ABSTRACT
This chapter maps the mediated marketplace—the institutional foundations of advertising—in the late twentieth century, during a critical juncture of deregulation, new technology, and corporate globalization. The first half of the chapter examines changes in media, and how they shifted advertising spending patterns. The second half of the chapter considers key changes in the structure of advertising agencies during this same period, including global expansion, advertising mega-mergers, and the dominance of several large holding companies, changing client relationships and ways of paying, and the role of advertising creativity at a time when both media buying and research garnered significant attention.
