The House of Lords Communications Committee has today published its report UK advertising in a digital age. Following the publication, the Advertising Association has issued the following statement.
Stephen Woodford, Chief Executive, Advertising Association, commented:
“We welcome the publication of the House of Lords Communications Committee report into the advertising industry and thank the Committee Members and staff for all their hard work. We are pleased the vital contribution that advertising makes to the UK economy is recognised. The report highlights that our industry generates more than £120bn per year for GDP and supports nearly a million jobs in communities right across the country. Also, that the UK is also a global success story, with the latest available figures showing exports of British ad services reached a record high of £5.8bn in 2016 – demonstrating our status as a world-class hub for the industry.
“UK advertising, like our fellow industries, awaits the results of the Brexit negotiations as much rides on this in terms of our future success. As such, we appreciate the recognition of the huge value overseas talent brings to British advertising and the report’s recommendation that the country retain access to the world’s brightest and best talent after we leave the EU.
“The report has also drawn attention to the rapid change taking place in our industry through the impact of technology and both the opportunities and the challenges this poses. Across the industry many organisations and trade bodies are working to ensure it continues to be a sustainable, competitive and trusted industry. The AA’s Trust in Advertising working group, chaired by the Phil Smith, ISBA and Paul Bainsfair, IPA, and involving senior figures from across our industry, will lead the way in ensuring our industry is on the front foot in meeting these challenges.
“We are also delighted to be asked to continue to lead the way on diversity, thanks in part to our industry-wide commitment to a diverse and multi-skilled workforce reflective of British society and the communities we see up and down the country. To this end, we work closely with organisations such as the Ideas Foundation to encourage young people into the creative industries, and we support advertising’s Diversity Taskforce to encourage more people from BAME communities to join our industry. We recognise the importance of everyone who wishes to work in UK advertising – whatever their background – being able to realise their full potential.”
The Advertising Association promotes the role, rights and responsibilities of advertising and its impact on individuals, the economy and society. Responsible businesses understand that there is little point in an advertisement that people cannot trust. That’s why, over 50 years ago, the Advertising Association led UK advertising towards a system of independent self-regulation which has since been adopted around the world. There are nearly thirty UK trade associations representing advertising, media and marketing. Through the Advertising Association they come together with a single-voice when speaking to policy-makers and influencers.