Media Transparency – Update for Advertising Financial Management Committee
ANA recently issued its much-anticipated reports on media transparency. In June the "investigative" report from K2 Intelligence revealed that non-transparent business practices were found to be pervasive in a sample of the U.S. media ad-buying ecosystem. In July the follow-up report from ANA and Ebiquity/FirmDecisions offered recommendations to address transparency issues for advertisers and the industry overall. A key finding from K2 is that many advertisers have contracts which are deficient. To address this, ANA General Counsel, Reed Smith LLP, has developed a media agency Master Media Planning & Buying Services Agreement which can be used by advertisers in developing their own agency agreement. That covers important areas including the advertiser's right to audit as well as financial and other benefits that are allowable to be received by the media agency. This session will provide a "cliff notes" summary of the K2 report and an in-depth review of the new contract template.
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