OMNICOM TIGHTENS TVC PRODUCTION TERMS

Could there be trouble for kiwi TVCproduction companies on the horizon? As the US economy continues totumble, Omnicom, the world’s biggest ad agency holding company -housing networks BBDO, DDB and TBWA – is acting to limit its exposureto debt by enforcing sequential liability language in production contracts that may prove overwhelming for most production companies.Their payment stance, which may be introduced in other markets outsidethe US (Omnicom backed down in the UK), will hobble production companies, say industry players, in thisreport from Creativity