New research by
think-tank Credos suggests that previous estimates of the UK advertising
industry’s value have been significantly understated.
Credos, in
collaboration with The Work Foundation, has established a new model to explain the
industry’s economic worth. The result –
a contribution of some £15.6 billion – is double the previous value of £7.8
billion published by the Department for Culture, Media and Sport in 2008.
Karen
Fraser, Director of Credos, said, “It appears that
previous calculations are too low, not least because the impact of advertising
as a major customer to the creative industries has been over-looked.”
You can read the full release here.