|The Guardian Reveals for the First Time It Pays Rebates to Advertising Agencies
By: Business Insider
The Guardian has revealed in its annual accounts it pays rebates to advertising agencies,Campaign's Gideon Spanier first spotted.
Parent company Guardian Media Group's (GMG's) financial statements for the year ended April 3, 2016 includes a small section entitled "advertising rebates," which details how the newspaper owner pays rebates in the form of "free advertising space, cash payments, or both."
"The Group enters into agreements with advertising agencies, which are subject to a minimum spend and typically include a commitment to deliver rebates to the agency based on the level of agency spend over the contract period.
These rebates can take the form of free advertising space, cash payments or both.
The rebate provision is calculated using the forecast spend over over the contract period and the rebate entitlement set out in the trading agreement.
Calculating the required provision therefore requires an estimate of future period spend in determining what tier of spend the agencies may reach over the agreement."
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