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Glam Media the popular network with its reputation of being a direct publisher and an advertising network is out making more news. The current reporting has it crying over the financial crunch that burdens every other firm in the tech world and to wipe those tears it has decided to delay payments of the publishers. This occurs die to delayed payments from advertisers and turns out to be one part affecting the other. In an email to publishers, Glam media stated:
Dear Publisher,
Please be advised that to better prepare for the current financial situation, Glam anticipates a significant slow down in collection payments from advertisers. Therefore we will need to align the expected timing of payments from advertisers with the payments we make to our publishers. Accordingly, as of November 1, 2008 the revenue payments will now be scheduled on 120 day payment terms.
But to help minimize the burden on publishers as well, it has come up with some alternative for publishers in both categories, one with 60 day payment terms stating:
November Revenue: 50% will be paid in January and 50% in February
December Revenue: 50% will be paid in March and 50% will be paid in April
January Revenue: 100% will be paid in May
And for 90 day payment term:
November Revenue: 50% will be paid in February and 50% in March
December Revenue: 100 will be paid in April
January Revenue: 100% will be paid in May
[via TechCrunch]
