Digiday Research: 62% of publishers report late payments
Publishers are getting paid late due to the coronavirus crisis, the ensuing economic recession and the generally uncertain business climate.
A new Digiday survey found that for a quarter of publishers, payments are delayed under two weeks, while for 17%, delays are between two weeks and 30 days. For 20% of publishers, delays stretch past 30 days.
The Digiday survey also found that for 44% of publishers, late payments had created a problem for their business.
The problem isn’t a new one. Publishers (and really, many on the sell side, from freelancers to others) have complained about delayed payments and lengthening terms for years. But the current situation has made it worse. As we reported previously, payment delays have increased 20% for both publishers and media agencies.
Longer payment windows or late terms are a case of everyone trying to hold on to cash for as long as possible. As the economic situation continues to worsen, many are hoping that keeping cash longer will offer some relief. But the end isn’t exactly near. Publishers expect the second quarter to net out worse than the first, where half of publishers surveyed missed forecasts. Publishers are bracing themselves for a worse second-quarter: Only 2% have raised forecasts, 17% have kept them flat and the vast majority — 80% — have lowered forecasts.
The average publisher expects that the company’s revenue will return to pre-coronavirus levels in the first half of 2021. About 6% of publishers believe that the revenue will be permanently impacted.
Vice Media Group brings back program for small, Black-owned businesses
VMG and the National Urban League are bringing back their program offering marketing and consulting services to Black-owned businesses -- to a smaller group.
Why businesses helping employees get abortions could face legal minefield
With Roe being tossed, employers will now want to revisit their policies on travel and reimbursement for abortions, family planning consultations and healthcare coverage, warn lawyers.
Bustle’s Charlotte Owen is on a mission to turn around Elite Daily
Bustle and Elite Daily's editor-in-chief talks about the unique interviewing approach she's teaching her teams and how they're approaching TikTok without competing for views.
SponsoredFor brands, first-party data is unlocking the cookieless ecosystem
Bill Masterson, president, Publishers Clearing House Media A dominant factor guiding the industry has been that cookies and mobile app IDs are vanishing and will be replaced by some mixture of new and emergent identity solutions. As a result, the market is alive with new and exciting alternatives to replace the third-party browser cookie and […]
Media ERGs foster community among hybrid workforces
Managers at media firms are intent on fostering company culture and connection among their hybrid employees. ERGs are proving to be a valuable channel for achieving those goals.
Member ExclusiveMedia Buying Briefing: From Cannes Lions, wrestling with measurement, fraud and the ‘multiverse’
Ask 10 media buyers their most important issues at Cannes Lions, you’ll get 11 different answers. The one consistent theme expressed: happiness at being able to get together again in person to share ideas, visions, deals and frustrations.