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Omar Oakes and columnist Nick Manning have a wide-ranging conversation about the recent ANA report into media agency reselling ("principal-based media"), where media agencies buy media at one price and resell it to clients at an undisclosed higher price – and why it's important.
This is an epic conversation that delves into why advertising is no longer well-integrated with content, why there is a talent drain from the industry, why it may be "inevitable" that major ad agency groups are broken up and what Nick is planning through the 'Who Cares" movement with Brian Jacobs.
Highlights:
3:18: What's so bad with principal-based media?
8:16: Why do media agencies do this?
19:07: What should be the auditor's role in all this?
36:12: What PM shows about the state of the ad industry
41:08: Impact on media owners
44:53: The demise of a "curated" advertising experience and Omar's epiphany
52:17: The impact on content creation and why we're bombarded with 1990s rehashes
63:38: The 'Who Cares" movement and what it wants to achieve
61:11: Do we need greater regulation to make advertising and media function better?
64:48: Should the major ad agency groups be broken up?
Useful links:
ANA calls for contracts and auditing shakeup over principal media ‘conflicts of interest’
Nick Manning: Why principal-based media is bad for the whole industry
Nick Manning: Who cares wins: The antidote to 'badvertising'
Omar Oakes: Squeamish about advertising? Get over it
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