As Advertisers Pull Back Spending, Agencies and Their Partners Feel the Pain
The spread of COVID-19 has upended brands, leaving them wondering what’s next
Every player in the industry is being impacted by the pandemic.
Fanatic Studio/Gary Waters/Getty Images
Key insights:
- The impact of COVID-19 has production partners waiting longer than usual to receive payments from brands.
- Budget cuts are forcing agencies to reevaluate payment terms with clients.
Agencies have long dealt with clients that are happy to push the limits when it comes to paying the bills.
This story first appeared in the April 13, 2020, issue of Adweek magazine. Click here to subscribe.
