As for the concern about job loss in the advertising industry, I don’t see it. If anything this is one area that will continue to grow. It means that the shift from the conventional “Big Professional Advertising Houses” to more unconventional guerrilla methods, product placement in media content, art, live performances, etc. The money will be distributed differently.

I see smaller companies and individuals competing for the dollars that once went to the giant houses. Creativity will be the key to success. Getting around the standards while increasing the entertainment quality of message will be tricky and and require quick thinking and flexibility. There will be more opportunities for the quick thinking individuals and groups to flourish.

I think you’re right that advertising won’t be impacted necessarily by this particular legal modification, but advertising doesn’t always just grow. It’s actually a pretty fickle industry. Marketing budgets get cut quickly during economic downturns.

Almost always a dumb idea: people won’t buy your stuff if they don’t now your stuff.

Apple’s “Think Different” campaign ran 10x what was “budgeted”, and didn’t even mention a product (as the product was the idea).

Marketing should be one of the last places to cut, if you don’t want to spiral into irrelevance.