Principal-based media buying, which includes inventory media and proprietary media, has become a key practice for large agency groups, but it remains opaque, with finance trails and pricing structures largely in the dark. 

In March this year, ISBA updated its media services framework calling out media agencies for lack of transparency and "non-compliance", which it said has been leading to "tensions" between advertisers and agencies. The IPA hit back at ISBA for suggesting "systemic malpractice" in principal-based media and painting “a misleading picture of how agencies operate”, serving "only to perpetuate the myth that agencies are acting against the interests of their clients”.

In this episode, Campaign's editorial team discuss why this topic is so controversial, shedding light on concerns that exist and the reasons that it remains so obscure. Hosted by tech editor Lucy Shelley, the chat features UK editor-in-chief Gideon Spanier, UK editor Maisie McCabe and media editor Beau Jackson.

Further reading:

Will the 'big six' become the 'big three'?

Media is key battleground for agency giants in new world order

Mark Read on WPP’s creative agencies slump, big clients spending more and four-day office mandate

Do the latest holding company results signify a shift towards media first?

The $31bn Omnicom-IPG deal has industrial logic but also many caveats

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