Advertising in public places is privatizing the commons, and, taken to the extreme, is negative-sum.
Consider this billboard on a boat that ruins the view at a public beach: https://www.reddit.com/r/ABoringDystopia/comments/i939xz/thi...
Yes, there might be small positive economic benefit to the one person on the beach who actually needed the advertised product, but a huge, diffuse negative externality to everyone else.
Most public advertising is not this bad, but if you drive on the highway in a state that has banned billboards, such as Vermont, and then you cross the border into a state that allows them, you notice it, and not in a good way. We'd be collectively better off if they were banned everywhere.
Allow advertising in private spaces, but ban in public.