Everyone is talking about the effectiveness or ineffectiveness of having "This is not real" (or whatever) typed on the add, but I think the biggest impact has been overlooked.
As an advertiser, I would NOT want that on the ad. Not because I would be trying to trick the audience, but because I dont want a "competing" thought in the ad. If I am trying to get across the message "My product will make you rich/healthy/happy... whatever" I want you thinking specifically that idea after viewing the ad. Not "Hey that was a photoshopped image" It would be like me trying to sell you a vacuum, talking about it's powerful features and somebody standing next to me talking about my shoes. It's distracting. Advertising companies spend millions to get the exact message they want and everything is worked out to smallest details in ad campaigns. You think they want to throw disclaimers on top of all that?
So, I would think, many advertisers would combat this law by ensuring the images were not photoshopped..... And that would lead to more realistic images as opposed to fake images with disclaimers. (Which , based on studies would be a good thing.

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