New Media Offers, Opportunities & News
Social media platforms ‘should have to verify ads’, says banking federation
From Irish Independent
There should be a requirement on social media platforms to verify ads for financial products before posting them online, as a way of combatting fraud, according to Banking & Payments Federation Ireland (BPFI).
Before accepting an ad, the platforms should have to check with national authorities that the company involved is authorised to provide the financial product or service being offered, the federation says.
Companies who don’t complete the verification process should not be allowed to show ads for financial services.
“This advertising verification process was recently introduced by Google here in Ireland, something it also has in place in a number of other countries,” a spokeswoman for the representative group said. “We see this a hugely positive initiative in terms of addressing fraud, particularly investment fraud, and are strongly advocating that it should be incorporated as a requirement into the Payment Services Regulation (PSR).”
The European Commission is proposing to turn elements of the Payment Services Directive into a regulation. In a position paper responding to the proposal, BPFI says the underlying reasons for fraud will not be addressed if the focus is only on banks having to reimburse victims.
“By incorporating near-automatic liability requirements into the regulation, this has the potential of reducing customers awareness of fraud attempts, while introducing significant moral hazard into the financial system – especially if the types of fraud under consideration go beyond bank impersonation,” BPFI’s paper says.
“At the same time, it could lead to an increase in ‘friendly fraud’ where the customer claims to be exposed to fraud, but in reality, is in collusion with the fraudster.
“This can in turn lead to an increased exploitation of young people and other vulnerable customers for the purpose of money laundering.”
Making the case that online platforms need to be held more responsible, the BPFI says the experience of its members – which include AIB, Bank of Ireland and PTSB – is that most payment fraud originates on social media, yet is often not acted on.
If there was a clear mandate requiring online platforms to only publish ads for financial products and services regulated by a national authority, it would “greatly assist in fraud prevention”, BPFI argues.
Recent research commissioned by Bank of Ireland from Red C found that one third of those surveyed said they had been targeted by a fraudulent advert on a social media platform. Asked to identify the platform, 65pc said Facebook, 28pc said Instagram, with X at 13pc and TikTok at 11pc.
Almost one in two adults had seen ads for investments or crypto on a social media platform featuring a well-known personality. The impersonation of celebrities is a tactic regularly used in fraudulent ads to trick consumers into buying fake products.
The bankers’ federation says its members have experienced difficulty with getting ads not related to their own brand taken off social media sites. They say incentives for online platforms and telecoms companies to collaborate in tackling fraud are reduced if the full financial burden of compensating victims is carried by banks.
“While it is welcome that the draft PSR puts forward the proposal that other parties within the fraud chain should ‘cooperate closely’ in the prevention of fraud, without specific requirements on these sectors – especially in the absence of liability – it will be challenging to establish a well-functioning cross industry collaborative approach,” their paper says.
The federation says that policymakers could explore creating a levy which electronic communication providers would be subject to, based on a “polluter pays principle”.
Christmas Poster Deadlines…..
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Stoney to leave IAPI for European role
From Marketing:
Charley Stoney has resigned as chief executive of the Institute of Advertising Practitioners in Ireland (IAPI) to become CEO of the European Association of Communications Agencies (EACA). Stoney will advocate at EU level on behalf of EACA member agencies, promote best and fair business practice, and ensure that the association remains relevant and beneficial to all stakeholders. She has chaired EACA’s national associations council since 2022.
During that time, she has been instrumental in shaping the strategic agenda for the representative body. She will assume her new position in February next year, following the departure of the current CEO, Tamara Daltroff, who has been responsible for the expansion of the association over the past six years. IAPI has begun the recruitment process to appoint a new CEO for 2025, the details of which are published online at iapi.ie/CEOrole
Since taking on the role of IAPI chief executive in 2018, she has helped transform the association into the leading voice for advertising agencies in Ireland, almost doubling its membership. She replaced Adfx with the global marketing effectiveness awards programme, Effies, in 2021. She drove the support of Ad Net Zero across the industry, resulting in Ireland becoming the first country outside the UK to adopt the programme.
Equality
This year, she spearheaded the promotion of the Irish creative sector at Cannes Lions, including securing the first Enterprise Ireland trade mission to the festival. A passionate advocate for equality, she introduced the Female Futures Fund, a leadership programme for high potential female talent. During her tenure, the equality at leadership level in the industry has radically improved, with a significant 41 per cent of agency C suit being female.
On Stoney’s move, Abi Moran, IAPI president and CEO of of Folk VML, said that while Stoney’s move in the immediate sense was a great loss for IAPI, her appointment was a recognition of the growing strength and prowess of the Irish advertising industry globally, and the entire board couldn’t be prouder. “Charley has been a truly extraordinary leader, steering IAPI with unwavering passion, warmth, and dedication,” Moran added.
Advocate
“Her vision has elevated strategic leadership and innovation across the industry, establishing Ireland as a globally respected hub for commercial creativity. She has been a tireless advocate for responsible business practices, diversity, and inclusion, giving our industry a stronger and more influential voice at every level. Charley’s impact has been profound, and her legacy will continue to shape our path forward.”
Before taking on the job as chief executive at IAPI, Stoney was group managing director of Alternatives for four years. She also headed up FMI, the field management agency, and was managing director of the McConnells Fusion below the line agency for four years. She served on the boards of CopyClear and the Advertising Standards Authority since 2018.
New world leading research from Radiocentre Ireland shows that audio has a significant effect on bringing brands to mind when people are ready to buy.
From RadioCentre;
At Radiocentre Ireland’s recent Sounding Out 2024 event, research company Differentology released a study, commissioned by Radiocentre Ireland which focused on how audio can play a critical role in strategic brand growth objectives. The research sought to understand whether audio can drive brand growth by increasing a brand’s mental availability. The research study leaned on the framework for brand growth that Byron Sharp details in “How Brands Grow”.
The results showed that for a range of brands, they had a 12% greater share of mind amongst people exposed to their audio visual advertising; and this rose a further 10% when people were exposed to the combination of audio visual and audio advertising for these brands. The fact that share of mind was so much higher for those exposed to the combination of audio visual and audio advertising, highlights the impact of including audio in the mix.
Audio advertising has a significant effect on helping brands spring to mind more readily in purchasing situations, with mental penetration for a brand higher amongst those who have heard advertising for it. It therefore expands a brand’s network of mental associations and ultimately it increases share of mind for that brand. You can read a summary of the presentation, watch the presentation in full and download the presentation deck by clicking on the link below.
https://www.radiocentreireland.ie/sounding-out/using-audio-advertising-to-expand-your-brand
Gambling advertising and sponsorship to be restricted as landmark legislation passed.
From Irish Times
Bill is first significant reform of sector, estimated to be worth between €6bn and €9bn annually, since 1956
Landmark legislation to regulate gambling has finally been passed by the Oireachtas after 17 years of planning and the involvement of six successive ministers in trying to progress it.
The Gambling Regulation Bill, championed since 2020 by Minister of State James Browne is the first comprehensive legislation to regulate the gambling industry since 1956, in a sector that is estimated to be worth between €6 billion and €8 billion annually.
Published in 2022, the Bill confirms the establishment of a seven-member Gambling Regulatory Authority with its chief executive designate, Anne Marie Caulfied, already in place. The regulator will have strong powers on mandatory licensing and in setting down conditions for licences.
Its remit will also cover advertising, sponsorship, protecting problem gamblers, and ensuring children are not exposed in any way to the industry. The Bill introduces a social impact fund, paid for by the industry to support educational measures and problem gambling treatment activities.
It prohibits related advertising from 5.30am to 9pm and provides for prison sentences of up to eight years on those who fail to protect children from gambling.
Mr Browne told the Dáil on Wednesday night that “an extraordinary amount of work has gone into an extremely complex piece of legislation”. He said the Bill “will not simply regulate a massive industry that has largely gone unregulated but coming from a public health perspective, ensures that the relevant sections to protect the public” are in place.
He added that there are strong provisions in the Act, which will allow the regulator to make recommendations to the Minister “to change regulations to move as the industry moves and changes in how they may target people”.
The legislation moved back to the Dáil last night after the Minister introduced amendments in the Seanad to address the potential impact on charities and sports clubs advertising fundraisers, following extensive lobbying by representatives of the groups.
Inducements such as “free bets”, VIP treatment, free credit and free hospitality are all banned under the legislation. Adults will have to actively opt in to receive betting advertisements online and the legislation also provides for a ban on social media advertising.
Sinn Féin finance spokesman Pearse Doherty warned however that there was a significant loophole in the legislation where companies could have competitions whether for “10 Oasis tickets and two nights in Dublin” or for a new car or even a new house.
He said that “as long as you have opted in and they have your mobile phone number they can advertise as much as they want” through text messaging.
But the Minister said there is a dedicated section in the legislation on advertising and if anybody is in a situation where they have consented to be included “they would always be able to draw consent at any time”.
On black market operators, the Bill “contains a suite of measures to address illegal or criminal gambling activity and includes explicit prohibitions on illegal activity or practices, some of which could result in significant custodial sentences”.
The gambling regulator will receive €9.1 million in 2025.
The Minister said: “I am conscious that many people have strong views on the issue of gambling, and I believe that this Bill is designed to meet the challenges of gambling responsibly in 21st century Ireland.
“The Bill takes a responsible approach to balancing the freedom to gamble with the safeguards to protect people from falling prey to addiction. This Bill provides a clear framework for operators and for consumers.”
The legislation now goes to President Michael D Higgins for consideration and signing into law.
Sky Media signs Irish advertising deal with Hearst
From Marketing
Hearst Networks UK has extended its partnership with Sky Media, Sky’s commercial arm, by rolling out local advertising for Sky History, Crime + Investigation, and Blaze in Ireland. Sky Media Ireland will handle Hearst ad sales in the local market. Malcolm Murray, sales director at Sky Media Ireland, said the deal with Hearst offers Irish advertisers a broader range of opportunities with the roll out of top factual and entertainment brands.
The line-up of content coming up for Irish viewers includes Great Escapes with Morgan Freeman, Holy Marvels starring Dennis Quaid and Invasion: The Normans for Sky History; Who Murdered You Mum?, and Killed Without a Trace for Crime + Investigation; and UFOs: The Lost Evidence S2 and Ross Kemp: Deep Seat Treasure Hunter for Blaze.
Sky Media is the advertising sales arm of Sky, reaching over 90 per cent of the Irish population. Sky Media Ireland represents all of Sky’s channels and sites, including Sky Showcase, Sky Witness, Sky Atlantic, Sky News, Sky Sports, Challenge and Sky.com websites. In addition, Sky Media Ireland sell on behalf of their media partners which include AMC Networks, Hearst Networks, Paramount, Narrative, UKTV and Warner Bros Discovery.
The Traitors on RTE. Ironically. Sponsorship 600k anyone?
The news is finally out The Traitors is coming to RTÉ in 2025 and we are very excited to finally share the Sponsorship Package (see attached). There will be an opportunity to package the Broadcast Sponsorship with the 2 x Product Placements, or individual packages.
Guide prices below
Main Show Sponsorship €600,000
Car PP €150,000
Supermarket Partner €100,000
( Deluxe Own Brand Products )
RTÉ announces Irish edition of hit TV show The Traitors (rte.ie)
Kite Entertainment have received thousands of applications already.
This package is being shared directly with our agency partners today, please feel free to share with your wider teams.
CHRISTMAS DAY ON RTÉ TV
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