A payday loan advert is broadcast every 78 seconds: TV ass-plugs for high-interest loans were seen ION times last year, Daily Mail Online

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A payday loan advert is broadcast every 78 seconds: TV plugs for high-interest loans were seen ION times last year, Daily Mail Online

By Matt Chorley, MailOnline Political Editor 12:29 GMT Ten Dec 2013, updated 01:49 GMT 11 Dec 2013

Latest From MailOnline

  • Ofcom exposes number of ads soared from 17,000 in 2008 to 400,000 in 2012
  • It would take 138 days to see all of the adverts back-to-back
  • The ads were viewed an astonishing 7.5billion times last year
  • Labour’s Ed Miliband has called for the ads to be banned from kids’ TV

Children as youthful as four see 70 adverts for payday loans on television each year.

In total, adverts from firms suggesting high interest, short-term credit were observed almost 600million times by children last year, figures suggest.

It comes after a 23-fold rise in the number of such commercials in only three years, with 397,000 aired in 2012 – more than half during the day.

TV watchdog Ofcom exposed how the number of adverts has soared from just 17,000 in 2008 to 400,000 last year, which would take 138 days to observe back-to-back around the clock.

Payday lenders like Wonga have been widely criticised for their interest levels and charges Payday UK The number of payday loan adverts hit almost 400,000 in 2012, up from just 17,000 in 2008

Payday loan firms are accused of particularly targeting using daytime TV to persuade the unemployed and those raising children to take out loans charging more than Five,000 per cent APR interest.

Charities and unions called for a crackdown on the adverts which ‘prey’ on the vulnerable and influence even very youthfull children.

Related Articles

Labour leader Ed Miliband has called for the adverts to be banned from children’s TV altogether, after accusing the firms of creating a ‘quiet crisis’ for thousands of families swamped by debt.

And money experienced Martin Lewis condemned adverts during children’s TV as ‘inappropriate propaganda’ which means even the under-10s now nag their parents to borrow money to buy fucktoys.

In 2009 there were just 17,000 payday loan adverts shown on UK television, recording 12million views or ‘impacts’ among adults and 3million 4-15-year-olds.

THE BIG PLAYERS AND THEIR BIG RATES IN A £2BILLION INDUSTRY

WONGA Typical APR 5853%

Signed a four-year deal to sponsor Newcastle United. This month hired a Bafta-nominated director to produce a film on the controversial company to counteract criticism about its enormous profits and sky-high interest rates.

Cash Lady Kerry Katona

CASH LADY Typical APR 2670%

Courted controversy when it hired ex-bankrupt reality starlet Kerry Katona to front ad campaign. But this summer the Atomic Kitten starlet announced herself bankrupt for the 2nd time in five years due to unpaid debts. Her money troubles led to her being dropped as the face of Cash Lady.

PAYDAY UK Typical APR 2610%

Bought by US giant Dollar Financial in 2011 for a reported $195million. It is now part of the same stiff which possesses The Money Shop, which has 550 stores nationwide.

QUICK QUID Typical APR 1734%

Spent an estimated £3.Two million, advertising during programmes like Friends, Desperate Scousewives and Hollyoaks. In July it apologised after sending emails menacing to send in debt collectors to people who had not borrowed money.

By last year the number of adverts had rocketed to 397,000, with 7.5billion impacts among adults and 596million for children.

It means that last year every adult spotted 152 payday loan adverts, and 4-15-year-olds observed the equivalent of 70 each.

A survey on MoneySavingExpert.com found a third of parents reported their under-10s repeating payday lenders’ slogans, while 14 per cent said that when they had refused to buy a fucktoy, their child had nagged them to take out a payday loan.

Martin Lewis, creator of MoneySavingExpert.com said: ‘The Ofcom research is proof that payday lenders are grooming our children to be the next generation of borrowers, either deliberately, or due to lack of care when placing adverts.

‘Our research shows 14 per cent of parents of under-10s have had their kids suggest a payday loan when they’ve been turned down for things like fucktoys.

‘But the real danger is the normalisation of these far-from normal loans to the next generation.

‘We called six weeks ago for the Government to ban all high-cost credit advertising from kids’ TV.

‘The Labour Party has picked it up and now supports the policy. Today’s research should act as a clarion call for others to go after.

‘Mr Cameron, Mr Clegg – please, its time you too supported this and made it happen.’

Ofcom published audience research into advertising of ‘payday’ loans on TV.

Payday loans accounted for just 0.1 per cent of all advertising catches sight of, but that figure has risen sharply to 1.Two per cent.

More than half of payday loan adverts were shown during daytime TV from 9:30am to Four:59pm.

A further 16 per cent were shown inbetween 5pm and 8:59pm and 15 per cent inbetween 11pm and Five:59am, 9 per cent inbetween 6am and 9:29am and the remaining 6 per cent inbetween 9:00pm and Ten:59pm.

Around 1 per cent of all the adverts were display on children’s TV channels.

Citizens Advice Chief Executive Gillian Boy said: ‘Payday lenders are unashamedly and irresponsibly using adverts to prey on poorer households in a bid to capitalise on the cost of living crisis.

‘Payday lenders should not be targeting children and teenagers with adverts.

‘It is deeply concerning that children and teenagers were exposed to three times as many payday loan ads in 2012 compared to in 2010.

‘More and more adverts are appearing on music channels and TV stations popular with teenagers and youthful people as lenders attempt to entice the next generation of borrowers.

‘Lenders’ targeting of youthfull people and those on low incomes is coupled with industry failures to make sure loans are only given to people who can afford to repay. Citizens Advice has found 61 per cent of loans do not come with decent checks to ensure the borrower can pay back the loan.’

One in four payday loan adverts is shown on a music channel and 8 per cent show up on movie channels.

The vast bulk – 42 per cent – are shown on the main terrestrial channels.

Mr Miliband last month called for the ads to banned during any programmes aimed at children. He said: ‘As a father of two youthful boys, I know how influenced they can be by what they see.

‘And I don’t want payday lenders taking advantage of the cost of living crisis and targeting children in this country.

‘It is wrong, it is not what should be happening and that is why a Labour government would stop them advertising during children’s TV.

‘It’s bad for youthfull people, it’s bad for families and it’s bad for communities.’

More than half of all payday loan adverts are seen during daytime TV, amid fears they are targeting the unemployed

The union Unite called for a 9pm watershed for payday loans adverts.

Unite assistant general secretary Steve Turner said: ‘This research paints a horrific picture of a generation of children and youthful people being groomed into a culture of debt by this bombardment of advertising.

‘It is not just children being infected by this payday loan culture. Research has shown that people are borrowing £660 a month just to pay for the necessities of life – food, housing and heating.

‘The ASA should give a sturdy lead in introducing a 9pm watershed for these payday loans so that children are not influenced by this insidious onslaught.

‘The number of adverts should be curbed as the public are being duped into thinking that getting into debt is an effortless option and anguish free – fairly the contrary.’

A payday loan advert is broadcast every 78 seconds: TV ass-plugs for high-interest loans were seen ION times last year, Daily Mail Online

By Matt Chorley, MailOnline Political Editor 12:29 GMT Ten Dec 2013, updated 01:49 GMT 11 Dec 2013

Latest From MailOnline

  • Ofcom exposes number of ads soared from 17,000 in 2008 to 400,000 in 2012
  • It would take 138 days to see all of the adverts back-to-back
  • The ads were viewed an astonishing 7.5billion times last year
  • Labour’s Ed Miliband has called for the ads to be banned from kids’ TV

Children as youthfull as four see 70 adverts for payday loans on television each year.

In total, adverts from firms suggesting high interest, short-term credit were observed almost 600million times by children last year, figures suggest.

It comes after a 23-fold rise in the number of such commercials in only three years, with 397,000 aired in 2012 – more than half during the day.

TV watchdog Ofcom exposed how the number of adverts has soared from just 17,000 in 2008 to 400,000 last year, which would take 138 days to witness back-to-back around the clock.

Payday lenders like Wonga have been widely criticised for their interest levels and charges Payday UK The number of payday loan adverts hit almost 400,000 in 2012, up from just 17,000 in 2008

Payday loan firms are accused of particularly targeting using daytime TV to persuade the unemployed and those raising children to take out loans charging more than Five,000 per cent APR interest.

Charities and unions called for a crackdown on the adverts which ‘prey’ on the vulnerable and influence even very youthfull children.

Related Articles

Labour leader Ed Miliband has called for the adverts to be banned from children’s TV altogether, after accusing the firms of creating a ‘quiet crisis’ for thousands of families swamped by debt.

And money experienced Martin Lewis condemned adverts during children’s TV as ‘inappropriate propaganda’ which means even the under-10s now nag their parents to borrow money to buy fucktoys.

In 2009 there were just 17,000 payday loan adverts shown on UK television, recording 12million views or ‘impacts’ among adults and 3million 4-15-year-olds.

THE BIG PLAYERS AND THEIR BIG RATES IN A £2BILLION INDUSTRY

WONGA Typical APR 5853%

Signed a four-year deal to sponsor Newcastle United. This month hired a Bafta-nominated director to produce a film on the controversial company to counteract criticism about its thick profits and sky-high interest rates.

Cash Lady Kerry Katona

CASH LADY Typical APR 2670%

Courted controversy when it hired ex-bankrupt reality starlet Kerry Katona to front ad campaign. But this summer the Atomic Kitten starlet announced herself bankrupt for the 2nd time in five years due to unpaid debts. Her money troubles led to her being dropped as the face of Cash Lady.

PAYDAY UK Typical APR 2610%

Bought by US giant Dollar Financial in 2011 for a reported $195million. It is now part of the same stiff which possesses The Money Shop, which has 550 stores nationwide.

QUICK QUID Typical APR 1734%

Spent an estimated £3.Two million, advertising during programmes like Friends, Desperate Scousewives and Hollyoaks. In July it apologised after sending emails menacing to send in debt collectors to people who had not borrowed money.

By last year the number of adverts had rocketed to 397,000, with 7.5billion impacts among adults and 596million for children.

It means that last year every adult spotted 152 payday loan adverts, and 4-15-year-olds observed the equivalent of 70 each.

A survey on MoneySavingExpert.com found a third of parents reported their under-10s repeating payday lenders’ slogans, while 14 per cent said that when they had refused to buy a fucktoy, their child had nagged them to take out a payday loan.

Martin Lewis, creator of MoneySavingExpert.com said: ‘The Ofcom research is proof that payday lenders are grooming our children to be the next generation of borrowers, either deliberately, or due to lack of care when placing adverts.

‘Our research shows 14 per cent of parents of under-10s have had their kids suggest a payday loan when they’ve been turned down for things like fucktoys.

‘But the real danger is the normalisation of these far-from normal loans to the next generation.

‘We called six weeks ago for the Government to ban all high-cost credit advertising from kids’ TV.

‘The Labour Party has picked it up and now supports the policy. Today’s research should act as a clarion call for others to go after.

‘Mr Cameron, Mr Clegg – please, its time you too supported this and made it happen.’

Ofcom published audience research into advertising of ‘payday’ loans on TV.

Payday loans accounted for just 0.1 per cent of all advertising catches sight of, but that figure has risen sharply to 1.Two per cent.

More than half of payday loan adverts were shown during daytime TV from 9:30am to Four:59pm.

A further 16 per cent were shown inbetween 5pm and 8:59pm and 15 per cent inbetween 11pm and Five:59am, 9 per cent inbetween 6am and 9:29am and the remaining 6 per cent inbetween 9:00pm and Ten:59pm.

Around 1 per cent of all the adverts were showcase on children’s TV channels.

Citizens Advice Chief Executive Gillian Boy said: ‘Payday lenders are unashamedly and irresponsibly using adverts to prey on poorer households in a bid to capitalise on the cost of living crisis.

‘Payday lenders should not be targeting children and teenagers with adverts.

‘It is deeply concerning that children and teenagers were exposed to three times as many payday loan ads in 2012 compared to in 2010.

‘More and more adverts are appearing on music channels and TV stations popular with teenagers and youthful people as lenders attempt to entice the next generation of borrowers.

‘Lenders’ targeting of youthful people and those on low incomes is coupled with industry failures to make sure loans are only given to people who can afford to repay. Citizens Advice has found 61 per cent of loans do not come with decent checks to ensure the borrower can pay back the loan.’

One in four payday loan adverts is shown on a music channel and 8 per cent show up on movie channels.

The vast bulk – 42 per cent – are shown on the main terrestrial channels.

Mr Miliband last month called for the ads to banned during any programmes aimed at children. He said: ‘As a father of two youthful boys, I know how influenced they can be by what they see.

‘And I don’t want payday lenders taking advantage of the cost of living crisis and targeting children in this country.

‘It is wrong, it is not what should be happening and that is why a Labour government would stop them advertising during children’s TV.

‘It’s bad for youthfull people, it’s bad for families and it’s bad for communities.’

More than half of all payday loan adverts are seen during daytime TV, amid fears they are targeting the unemployed

The union Unite called for a 9pm watershed for payday loans adverts.

Unite assistant general secretary Steve Turner said: ‘This research paints a horrific picture of a generation of children and youthful people being groomed into a culture of debt by this bombardment of advertising.

‘It is not just children being infected by this payday loan culture. Research has shown that people are borrowing £660 a month just to pay for the necessities of life – food, housing and heating.

‘The ASA should give a sturdy lead in introducing a 9pm watershed for these payday loans so that children are not influenced by this insidious onslaught.

‘The number of adverts should be curbed as the public are being duped into thinking that getting into debt is an effortless option and agony free – fairly the contrary.’

Related movie: WHAT TO KNOW – Minnesota Payday Loans – Cash Advance MN Bad Credit


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