Agency of Record - Definition & Meaning
What is Agency of Record?
It is an agency which is chosen by an advertiser to drive its advertising campaigns and buy advertising space and time. This is done through negotiations between the advertiser and the agency.
For example FCB Ulka is Snapdeal’s agency of record for the last 3 years. These agencies provide new ideas to the advertisers for TVCs, Youtube campaigns, Emails etc. The agencies conduct meetings with the advertisers to come up with different advertising campaigns or simple TVCs and decide on the places, time, duration, cost of these advertisements.
The contract of the agency of record is for a fixed period during which it takes care of the advertising of these companies. They also do the necessary paperwork, deals, purchase of materials etc with the firms which telecast the ads, the websites which provide the space on Internet and any other medium which these agencies choose to advertise.
This article has been researched & authored by the Business Concepts Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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