Companies in this industry create advertising campaigns, implement public relations campaigns, and engage in media buying, among other advertising services. The world's major advertising companies include Dentsu (based in Japan), Interpublic (the US), Omnicom (the US), Publicis (France), and WPP (Ireland).
Migration of ad spending to digital media continues to drive change in the industry. Global media owner revenue from digital ads, including search, social, and mobile, surpassed TV ad revenue for the first time in 2017, according to MAGNA. Within the industry, competition is high between firms that provide traditional TV or print advertising and those that provide more modern digital and mobile/social focused services. This leads many larger firms to create or acquire brands that offer a wider array of services.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major sources of revenue for the industry in the US are advertising for print, broadcast, and online media (about 25% of industry sales), public relations (12%) and direct marketing (10%). Other services include display advertising, media buying (reselling advertising time or space), and media representation (selling advertising time or space on behalf of media outlet owners).