Delayed payments are crushing media suppliers

Major advertisers are paying their agencies later and later. Some brands are even paying beyond 120 days. Media agencies are dealing with restricted cash flow and they are not alone. To better understand the consequences of late payments, FastPay partnered with Prodege to understand how late payments are now affecting media suppliers.

Delayed payments, are they really a big deal?

Media suppliers agree - they are.

71%

are negatively impacted when it comes to discrepancies and their ability to receive payment.

50%

listed delayed payments as a significant accounts receivable issue negatively impacting their business.

One of the biggest contributers to late payments...
checks.

1/3

of agency media payments are paid by check.1

50%

of media suppliers receive manual checks to pay for placed media.

66%

experience late payments when processing checks from media agencies.

1Forrester Opportunity Snapshot: A Custom Study Commissioned By FastPay | February 2019

Media Suppliers are attempting to fix the problem

76%

aim to improve efficiency in the invoicing process within the next 12 months.

59%

would like to increase visibility into the invoice and discrepancy process within the next 12 months.

83%

would pay a fee to receive payment earlier if it was lower than the cost of credit cards.

FastPay understands the importance of predictable payments. Which is why we launched FastPay Network, the only solution linking suppliers to agencies giving you the power to choose when and how you’re paid. Unlike factoring partners or even major banks,
FastPay Network, is built for media suppliers by media experts.

MAKE YOUR ACCOUNTS RECEIVABLE MORE PREDICTABLE NOW

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Results were collected by Prodege in a survey commissioned by FastPay with 155 media supplier respondents. Fielding was conducted 12/17/19-1/3/20.


Types of media supplier:

  • Digital Publisher32%
  • Local TV Broadcaster13%
  • Local Radio Broadcaster5%
  • Outdoor Media10%
  • Other Media Supplier8%