This week’s #MediaSnack has a back to school flavour as Tom and David review some of the key stories from the summer.
First they discuss the news that global drinks giant Diageo has retained Dentsu Aegis as its long-standing media partner. With pitch activity less frenetic than in 2015, this has been a good summer to call a pitch with brands getting more attention from agencies hungry to grow billings.
Next, Tom and David discuss new US research, which highlights the huge churn in the CMO role. Half the major retail advertisers in the US have changed their CMO in the last year and more than 60 per cent of them found replacements outside their company. They argue that this level of churn indicates broad dissatisfaction with CMOs at a time when the role of a CMO has changed but companies are not able to describe what they need.
Finally, Tom and David look into the accounts of the Guardian Media Group. The publisher has made provision in its accounting to pay incentives to media agencies. It’s another example, the Daily Mail has admitted it puts aside £27m ($40m) each year, of how media agencies can generate income and benefit from committing advertiser spend. Marketers should welcome the transparency and we look forward to many more publishers making public statements on their financial arrangements for paying incentives and rebates to media agencies.