A sign of the way the ad market is increasingly dominated by Big Tech – notably Facebook and Instagram owner Meta and YouTube owner Google – is that the two have stepped in to fund a “taskforce” looking at sustainable long term funding for the UK’s Advertising Standards Authority voluntary self-regulation system.
This, currently largely funded by agencies, is clearly under pressure, needing to deal with 59 million ads annually via its Active Ad Monitoring system. Many of these ads, of course, contribute significantly to Meta and Google’s coffers.
It will not have escaped notice that the two tech giants many blame for polluting the internet have become, in the UK at least, its temporary ad police officer paymaster.
The ASA is run by the Advertising Standards Board of Finance (ASBOF.) ASBOF chair Mark Lund, a former senior agency executive, says: “This is an industry-led effort to ensure the UK maintains its world-leading advertising self-regulatory system – one that is independent, trusted by consumers, and protects them effectively. Today’s discussion (with potential funders and other parties including government) was an important step in bringing the industry together to ensure the system continues to evolve alongside a rapidly changing market and remains fit for the future.”
