P&G to almost double length of time it could take to pay agencies
Procter & Gamble is set to increase the time it takes to pay agencies from 45 days to 75 days, a move which is suggested could affect the industry for years ahead.
The move, which could end up seeing the same happen for different companies, will see WWP and Publicis, who both count P&G as a client, most affected, as P&G global brand building officer Marc Pritchard tells Ad Age the new policy ‘will be implemented with agencies as new contracts take effect’.
Last year, P&G unveiled its first ever global campaign with Weiden & Kennedy as part of its Olympics sponsorship.
Ad Age has also discovered that the plan is not to currently roll the scheme to media suppliers, although this could change.