Benzinga | Mar 29, 2021 09:04AM EDT

Primis Announces Expansion of Its Net15 Payment Initiative

Primis (a part of Universal McCann and Interpublic Group), the leading video discovery platform for global publishers today announced that it is committed to extending its Net15 payment initiative through the end of 2021. The program was designed to provide digital publishers, vendors, and business partners additional liquidity through faster payments and resolution of accounts within 15 days.



"We launched our Net15 effort during the pandemic to help support the industry and our partners who were navigating uncertain economic conditions," said Rotem Shaul, co-founder and co-CEO of Primis. "While we are optimistic about the health of the sector and are seeing growth, we feel that it is our obligation to continue to support our partners and create a market with the best possible conditions."

Primis understands that payment terms throughout the industry are continually growing and according to Oarex, 60-day terms are now common. This puts considerable strain across all areas of the supply chain and publishers often waiting months for payment.

"Even before the pandemic, payment terms within adtech were continually pushed out and it created a lot of financial strain for many publishers," said Nicole Antonelli, Senior Marketing Manager at Horoscope.com, Inc. "We would like to applaud Primis for their commitment in offering payment terms of net 15 days and supporting their publisher partners."

"We are hoping that others in the industry will follow our lead and improve payment terms," continued Shaul. "When we ease the flow of money within the industry, everyone benefits and the overall health of the industry improves."

Features of Net15:

* Help partners with favorable terms

* Settlement terms are reduced to net 15 days

* Primis publishers able to act quicker and more efficiently with cash flow

About Primis, Video Discovery

Primis is a global Video Discovery platform that increases revenue for publishers by helping their users discover high-quality video content.

Our video discovery technology is used by 100s of digital publishers, empowering 200M uniques with an engagement-based video experience that recommends video content they love, automatically skipping content they don't interact with.

Primis is owned by Universal McCann and The Interpublic Group of Companies, Inc. (NYSE:IPG) holding itself to the highest standards in digital advertising.