Top Story

e4m_logo.png

Home >> Advertising >> Article

IBF issues letter to advertisers to honour deals after several cancellations following demonetisation

17-November-2016
Font Size   16
IBF issues letter to advertisers to honour deals after several cancellations following demonetisation

Since the last one week, the only topic on everyone’s mind in India seems to be the demonetisation move by PM Narendra Modi and how it will affect the socio-political and economic scenario. While there has been no shortage of the move’s ramifications on businesses, both big and small up to now, the advertising industry in the country too is experiencing the after effects of demonetisation.

The Indian Broadcasting Foundation has now issued a letter to advertisers/advertising agencies after it has been observed that several advertisers/agencies have started sending cancellations to IBF members on existing deals, which include both short term and long term deals following the demonetisation initiative of the Government. This despite the fact that only cash transactions have been impacted and no change has been made on electronic or cheque and draft payments.

The letter states, “All payment transactions between IBF members and Advertisers/Agencies are done electronically, ?or by way of  cheque/draft payments through proper banking channels  ?and hence there is no question of cancelling confirmed deals on the pretext of demonetization.”

The IBF Board has issued a general advisory to all IBF members to inform their respective agencies/clients to maintain the sanctity of their contracts/deals, already signed between the clients/ agencies/broadcasters including, long term and short term deals?,? as well as deals confirmed by issue of Release Orders, by performing their obligation under these contracts.   

Kranti Gada joined the family business at Shemaroo in 2006 after a successful stint of over two years in marketing at Pepsi Co. She has been associated with the company for 12 years.

Exchange4media interacted with Jaspreet Chandok, Vice President and Head (Fashion) , IMG Reliance Pvt. Ltd on seamless brands integrations planned for Lakme Fashion Week, walking tall despite blazing trails like GST, demonetization and being a part of the larger cultural space

Their strategy to educate the consumers to make well informed decisions at all stages has worked out well.

Bobby Pawar, MD, CCO - South Asia, Publicis India, talks about his idea of chilling out

Understanding the round-the-clock nature of change, KG Suresh, Director General, Indian Institute of Mass Communication, in a conversation with exchange4media, talked about his plans to introduce a fu...

The mall has a diverse range of media formats that includes, billboards, backlit kiosk, pillar wraps, product/promotion display spaces etc.

The beauty of the internet business is that as your cost curve flattens, your revenue curve keeps growing up and that's why the valuations are so high, said Ashish Hemrajani, Founder-CEO, BookMyShow