2.3.1. For the advertisers
Without credible media information, advertisers put their media investments at risk. During the planning of an advertising campaign, there is not necessarily enough past information to make fully informed decisions.
2.3.2. For the media agencies
Media agencies are generally less accountable to their advertiser clients. Their media plans can be based on incorrect assumptions, and are subject to mistrust. Since media agencies cannot plan properly, they focus more so and rely upon media prices only.
2.3.3. For the media
The publishers’ (media) figures are continuously challenged. The more the mistrust (risk faced by advertisers and/or media agencies), the higher the discounts they will have to agree upon, to get a chunk of the media budgets.
The real losers of the lack of credible circulation figures are those publishers who do not use highly inflated figures (see the CPM example), in contrast to their competitors. The absence of an ABC (audited, credible media figures) is an open invitation for publishers to inflate circulation.
2.3.2.4. It is the publishers who pay the price
It is very clear that data which is not credible is a business risk. This risk is priced into the business actions of the market players. Eventually, the price is paid by the publishers, by accepting, or being forced to give, higher discounts.