The ad market may be a tad lacklustre here in Australia but things look good in the US if a new study is to be believed.
According to the US’s Advertising Coalition and the Association of National Advertisers some $US300 billion was spent on all forms of advertising in the US in 2014. That’s $423 billion in Aussie dollars.
The report is presented to governments and officals to highlight the benefit that Adland has on the US economy.
On top of the massive spend, it also said advertising supported $US.8 trillion of US economic output and 20 per cent of the 142 million jobs in the United States.
In more good news, the study also forecast that spending on advertising will grow in the States at an average rate of 3.3 per cent per year over the next five years. It estimates that by 2019 local US ad spend will be $349 billion annually. Up $US50 billion where it is today.
“Recent legislation developed by former chairmen of the House and Senate tax-writing committees have made it essential for the nation’s advertisers and media to inform all Senators and Representatives about the important role advertising plays in each of their states and congressional districts,” the report said.