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:
    1. Press Ombudsman's Code of Practice.
    2. The Advertising Standards Authority Code of Conduct.
    3. The preamble to the Memorandum of Undertaking with GCIS regarding the formation of the Media Development and Diversity Agency.
    4. The King Committees Second Report on Corporate Governance.
    5. The provisions of the employment equity legislation.
    6. 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