"The rise and drawn-out fall of the adtech sector has been, in many ways, the biggest story of the last decade. It had all the beats of a now-familiar pattern; apparent technological solutions to age-old problems, endless pipelines of venture capital lucre and a business model built on sand. As the man in charge of the biggest advertiser in the world - Procter & Gamble and its $7bn-strong marketing budget - chief brand officer Marc Pritchard came to know the details of this tale rather well."
"Pritchard himself was heavily involved in P&G's investment in this world. Having helped guide the conglomerate's digital strategy for over two decades, he'd reportedly advocated an early move into the programmatic space using the Hawkeye system - a move, it was later reported, that left the company exposed to the 'dark places' of the web."
"Speaking at the Internet Advertising Bureau's Annual Leadership Meeting in Florida, he declared: "We've come to our senses and realized there is no sustainable advantage in a complicated, non-transparent, inefficient and fraudulent media supply chain." His diagnosis of the digital advertising supply chain as "murky at best, fraudulent at worst," became a rallying point for critics of the industry and gained Procter & Gamble the moral high ground in the debate that followed."
The adtech sector experienced a rapid rise followed by a drawn-out collapse marked by opaque practices, fraud and unsustainable business models. Massive venture capital flows and large mergers kept the market buoyant through 2017 despite growing concerns about accountability and transparency. Procter & Gamble, with Marc Pritchard overseeing its $7bn marketing budget, moved early into programmatic advertising and later confronted the sector's failures. Pritchard labeled the supply chain non-transparent and fraudulent, framing industry debate and prompting greater focus on brand safety, transparency and regulatory scrutiny of digital advertising.
Read at The Drum
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