Abstract:

The roots of oral advertising may be traced back to ancient times when the humankind first discovered commerce. However, it was not until the second half of 19th century that advertising became an “industry” with newspapers being the early earners of advertising income generated by this industry. In today’s world, global advertising industry is an essential part global economy in the sense that almost every industry needs the support of advertising to be able to reach the consumers. On the other hand, media industry is more dependent on advertising industry perhaps more than any other sector since in most cases advertising income is an indispensable part of the media companies’ business models. However, the advertising industry has gone through fundamental changes especially since internet companies accelerated their dominance on advertising industry. This change has affected traditional media sectors deeply and today even their sustainability is under question. The purpose of this study is to explore the dependence of media sectors on advertising by collecting data from governmental institutions, business associations and credible companies with global network and provide an insight for media companies and academics on where the advertising industry is heading. United States and United Kingdom are chosen for comparison to Turkey because of the size of their advertising industry and leadership in adopting new developments Keywords: Advertising Economics, media industry, internet advertising

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