--Times Square would lose its appeal
--Media outlets would fail, thus nobody would get the news
--New businesses would never get the chance to succeed
--Old businesses would eventually fail
--The fashion industry would plummet
--People would lose the motivation to be active and "Just Do It."
--The Superbowl would be nonexistent
--Christmas shopping would become way more difficult
--People wouldn't know who to vote for during the next election
--Thousands of creatives would become unemployed and would be forced to either use their creativity in a different field or conform to more "boring" jobs.
Moral of the story: the world would crash and burn. We need advertising just as much as we need air.
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