From a recent converstaion with a business associate…
Q: Which is more profitable big pharmaceuticals or big advertising?
A: At first blush I would have said pharma but on reflection wonder whether we only think of pharma because of the press it receives. Advertising is a vast and far-flung industry from tiny local advertisers to monster international ad agencies while pharma is consolidated in a few hands. Profits for pharma are said to be large while profits for ad agencies undoubtedly vary widely. So it seems it is possible to look at the profits in two ways, either at the individual companies or across the industries as a whole. Some research should determine where the bigger profits actually lie.
So where do the following fit?