US ad industry boss warns Australia may need its own study on value banks

June 8, 2016 10:27

The man who commissioned the controversial K2 transparency report has warned Australia may want to consider running the magnifying glass over its media agencies, after ex-FBI investigators found media rebates, credits and value bank practices were “pervasive” in the United States.

Liodice: the report is likely to be a global conversation around transparency.

Liodice: marketers around the world should be looking at lessons from K2 report.

Overnight the ANA, the US advertiser association, released a highly anticipated report which claimed the industry faces “systemic non-transparent business practices” in terms of media owners providing “kick backs” to agencies and accusing top media agency executives aware of and in some instances mandating them.

Both the Australian Association of National Advertisers and Media Federation of Australia have pledged to review the report’s findings.

Nic Christensen

Nic Christensen worked for Mumbrella from 2013 to 2016, in roles including deputy editor and media & technology editor. He is former media writer for The Australian and has also worked as a reporter for The Daily Telegraph and senior producer for Radio 2GB.

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