The Advertising Agencies Association of India (AAAI) and the Indian Broadcasting Foundation (IBF) have signed an agreement that sets out the basis of professional and commercial relationship between their respective member groups. The 10-page document was signed by Mr Kunal Dasgupta, treasurer of IBF and Mr Ramesh Narayan, president of AAAI.
It is for the first time that two industry bodies representing TV broadcasters and advertising agencies have inked an agreement of this stature. As per the agreement, all AAAI and IBF members will get automatic benefits enshrined in the agreement. Also, AAAI members will guarantee payments to channels within a specific credit period.
With 85 agency members, AAAI contributes about 80 per cent of the advertising in the electronic media. IBF consists of 29 members, who are major broadcasters and airtime sellers in India.