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Lazaro Gamio / Axios

Some of the world's biggest advertising spenders are fed up with the digital supply chain and are yanking digital dollars from ad campaigns to put them towards TV.

Sound backwards? Not if you ask marketing execs who say they're fed up with losing millions of dollars a year to ad tech vendors, digital ad fraud and transparency problems.

Marc Pritchard, Chief Brand Officer of Procter & Gamble — the world's largest ad spender — tells Axios that some of his biggest brands, like Tide laundry detergent, have seen better performance results in market tests on TV than digital.

  • "The major issues in digital is that the supply chain still has way too many touch points in it and it lacks transparency," says Pritchard.
  • In January, Pritchard threatened to boycott spending with the digital ad behemoths (Google, Facebook, major ad networks etc.) unless they worked to make the system more transparent. He now says the ecosystem is about 40% of the way there, largely thanks to the pressure major advertisers (P&G, Unilever, etc.) are putting on the system.
  • Pritchard says radio and out of home (billboard) marketing have also been showing increasingly positive results.
  • The majority dollars don't even make it to publishers:Citing industry studies, Prichard says that only 40% of dollars reach publishers after payouts to ad tech vendors, and up to another 25% of dollars could be wasted on ad fraud and problems with ad viewability (ads not loading right or ads that aren't actually viewed by humans).

See it for yourself: The Interactive Advertising Bureau created a programmatic fee calculator for marketers to calculate how much money they lose in the automated digital ad supply chain. Check it out.

Go deeper

Felix Salmon, author of Capital
17 mins ago - Economy & Business

The places regulation does not reach

Illustration: Aïda Amer/Axios

Financial regulation is not exactly simple anywhere in the world. But one country stands out for the sheer amount of complexity and confusion in its regulatory regime — the U.S.

Why it matters: Important companies fall through the cracks, largely unregulated, while others contend with a vast array of regulatory bodies, none of which are remotely predictable.

Trump nominee Christopher Waller confirmed to Fed board

Christopher Waller at a Senate Banking hearing earlier this year. (Photo: Sarah Silbiger/Getty Images)

The Senate voted 48-47 on Thursday to confirm Trump nominee Christopher Waller to the Federal Reserve Board of Governors — filling one of the two vacant slots on the influential economic body.

Why it matters: It's one of the last marks left on the Fed board by Trump, who has nominated five of its six members.

1 hour ago - Economy & Business

Boeing gets huge 737 Max order from Ryanair, boosting hope for quick rebound

Ryanair low cost airline Boeing 737-800 aircraft as seen over the runway. Photo by Nik Oiko/SOPA Images/LightRocket via Getty Images

Dublin-based Ryanair said it would add 75 more planes to an existing order for Boeing's 737 Max airplanes, a giant vote of confidence as Boeing seeks to revive sales of its best-selling plane after a 20-month safety ban following two fatal crashes.

The big picture: Ryanair's big order, on the heels of breakthrough vaccine news, is also a promising sign that the devastated airline industry might recover from the global pandemic sooner than expected.

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