This advertisement (or image from an advertisement) is in the public domain because it was published in a collective work (such as a periodical issue) in the United States between 1929 and 1977 and without a copyright notice specific to the advertisement. Unless its author has been dead for several years, it is copyrighted in jurisdictions that do not apply the rule of the shorter term for US works, such as Canada (50 p.m.a.), Mainland China (50 p.m.a., not Hong Kong or Macao), Germany (70 p.m.a.), Mexico (100 p.m.a.), Switzerland (70 p.m.a.), and other countries with individual treaties. See this page for further explanation.
In the original Billboard issue, there is no copyright notice on either the advertisement or as part of its caption. A copyright notice is described as follows:
United States Copyright Office pages 1–2: In general, for works first published before March 1, 1989, the copyright owner was required to place an effective notice on all publicly distributed "visually perceptible" copies. A visually perceptible copy is one that can be seen or read, either directly or with the aid of a machine.
Copyright notice is a statement placed on copies or phonorecords of a work to inform the public that a copyright owner is claiming ownership of it. A notice consists of three elements that generally appear as a single continuous statement:
Uploaded a work by Kama Sutra Records / MGM Records from [https://books.google.com/books?id=BikEAAAAMBAJ&pg=PA7#v=onepage ''Billboard'']; March 5, 1966; p. 7. with UploadWizard