ISBA, The Voice of British Advertisers, welcomes the findings of the new Deloitte Report, The economic contribution of advertising in Europe.
This study, for the World Federation of Advertisers (WFA), of which ISBA is the UK member, demonstrates the value of Advertising to the European GDP and puts a figure on it. Every advertising Euro spent is multiplied seven fold. The study found that advertising contributed nearly 6m jobs across the EU and 4.6% of total GDP.
“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. Europe without advertising would be poorer, less well informed and less competitive.” Deloitte Report 2017
Phil Smith, Director General of ISBA, the voice of British advertisers said: “The findings highlight that a healthy and vibrant advertising industry is vital to our economy. Advertising fuels competition, advertisers sell better products and create more jobs. In turn, advertising partially funds diverse news and entertainment media and pays entirely for many free online services we take for granted, like search and social media.
We believe European and national policy makers must assess the full range of implications when considering more restrictive advertising regulation.”
The new report looks at the:
• Economic benefits of advertising – 4.6% of GDP
• Employment benefits of advertising, providing 6 million jobs – 2.6% of EU employment without counting those working as advertisers
• Social Benefits, including funding our newspapers, magazines, TV, radio and online media
ISBA supports our partners in the WFA and across Europe in the media and in advertising agencies in calling for a moratorium on further restrictions on advertising to ensure that the overall impact of any new rules, including their unintended consequences, is fully assessed. The industry is concerned that the revised Audio Visual Media Services and the proposals for an ePrivacy regulation could create additional restrictions, hurting the European digital economy and reducing its potential to create local champions and more jobs.
About ISBA – the Voice of British Advertisers
ISBA is the only body focused solely on the interests of advertisers in the UK. With over 450 advertisers in membership representing in excess of £10bn spend on marketing communications, ISBA protects its members’ freedom to advertise responsibly and maximise their effectiveness in deploying their marketing spend.
ISBA is the advertiser member of the UK Advertising Association, and advertisers representative on CAP and BCAP the UK advertising code owning body. We are also active members of the International Chamber of Commerce Advertising and Marketing Commission, and members of the WFA based in Brussels.