AIRC has told the Office of Fair Trading’s enquiry into the Consumer Credit Act 1974 that the regulations introduced in 1990 have affected radio unfairly as compared to other media.
Compulsory warnings have to be spoken at the end of all radio ads for credit, probably halving Independent Radio’s income from this kind of advertising in the past 3 years. AIRC presented research by BMRB which showed that major financial advertisers and their agencies believed the main problem with the warnings was their effect on radio because as a sound only medium the warnings were much more noticeable than in ads in all other media.
Advertisers also felt that the warnings did not work because listeners ignored them and that they should either be abolished or substantially modified for radio.
The AIRC believed that the right place for the warnings was when the transaction was actually taking place. This was ISBA’s recommendation to the enquiry.
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