Industry and governments unite to support the advertising and media sectors
As part of wider efforts to offset the negative economic impact that the Covid-19 pandemic could have on the advertising and media sectors, a series of national advertiser associations are developing proposals, or working closely with government, on tax relief packages in their respective markets.
Some governments have offered tax relief packages for the advertising and media sectors (such as Australia, Italy and Denmark). National advertiser associations in other countries, such as Belgium and Spain, have called for similar measures. For an overview of government support across local markets, please see here.
Platforms have also developed initiatives to support the sector; Google has launched a global Journalism Emergency Relief Fund to support small- and medium-sized news organisations producing original news for local communities, and Facebook has announced that it would spend $75 million in a marketing drive aimed at supporting news organisations who will be most impacted by the economic downturn resulting from the Covid-19 pandemic.