herald

Wednesday 26 September 2018

PUBLICITYAdvertising is a €5.3bn generator

ADVERTISING contributes €5.3bn to Irish GNP. A report from Deloitte, sponsored by Independent News & Media, RTE, Core Media and Google, found that every €1 spent on advertising generates €5.70.

The industry supports 30,000 jobs, and 7,000 people were employed directly in advertising last year. Advertising accounts for 38pc of all Irish media revenues, and a significant €938m was spent on advertising media placement here in 2012.

The report also highlighted several studies that illustrated how advertising had helped safety-awareness campaigns, bolstered broadband penetration and supported exports.

The 'Advertising: An Engine for Economic Growth' survey is the first of its kind to detail the impact the industry has.

Alan Cox, the CEO of Core Media (pictured with Communications Minister Pat Rabbitte), said: "This report provides a valuable contribution to understanding the industry's role in the economy.

"We request that policy-makers take note of the disproportionate impact our industry has on the economic performance of this country, and we ask the Government to consider the benefits that would accrue from a programme which incentivises and encourages businesses to invest in advertising."

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