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The Role of Advertising Agencies in Canada's Service Sector

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The Role of Advertising Agencies in Canada's Service Sector , OF THE SERVICE SECTOR , IN CANADA The Role of Adverti::..ing Agencies in Canada'~ Service ~ector Kristian S. Palda llf~ INSTITUTE Copyright the Fraser Institute www.fraserinstitute.org The Role of Advertising Agencies in Canada's Service Sector Copyright the Fraser Institute www.fraserinstitute.org THE ECONOMICS OF THE SERVICE SECTOR IN CANADA Series Editors: Herbert G. Grubel Michael A. Walker Copyright the Fraser Institute www.fraserinstitute.org The Role of Advertising Agencies in Canada's Service Sector Kristian S. Palda llfFRASER INSTITUTE Copyright the Fraser Institute www.fraserinstitute.org This study is part of a general programme of research into the services sector made possible by a contribution from the Department of Regional Industrial Expansion, Government of Canada. The author of this book has worked independently and opinions expressed by him, therefore, are his own and do not necessarily reflect the opinions of the members or the Trustees of The Fraser Institute. Canadian Cataloguing in Publication Data Palda, Kristian S., 1928- The role of advertising agencies in Canada's service sector (The Economics of the service sector in Canada, ISSN 0835-4227) Includes bibliographical references. ISBN 0-88975-109-9 1. Advertising agencies - Canada. I. Fraser Institute (Vancouver, B.C.). II. Title. III. Series. HF6182.C2P34 1988 659.1 '125'0971 C88-091233-2 Copyright © 1988 by The Fraser Institute. All rights reserved. No part of this book may be reproduced in any manner whatsoever without written permission except in the case of brief quotations embodied in critical ar­ ticles and reviews. Printed in Singapore. Copyright the Fraser Institute www.fraserinstitute.org CONTENTS Preface and Summary / xi Acknowledgements / xiii Introduction / xv About the Author / xviii CHAPTERl A DESCRIPTION OF THE INDUSTRY / 1 Definitions Used in This Study / 1 Industry / 1 Services / 2 Characteristics of Services Provided /2 General Considerations / 2 The First Perspective /3 The Second Perspective /6 Specific Descriptions / 7 Evolution of Advertising Service Characteristics / 9 Main Consumers of SIC 774 Services / 11 Characteristics of Employees / 15 Importance of Research and Technology /16 Regulation / 17 Perceived Needfor Regulation ofAdvertising /17 Canada's Regulatory Set-Up / 19 Industrial Associations / 25 Treatment in Government Statistics /28 Regional Differences in Production and Sales in Canada / 29 Importance of Imports and Exports / 30 Notes / 31 Copyright the Fraser Institute www.fraserinstitute.org vi Contents CHAPTER 2 INDUSTRIAL ORGANIZATION AND INTERNATIONAL POSITION / 35 Industrial Organization Characteristics / 35 Legal Forms of Ownership /35 Size Distribution of Firms / 35 The Whole of SIC 774 / 35 Advertising Agencies /35 Advertisers / 39 Internal Advertising Agency Organization /39 Degree ofForeign Ownership and Influence /41 The Industry in the World Economy /41 Current Aspects / 41 Future Prospects / 43 Notes/45 CHAPTER 3 INDUSTRY OUTPUT / 47 Advertising Expenditures in Canada /47 Revenues of SIC 774 Enterprises / 50 Revenues of Advertising Agencies / 54 Exports and Imports / 57 Notes/58 CHAPTER 4 INDUSTRY EMPLOYMENT AND PRODUCTIVITY / 59 Expenditures on Inputs Into the Industry's Output/59 Capital Inputs / 59 Labour Expenses /59 Input/Output /59 Size and Characteristics of the Labour Force Employed / 62 Labour Productivity /67 Notes/71 Copyright the Fraser Institute www.fraserinstitute.org Contents vii CHAPTERS SOURCES OF CHANGING DEMAND IN THE INDUSTRY / 73 General Considerations and Formal Models /73 Informal Analysis of Potential Changes in Demand / 76 The A/GNP Ratio / 76 The Advertising-Promotion Mix / 76 Other Developments / 77 Conclusions / 77 Notes/79 CHAPTER 6 WELFARE AND INCOME DISTRmUTION EFFECTS /81 Employment Growth and Share in Total / 81 The Bimodality Hypothesis / 81 Value Added to the Economy /82 Riskiness of the Business / 82 Taxes Paid by the Industry / 85 Notes/86 CHAPTER 7 MAJOR ISSUES FACING THE INDUSTRY / 87 Shift Away from Media Advertising / 87 Mergers and Globalization / 87 Technological Change / 89 The Remuneration System /90 Regulation and Taxation / 91 Freer Trade with the United States / 91 Concluding Remarks / 92 Notes/95 Copyright the Fraser Institute www.fraserinstitute.org viti Contfmts APPENDIX A CANAVIANCODE OF ADVERTISING STANDARDS / 97 APPENDIXB TESTING FOR CAUSALITY BETWEEN AGGREGATE ADVERTISING AND CONSUMPTION IN CANADA /103 Copyright the Fraser Institute www.fraserinstitute.org TABLES AND FIGURES Tables 1 Internal Costs of Advertising and External Expenditures on Advertising, 1965/3 2 Media Advertising Expenditures in Selected Industries / 12 3 The Top 35 Advertisers in 1985/ 13 4 Selected Statistics Regarding Canadian Federal Government National Advertising Expenditures /14 5 Advertising Self-Regulation and Government Regulation / 21 6 Membership in the Institute of Canadian Advertising, 1985/26 7 Income, Billings, Employees and Offices of 12 Canadian Advertising Agencies / 38 8 1986 U.S. and Non-U.S. Billings and Gross Income of Top 5 U.S.-based Agencies /42 9 Advertising and GNP 1971-1986/48 10 National and Local Components of Media Net Advertising Revenues, 1984/50 11 Advertising Services-Revenues / 51 12 Net Profit Before Tax and Return on Equity of Incorporated Advertising Service Businesses (1965-1984) / 53 13 Advertising Agencies-Revenue Statistics /55 14 Input/Output Table for the Advertising Services Industry / 60 15 Various Employment Statistics / 61 16 Employment and Male/Female Proportions /63 17 Employment and Education, by Sex (1971 and 1981) / 64 18 Labour Productivity Indices in SIC 774/68 19 Labour Productivity Indices in the Agency Sector / 69 20 Growth and Share of Labour Force in Advertising Services and in the Economy, 1961-1984/82 21 How 136 Canadian Advertisers Compensated Their Agencies in 1985/91 Copyright the Fraser Institute www.fraserinstitute.org x Contents Figures 1 Advertising Standards Council Self-Regulatory Procedure / 22 2 Canadian Advertising Foundation /27 3 Total Revenue-Regional Distribution Advertising Services 1984 /29 4 Number of Firms by Revenue Size 1982-1984/37 5 Average Revenue-Advertising Services 1982-1984/37 6 Organizational Chart of a Typical Advertising Agency /40 7 Gross Advertising Revenues of Media 1971-1986 /49 8 Gross Ad Revenue as Percentage of GNP 1971-1986 /49 9 Advertising Services-Revenues 1965-1984/51 10 Net Profit Before Tax as a Percentage of Total Income and ROE Before Tax 1965-1984/53 11 Total Billings & Gross Revenue from Ad Billings 1972-1977 / 55 12 Media Billings to Clients 1972 / 56 13 Media Billings to Clients 1977 / 56 14 International Receipts & Payments / 57 15 Remuneration as Percentage of Total Income 1973-1984 / 61 16 Female Share of Labour Force 1961-1981/63 17 Share of Labour-University Degree 1971-1981 /65 18 Percentage of Females-University Degree 1971-1981/65 19 Real Value Added-Advertising Services / 68 20 Real Value Added per Employee /69 21 Gross Advertising Expenditure and Personal Consumption Expenditure 1952-1986/74 22 Personal Expenditures on Services-Proportion of Total 1965-1985 /75 23 Expenditure in Print Media-Percentage of Total 1965-1985 /75 24 GDP of Advertising Services in Current and Constant (1971) Prices 1971-1983/83 25 Advertising Services' Share ofGDP 1971-1983/83 26 GDP of Services to Business in Constant (1971) Prices 1971-1983/84 27 Indirect and Direct Taxes 1973-1984/84 A-I The Plan for an Advertising Campaign / 102 Copyright the Fraser Institute www.fraserinstitute.org PREFACE AND SUMMARY This study describes and analyses the services-to-business sector which, on behalf of the advertisers, prepares and places in media just under one-half of the advertising directed to Canadian buyers. The sector consists quite visibly of advertising agencies, and of a multitude of supporting businesses about which there is very little information. Total revenues of the sector are at the $1.5 billion mark; its share of the gross domestic product is in slight decline. Despite its modest size, the sector's member fIrms playa crucial role in disseminating market information in Canada's economy. That role, its his­ tory and its organizational underpinning are described at length. The sector is intensive in human capital and readily adaptive to technological change. Yet its growth appears to depend on changes in the economy's output and is less dynamic than that of business services in general. Of the several chalh::nges the sector is facing, that of the alleged shift of advertisers' funds to sales promotion and that of global standardization of multinationals' advertising appear the most prominent. The first challenge presents an opportunity rather than a problem. The second may prove dif­ ficult for Canadian-owned agencies that service foreign multinationals. The statistical information about the sector used to be (until 1977) much better but will improve again when the results of the yearly surveys started by Statistics Canada in 1985 become available. A co-operation between the trade associations of advertisers, media, and agencies with Statistics Canada would easily yield a valuable yearly compendium of information on this and allied sectors., Copyright the Fraser Institute www.fraserinstitute.org Copyright the Fraser Institute www.fraserinstitute.org ACKNOWLEDGEMENTS I wish to express my gratitude to those who pointed me to data sources, provided and shared information, and gave excellent advice. Ms. Anna Ansmits, director of the services division of Statistics Canada, and
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