Industry’s ‘complacency’ left it unprepared for ACCC Digital Platforms Report: AMAA research
According to new research from the Audited Media Association of Australia (AMAA), 43% of the media, marketing and advertising industry had never even heard of the Australian Competition and Consumer Commission’s (ACCC) preliminary Digital Platforms Report, released in December 2018 ahead of last week’s final report.
The media auditing and compliance body’s survey of 498 industry executives also showed that 70% had little to no awareness of the preliminary report, despite the impact the final report could have on the industry, including a recommended inquiry into the pricing models of “opaque” media agencies. Of the 498 executives surveyed, 193 worked in media agencies, and 42% were top executives at a C-suite, general manager or managing director level.
38% were middle management, and 19% junior. A majority of the respondents were media agency execs (193) and marketers (178), with the rest of the group made up of media owners and ad tech providers.
Just 30% had read about the preliminary report or part of the report, while 25% of marketers had read articles about it, double the result of agency executives.
62% of survey respondents agreed that ‘government regulation of global digital platforms is inevitable’, despite 43% having ‘never heard’ of the preliminary report. 49% of agency respondents were in this group, 46% of which were senior executives and middle management.
Josanne Ryan, the AMAA’s CEO, noted that, given the potential consequences of the final report, released last week, the research shows a “dramatic lack of awareness”.
“We have chosen to release a snapshot of our upcoming annual Media Trust Research survey early in light of the ACCC’s releasing the final report of its Digital Platforms Inquiry due to the low level of awareness among the respondents.” Ryan said.
“The industry has now had a wake-up call and no doubt the final report will be compulsory reading given there is to be a 12-week consultation period as the government steps in to weigh up no less than 23 recommendations from the ACCC.”
Ryan said the results indicated “complacency in the industry”.
“The industry currently falls short on a cohesive approach to ensuring that industry self-regulation is robust and ensures that industry standards are consistently adhered to in digital ad trading,” she said.
“While other countries have acknowledged the issues by working towards industry frameworks for digital trading (UK, USA, Europe), our industry has not moved towards industry-wide compliance.”
Those that had heard of the ACCC’s report clearly indicated that greater transparency is needed.
A snapshot of the research results, which will be released in full in coming weeks
The research was conducted by independent research consultancy, The Insights Grill.
Brittney Rigby was Mumbrella's deputy managing editor - news and analysis. She left Mumbrella in April 2021.
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topics
ACCC
advertising industry
AMAA
Audited Media Association of Australia.
Australian Competition and Consumer Commission
Digital Platforms Report
Josanne Ryan
marketing industry
media agencies
media industry
