DSP advertising, which has been the cornerstone of Irish television, has seen a massive drop in advertising revenue.
The company has been fined €50 million over advertising fraud in the past year, with the majority of the fine being handed down to the DSP Advertising Board, which was established by the Communications Minister to investigate advertising fraud.
In a statement to The Irish Independent, DSP said the company had made significant progress in the last year in terms of its investigations, which had resulted in the majority being resolved in early 2018.
It said the majority had been resolved through the mediation process, and that in terms on-air promotions it was possible to return to advertising after the end of 2019.
It also said it would continue to explore other opportunities for advertising, including in the digital space.
The corporation said it was confident in the future of the company and the advertising industry, adding that it would work closely with the Communications Authority (CA) in the coming years to ensure the right practices are adhered to.
The spokesperson added: “The advertising industry has suffered hugely from the actions of the DWP.
The advertising industry is facing a challenging and complex economic environment and the future will be decided by a number of factors, including the political decisions made by the next Government. “
We are working with the CA to ensure a smooth transition for the industry.
It is a very small group of people that is doing something that is right for the consumer.” “
The business case for advertising is not one where the majority will be successful.
It is a very small group of people that is doing something that is right for the consumer.”
A spokesperson for the CA said the agency was working with DSP to explore all options to protect the public and the environment.