‘Foreign ownership won’t affect local ad industry’

The entry of foreign investors will not adversely affect local creatives employed in the advertising industry, a Senate committee hearing on economic Charter change learned yesterday.

- MARC JAYSON CAYABYAB

Ad Standards Council legal counsel Rudolph Jularbal, speaking before the Senate committee, said that as long as self-regulation remains in place foreign ownership would not be a threat to the local advertising industry.

“As long as the self-regulation regime is functional, regardless of ownership of advertising agencies, content will be regulated effectively. We have 50 years of self-regulation in the Philippines, and it has been very successful,” Jularbal said.

The entry of foreign owners in advertising does not affect job opportunities because Filipinos get hired by foreign companies the same way foreign talents also contribute to local advertising, Jularbal said.