Advertising fueled more than 20% of total U.S. economic output – $10.4 trillion in total sales activity – last year.


Furthermore, the advertising industry supported nearly one in five (29 million) American jobs in 2024.

Those are the big takeaways from a recent study commissioned by The Advertising Coalition and conducted by S&P Global Market Intelligence.

  • The Advertising Coalition is an alliance of media companies and trade organizations broadly representing advertising-centric businesses and interests across the country.
  • S&P Global Market Intelligence is a division of S&P Global that provides financial and industry data, research, news, and analytics


“The latest study provided by industry partners at The Advertising Coalition makes clear that advertising fuels our economy,” says PPAI President and CEO Drew Holmgreen. “Promotional merchandise professionals are proud contributors to that impact. What sets merch apart is its unmatched effectiveness in creating emotional, tangible connections between brands and consumers.

What sets merch apart is its unmatched effectiveness in creating emotional, tangible connections between brands and consumers.”

Drew Holmgreen

President & CEO, PPAI

“Nearly three-quarters of consumers recall the brand on a piece of merch, and 90% say they enjoy receiving it. That’s why merch consistently delivers long-term impact and joy in ways no other marketing medium can.”

Nearly $500 Billion Spent On Advertising Products

Overall, the study found that companies spent $491 billion on advertising their products and services last year, which directly stimulated $3.5 trillion in sales activity and another $2.8 trillion in indirect sales through the downstream suppliers to those advertisers.

  • Another $3.6 trillion in sales was through employee spending from those direct and indirect ad-supported businesses.


“Advertising is a robust catalyst that stimulates extensive economic activity across every state and every sector of the U.S. economy,” says Bob Flanagan, consulting director at S&P Global Market Intelligence.

Advertising is a robust catalyst that stimulates extensive economic activity across every state and every sector of the U.S. economy.”

Bob Flanagan

Consulting Director, S&P Global Market Intelligence

“Our data-driven models traced how advertising drives spending by U.S. business and households, stimulates supply chain activity and enhances income-based consumption. We quantified advertising’s broader economic impact on businesses, workers and communities across the country.”

Other key findings of the report:

  • Every million dollars spent on advertising supported 59 American jobs across a broad range of industries.
  • The average salary supported by advertising was over $93,000 per year, a level of compensation 26% higher than the national average.
  • The 17 states with the highest percentage of advertising-supported jobs were dominated by the Midwest (Illinois, Indiana, Iowa, Kansas, Michigan, Ohio, Wisconsin); the South (Alabama, Kentucky, Mississippi, South Carolina, Tennessee), and the West Coast (California, Oregon, Washington), as well as Maine and New Hampshire.


By 2029, advertising’s impact on the U.S. economy will increase to $12.7 trillion in sales activity and 32.1 million jobs, the study estimates.