Transformation of advertising & marketing industry: Statement on the value statement on the marketing and communications industry
13 November 2002
Print Media South Africa
1. PMSA has participated in the process in the hope that its experiences in driving major transformation initiatives within its own industry would be instructive and useful to the marketing and advertising industries.
2. PMSA notes the draft statement of values proposed for the advertising and marketing industries and respects the positions taken as an authentic expression of their commitment to transformation.
3. PMSA's only
observation is that the deployment of shareholder resources is determined
fundamentally by the company's concerned and the consumers they
serve. While do recognize that some newspapers described as mainstream
during these discussion, have succeeded in attracting large black
readers, but have not yet attracted a commensurate advertising spend,
any attempted corrective action would have to be based on a compelling
public interest.
4. The print media industry refers to the existing Codes of Practice
by which it is bound:
- Press Ombudsman's
Code of Practice.
- The Advertising
Standards Authority Code of Conduct.
- The preamble
to the Memorandum of Undertaking with GCIS regarding the formation
of the Media Development and Diversity Agency.
- The King
Committees Second Report on Corporate Governance.
- The provisions
of the employment equity legislation.
- The provisions of the skills development legislation.
5. Jointly, these documents frame the philosophical and legal framework within which the industry works.
6. The industry is currently concluding an agreement with GCIS whereby R30 million of shareholder money will be devoted over five years to growing small and community print media enterprises to enhance diversity within the sector and assist with the process of both transformation and empowerment. This is our concrete commitment to the core values espoused by the advertising and marketing industries.
- Print Media South Africa
