Via Advertising Age
The gist: American companies spent nearly $300 billion on advertising last year, and the industry as a whole supported $5.8 trillion of U.S. economic output in 2014.
More information: As reported by Advertising Age, the IHS Economics and Country Risk study also found that advertising made up 20% of the 142 million jobs in the U.S. last year.
“The study also forecast that, under current economic conditions, spending on advertising will grow at an average rate of 3.3% from 2014 through 2019, rising to $349 billion at the end of this decade,” wrote Advertising Age.
Per Advertising Age, the Advertising Coalition and the Association of National Advertisers (ANA) want the study to “be used as a weapon to fight congressional efforts to restrict the tax deductibility of advertising expenses.”