A new ISBA / PwC study has found that only 50% of 'premium' online spend actually reaches the platforms it's supposed to be spent on. The other half goes to various intermediaries. And this is just the quality stuff. The bargain basement longtail will be much worse. Which is all before you get into the effectiveness questions around the digital that actually runs. Puts a whole new spin on the old 'half my advertising budget is wasted' quote - well now you do know which half.
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