According to AdAge, Cutwater, San Francisco has won the $60 million LensCrafters account and, while I am sure that Cutwater has a new account to crow about, I am not sure that it is a $60 million account.
Like salaries in the NFL, which are reported at their absolute maximum value despite not being guaranteed, being back-loaded and having high-threshhold incentives clauses, new business wins in advertising are reported at a ridiculous figure that makes no sense.
Really, why are account wins reported at the estimated media spend value?
We are so far past the 15% commission on media spend that citing the measured media is nothing more than the vaguest of yardsticks for estimating the true value of the account. So why cite it? Because there is no better estimation?
And the trades rip on ad agencies for being stuck in the past.