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US-based★U.S. advertising spending of $300 billion supports $5.8 trillion in economic output
Advertising Age reports that a joint study by the U.S. "Advertising Coalition" (TAC) and the Association of National Advertisers (ANA) found U.S. advertising spending across all industries and media approached nearly $300 billion in 2014.
According to the report, estimated advertising spending in the U.S. for 2014 was $297 billion. This advertising expenditure supports the U.S. economic output of $5.8 trillion and creates 20% of the 142 million jobs. It was also found that the average annual income for jobs supported by advertising is approximately $96,000 (about ¥11.8 million), higher than the national average.
The report also predicts that if the current economic conditions persist, advertising spending will continue to grow at an average annual rate of 3.3% from 2014 to 2019, reaching $349 billion by the end of the decade.
TAC is an industry association composed of advertisers, advertising agencies, and media companies across the United States, actively opposing government advertising regulations. ANA, meanwhile, comprises 680 U.S. companies (representing 10,000 brands), whose members collectively spend $250 billion annually on advertising and PR. Both organizations view the study, commissioned from IHS's Economics and Country Risk division, as a tool to counter congressional efforts to limit tax deductions for advertising expenditures.
Source: Ad Age
Study: Advertising Supported $5.8 Trillion in U.S. Economic Output
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