Ad bosses call for Govt investment
The British advertising industry is now responsible for generating £100 billion of GDP and urgently needs Government attention to kick-start economic growth, according to a report unveiled today.
Miller: wants ad industry to ‘realise its full potential as a key driver of economic growth’
Advertising Pays: How Advertising Fuels The Economy has been produced by Deloitte for the Advertising Association. It is the biggest report for decades into the value and contribution of the ad industry. The initiative is launched today (Thursday) at the LEAD 2013 conference in London with a keynote address by the Culture Secretary, Maria Miller.
Deloitte’s calculations, based on its econometric modelling and 14 years’ data across 17 countries, concludes that £1 of advertising spend generates £6 for the British economy – a quicker and more effective creator of growth than investing in big infrastructure projects.
Tim Lefroy, the chief executive of the AA, said: "In an economy where 60 per cent GDP is rooted in household consumption, the means to bring products to market must not be forgotten. Advertising is sharpening competitiveness and acting as a spur to innovation."
The industry has launched a three-point plan to boost GDP growth through advertising. This includes stimulating businesses to advertise by updating the Small Business Accelerator programme; "pushing back" against "damaging" European Union data-protection proposals; and tackling "over-regulation that stifles investment and undermines confidence".
Miller told Campaign: "The creative talent that makes Britain a world leader for fantastic film and TV, amazing special effects and wonderful music is the same talent that inspires and makes our advertising. We must nurture this talent, which is admired the world over, so the advertising industry can realise its full potential as a key driver of economic growth."
This article was first published on campaignlive.co.uk
Latest jobs Jobs web feed
- Brand Manager Radisson Blu Edwardian, London Competitive , South Kensington, London
- Account Director- Exciting Online Content Marketing Company- Up to £70,000 plus OTE Cedar Scott Up to £70,000 basic (up to £90,000 OTE) plus share options, Central London
- ACCOUNT DIRECTOR/SENIOR ACCOUNT DIRECTOR - BTL/SP/Brand Experience - London - £45 - £55k plus bonus Judi Patton £45K-55K plus bonus, London/Greater London
- Senior Planning Director, International Agency, London, to £120k Fill Recruitment Ltd to £120,000, Central London
- Head of Customer Analytics - Consultancy Harnham £90000 - £100000 per annum + benefits, London
- Senior PPC Account Manager (In-house) Step Ahead Recruitment £30-£40K, Staines, Middlesex
Integrated digital marketing offers huge opportunities to engage, servic...
Mobile marketing is coming of age, and the pace of change is now exponen...
With UK consumers spending an average of £1,083 a year online, int...
Conversational Mobile Marketing: Engage Customers and Empower Advocates (Expert Reports) External website
The pressure is on for marketers and mobile operators to embrace a strat...
As a nation, the UK is media and technology obsessed with over half of t...
All customers have the potential to become your brand advocates, driving...