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Principal-Based Buying: What Every Brand Should Want To Know
A Research Partnership Between the ANA and Evergreen Trading
Not all Principal-Based Buying (PBB) models are created equal. As the term “PBB” gains traction, so do the misunderstandings—and in some cases, misuse—of what it actually entails.
In partnership with the Association of National Advertisers (ANA), Evergreen Trading conducted an in-depth study to better understand marketer perceptions of agent-based vs. principal-based media buying models.
The survey was conducted during the ANA 2025 Advertising Financial Management Conference, where the audience primarily consisted of marketing procurement, agency finance, and other industry professionals.
ANA Report Highlights
Expressed concerns when their AOR acts as both broker/agent and principal in media buying.
Of respondents cited the reasons proposed by AOR principal based buying arm was to reduce agency costs, not to solve client asset, inventory or budget problems.
Of respondents report that when agencies offer both broker/agent and principal business models, there is more “policing” work and concern for marketers.
Evergreen Trading Founder and CEO Gordon Zellner presenting the survey findings to the ANA Financial Management Summit
True Principal-Based Buying Requires Three Non-Negotiables
Real Financial Risk
The agency's own real capital is at risk (not relying on client dollars)
Independent Execution
Independent media planning so the media plan is not prepared for agency margin purposes (separation of "church and state")
Third-Party Auditability
Third-party objectivity, transparency, and audit rights
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This is information every brand should want to know. If you’re navigating PBB media buying decisions in 2025, this report will give you the clarity to ask better questions and demand more from your partners.
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Evergreen Trading is a conflict-free, client-first corporate trade agency , offering true and independent principal-based buying with auditable results.
About the Partnership
About the ANA
The ANA serves the marketing needs of 20,000 brands and consists of U.S. and international companies, including client-side marketers, nonprofits, and marketing solutions providers.
About Evergreen Trading
Evergreen Trading helps brands turn operational challenges into strategic advantage by converting non-working assets into working media. As a 100% employee-owned firm, Evergreen is 100% focused on clients with a conflict-free, client-first model.