Google and Facebook are worth a combined $2 trillion, with the vast majority of their revenue coming from advertising. In our previous episode, we learned that TV advertising is much less effective than the industry says. Is digital any better? Some say yes, some say no — and some say we’re in a full-blown digital-ad bubble. And: the endless pursuit . . .
Companies around the world spend more than half-a-trillion dollars each year on ads. The ad industry swears by its efficacy — but a massive new study tells a different story. To find out more, check out the podcasts from which this hour was drawn: “Does Advertising Actually Work? (Part 1: TV)” and “Does Advertising Actually Work? (Part 2: Digital).”
Companies around the world spend more than half-a-trillion dollars each year on ads. The ad industry swears by its efficacy — but a massive new study tells a different story.
This week on Freakonomics Radio, economists preach the gospel of “creative destruction,” whereby new industries — and jobs — replace the old ones. But in this era of technological wonder, has creative destruction become too destructive?
Season 5, Episode 20
On this week’s episode of Freakonomics Radio: Doctors, chefs, and other experts are much more likely than the rest of us to buy store-brand products. What do they know that we don’t? And if we all did like they do, how much fatter might our wallets be?
Then, imagine a fantasy world that’s exactly as the world is today except that two things are missing: alcohol and marijuana. And then imagine that tomorrow, both of them are discovered. What happens now? How are each of them used – and, perhaps more importantly, regulated? How would we weigh the relative benefits and costs of alcohol versus marijuana?
The N.F.L. is very good at making money. So why on earth doesn’t it sell ad space on the one piece of real estate that football fans can’t help but see: the players themselves? The explanation is trickier than you might think. It has to do with Peyton Manning, with Eli Manning, and with…wait for it…Tevye.
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