One big thing
I had a friend text me a link to the FT piece on The Trade Desk this week, with the comment “I didn’t know there was so much money in advertising”.
And Martin Kihn reminded folks of the economic fortitude of advertising with his brilliant piece on The Case for Advertising.
A 1999 study overseen by a Nobel Laureate found advertising accounted for about 2.5% of U.S. economic output.
That’s right, it does, it helps keep the economy moving. Providing utility by helping filter consumer choices.
A decade and a half later, IHS Global Insight concluded that every dollar spent on advertising generates $22 in economic output (sales), and every $1 million spent supports 81 American jobs.
An update done in 2015 found that advertising impacted up to 19% of U.S. GDP.