Global advertising body reels out principles to eliminate unfair practices
By Zion Rufus
Owing to the need to foster healthy practices and the maintenance of a vibrant, and competitive global ad industry, global association of advertisers, media practitioners and agencies, International Advertising Association(IAA) has reeled out six new principles to protect consumers and the advertising ecosystem.
According to the IAA, creating a smarter regulatory environment that fosters a vibrant, dynamic, and competitive marketplace will provide great benefits to both industry and consumers.
The principles state:
Don’t enact legislation that creates an uneven playing field
Ensure that legislation doesn’t arbitrarily favour certain companies over others. When you create an uneven playing field, you risk not only distorting competition, but harming consumers.
Preserve the global economic engine supported by the advertising industry
The advertising industry contributes a significant number of jobs and supports economic growth around the world. Regulators and governments should carefully consider any legislation, or other rules, which may potentially adversely impact this thriving ecosystem or the communities that depend on it.
Legislation should focus on maximizing the welfare of consumers
It is essential to protect consumers, the freedom of consumers to make choices, and the products and services that fuel the communications ecosystem, including an open internet. Digital tools and content supported by advertising serve as a lifeline for people around the world.
Promote competition without unnecessarily negatively impacting large segments of the industry, including small and medium-sized businesses
Any legislation should carefully weigh the interests of all advertising industry stakeholders to ensure that the legislation will truly provide a benefit, that real harms are being addressed, and that the legislation does not unintentionally create a negative impact on large segments of the industry.
Proceed cautiously when considering legislation that increases complexity and cost for the advertising industry
Integrated and seamless advertising products are an essential part of the value proposition for advertisers, publishers, and advertising agencies. Competition legislation should focus on maximizing the benefit to the advertising ecosystem, which in turn, can help to maximize utility and choice for consumers.
Avoid legislation that has the impact of breaking up or punishing companies simply because they are big or successful
While the government should work to address demonstrated harms, and to protect and preserve competition, it should not be in the business of picking winners and losers. This is the role of the market, as driven by consumers.
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