INS asks ad agencies not to divert print revenues to radio and TV
With print media taking a severe hit and newspaper operations halted amidst the Covid-19 crisis, the Indian Newspaper Society (INS) has sent out a circular to all the ad agencies regarding ad revenues.
The payment due against Monthly Review Verification (MRV/01-2020) is due now and there is apprehension that ad agencies are diverting print’s revenue to Radio and TV. The INS, in its circular, cautioned the ad agencies that “payments received against Print bills should be paid to Publications and not diverted to other media like Radio and TV”.
With print media bearing the brunt of the ongoing country-wide lockdown, Radio and TV have reportedly upped their ad rates. There appears to be pressure on agencies to divert Print’s local retail ads to Radio and all the print budget of the corporate account is reportedly being diverted to TV.
INS has asked all ad agencies to upload MRV/01-2020 details as per practice, that is, from April 11 to 15, 2020. “Please note that whatever payments are made, should be paid to all Publications on pro rata basis against all bills,” INS stated.
The print industry body further said, “The Monthly Review Verification (MRV) process will be undertaken keeping in mind the prevailing situation due to the Coronavirus pandemic.”