August 1st, 2016 – Ebiquity and FirmDecisions today announced an alliance with international law firm Reed Smith to provide advertisers, for the first time, with a complete media agency contract management service. Reed Smith provide the appropriate best-practice legal advice and drafting; FirmDecisions ensure that contract compliance is delivered, while Ebiquity confirm whether any pricing promises in the contract have been achieved.
The alliance is in response to the growing need for advertisers worldwide to ensure their media agency contracts deliver the best possible return-on-investment. It follows the media transparency recommendations, published recently by the U.S. Association of National Advertisers (ANA) in association with Ebiquity and FirmDecisions, which stated “advertisers should ensure that contracts with their media agencies contain robust provisions to deliver full transparency” and that “as the media landscape evolves, it is critical that contract provisions be re-evaluated and upgraded.”
“This is a critical turning point for advertisers who must regain control of their media budgets and maintain governance going forward via full transparency. We listened to our clients, and responded by forming this alliance to provide them the advice and counsel required to achieve transparency and contract compliance.” Michael Karg, Ebiquity Group CEO.
“Contracts between agencies and advertisers set the ground rules for a great relationship, and unless there is suitable governance in place, that relationship will deteriorate. This alliance has been formed to protect brands and protect their agency relationships.” Stephen Broderick, CEO, FirmDecisions.
Reed Smith developed with the ANA a new media agency contract template, released alongside the ANA’s media transparency guidelines. Click here for more information.
“Advertisers must take this situation seriously. The need for a comprehensive review and concise contract has never been more compelling.” Doug Wood, Partner and Leader (Entertainment & Media Practice), Reed Smith LLP.
Founded in 1877, Reed Smith has over 1,800 lawyers around the world representing leading international businesses. Their specialist Entertainment and Media division is a preeminent adviser to advertisers worldwide.
To register your interest in one of our forthcoming seminars on media agency contracts please click on the below.
For more information about the service, please click on the below