'The new normal for ad agencies is advertisers stretching out payment terms, adding a further burden to shops dealing with lower demand for many of their services.
Advertisers asking for up to 90 days extra on top of agreed payment terms, which can range from 30-90 days, according to the 12 media execs interviewed for this article. By delaying payments, advertisers effectively borrow that money. This is a replay of what started in 2008-2009, when advertiser’s stretched payments to the point where WPP’s then-CEO Martin Sorrell complained in 2013, “We’re not a bank.”'
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The Commission has proposed today an ambitious reform of the digital space, a comprehensive set of new rules for all digital services, including social media, online market places, and other online platforms that operate in the European Union:…
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