ABANDONING MADISON AVENUE - THE RELOCATION OF ADVERTISING SERVICES INNEW-YORK-CITY

This paper contributes to the literature on global cities by exploring the locational dynamics of advertising agencies in New York City. Lik e other cultural products industries, advertising agencies occupy dens e agglomeration complexes and engage in multiple relationships of exch ange with other industries. However, while historically concentrated a round Madison Avenue, there have been significant changes in the locat ion of advertising services in the 1980s and 1990s. Shifts in the geog raphy of advertising are tied to a number of factors, including the tr ansnationalization of agencies, which. has led to financial pressures and a desire to cut real estate costs. The globalization of agencies h as also fueled the need for improved access to telecommunication techn ologies. This has motivated agencies to abandon older buildings in sea rch of newer real estate developments. Finally, the increased demand f or creativity has been central to changes in the spatiality of adverti sing. Locational shifts have not diminished the importance of place, h owever. Centripetal forces continue to keep advertising firms clustere d in dense spaces.