things like Facebook and Google should be of real concern to traditional publishers and media models.

Latest News

Pooled Energy Appoints Magnum & Co And The Wired Agency
  • Advertising
  • Marketing

Pooled Energy Appoints Magnum & Co And The Wired Agency

Swimming pool electricity retailer Pooled Energy has appointed Magnum & Co and sister agency The Wired Agency to its roster, following a competitive pitch. Magnum & Co will handle Pooled Energy’s social media and PR, while The Wired Agency has been appointed to manage the company’s search and display advertising. Both agencies will collaborate with […]

Masculinity Roasted In Clever New Ad
  • Advertising
  • Campaigns

Masculinity Roasted In Clever New Ad

Think masculinity means drinking a case without chundering? Well, rediscover it (& possibly yourself) with this top ad.

by B&T Magazine

B&T Magazine
WPP AUNZ Partners With Career Trackers Indigenous Internship Program
  • Advertising

WPP AUNZ Partners With Career Trackers Indigenous Internship Program

Advertising and marketing network WPP AUNZ has joined the Career Trackers Indigenous Internship Program as part of its commitment to a diverse workforce, and the creation of opportunities that inspire excellence. As part of the program, WPP AUNZ has welcomed its first three interns: Abi-Leigh Dillon (WPP AUNZ), Amy Mccutcheon (MediaCom) and Jacinta Evans (Ogilvy), […]

Taboo Goes On A Hiring Spree
  • Advertising

Taboo Goes On A Hiring Spree

Taboo has gone a hiring spree. And when it comes to sprees, that's far better than a shooting one or a farting one.

M&C Saatchi Group’s 1440 Shuts Up Shop
  • Marketing

M&C Saatchi Group’s 1440 Shuts Up Shop

Sadly, M&C Saatchi's 1440 is no more. And chances of it being reborn as 1550 not looking much chop either.

by B&T Magazine

B&T Magazine
Luke Kelly Becomes A Partner At HBT
  • Advertising
  • Marketing
  • Technology

Luke Kelly Becomes A Partner At HBT

B&T's not sure what's with that twirly thing in the press photo, suffice to say a vortex to an alternate dimension?

Women In Media Profile: Alison Michalk
  • Media

Women In Media Profile: Alison Michalk

If B&T's Women in Media profiles were an animal they would be a gazelle or lioness, or even a lioness eating a gazelle.

by B&T Magazine

B&T Magazine
Grant Broadcasters Makes Several Changes To Senior Executive Team
  • Media

Grant Broadcasters Makes Several Changes To Senior Executive Team

Independent media company Grant Broadcasters has announced a number of changes to its executive ranks. Grant Cameron will move up to become non-executive chairman for the company, and Alison Cameron (pictured above) – currently the chief operating officer – will assume the CEO role. Dugald Cameron remains responsible for the family’s investment portfolio and is […]

Shopper Media Group Partners With Mist To Offer New Tech & AI-Driven Capabilities
  • Advertising
  • Media

Shopper Media Group Partners With Mist To Offer New Tech & AI-Driven Capabilities

Australian retail out-of-home (OOH) business Shopper Media Group (SMG) has announced a partnership with AI-powered wireless networks provider Mist. The partnership will see SMG offer new WiFi, analytics and location-based services across the company’s portfolio of Australian shopping centres. Mist currently provides WiFi and location services using virtual Bluetooth LE technology to businesses across all […]

Indy Agency This Is Flow Wins Cruiseco’s $5 Million Media Account
  • Advertising
  • Media

Indy Agency This Is Flow Wins Cruiseco’s $5 Million Media Account

Travel organisation Cruiseco has announced the appointment of Sydney independent agency This is Flow (TIF) to handle its $5 million media account. This is the first time Cruiseco has appointed an agency, having managed its communications internally. Cruiseco is the largest and broadest distributor of cruise products in the Southern Hemisphere. With a membership base […]

Women In Media Profile: Naomi Shepherd
  • Media

Women In Media Profile: Naomi Shepherd

Need a Monday morning pick-me-up? You could stand naked next to the office fridge or read these inspiring words.

by B&T Magazine

B&T Magazine
APN Outdoor Takes Off With Queenstown Airport Contract
  • Advertising
  • Media

APN Outdoor Takes Off With Queenstown Airport Contract

Out-of-home media business APN Outdoor has won the tender for New Zealand’s Queenstown Airport. As part of the new agreement, APN Outdoor has flagged extensive development plans for Queenstown Airport’s advertising assets. The new contract adds Queenstown Airport to APN Outdoor’s existing portfolio of Auckland and Christchurch Airports. The media company will hire a South […]