IAB and 4A's Release Terms and Conditions Addendum for Long-Form Video
The Interactive Advertising Bureau (IAB) and 4A's (American Association of Advertising Agencies) today released a set of terms and conditions for long-form video, a key addendum to the standard Ts and Cs, last updated in 2009. These new transactional guidelines are designed to reduce the delays and expenses inherent in preparing multiple, custom agreements, which are currently the norm across the industry.
The terms define long-form digital video as professionally produced content, eight minutes or longer in duration, that is dynamically ad served and delivered in a digital environment. Available for public comment through February 5, 2018, this critical update to the Ts and Cs is intended to be voluntarily used by buyers and sellers as a starting point to address the technical and business issues specific to long-form digital video advertising.
Over the past year, a joint IAB and 4A's working group—comprised of publishers and agency holding companies focused specifically on long-form video—has met on a monthly basis to develop the addendum. The addendum includes definitions and provisions related to:
- Viewability and brand safety
- Cancellation and termination provisions for unified buys (in which digital inventory is purchased along with TV on-air inventory)
- Terms for audience composition and demo-guaranteed campaigns
- Ad tag/materials preparation, testing, and notification
- Definitions and use cases for first party versus third and fourth party ad tags
- Rules and processes for handling report and measurement discrepancies
The document also includes an initial checklist designed to enable buyers and sellers to begin negotiations with a shared understanding of insertion order and campaign parameters.
"Video continues to grow as both a driver of revenue and ROI for buyers and sellers alike," said Randall Rothenberg, CEO, IAB. "Coupling that with the scarcity of long-form video, puts pressure on the marketplace—and makes transactional guidance an imperative. It will be invaluable to have the new long-form video terms and conditions at-the-ready before this year's Digital Content NewFronts."
"As the media landscape continues to evolve with the convergence of TV and digital, there's a need for faster, more agile processes," said Marla Kaplowitz, President and CEO, 4A's. "This addendum for long-form video will enable buyers and sellers to begin with a common point of reference, which they can choose to evolve or refine based on their own needs."
After public comment concludes, the joint IAB and 4A's Long-Form Video Working Group will evaluate and incorporate the feedback received, and release a final version of the addendum.
To review the proposed long-form video Ts and Cs, please visit iab.com/long-form-video. Please email comments by Monday, February 5, 2018, 5:00 PM EST to Eric John at firstname.lastname@example.org and/or Louis Jones at email@example.com.
The Interactive Advertising Bureau (IAB) empowers the media and marketing industries to thrive in the digital economy. Its membership is comprised of more than 650 leading media and technology companies that are responsible for selling, delivering, and optimizing digital advertising or marketing campaigns. The trade group fields critical research on interactive advertising, while also educating brands, agencies, and the wider business community on the importance of digital marketing. In affiliation with the IAB Tech Lab, it develops technical standards and best practices. IAB and the IAB Education Foundation are committed to professional development and elevating the knowledge, skills, expertise, and diversity of the workforce across the industry. Through the work of its public policy office in Washington, D.C., IAB advocates for its members and promotes the value of the interactive advertising industry to legislators and policymakers. Founded in 1996, the IAB is headquartered in New York City and has a San Francisco office.
The 4A's, founded in 1917, is the leading authority representing the marketing communications agency business. It provides leadership, advocacy and training that empower agencies to innovate, evolve and grow. It serves 740 member agencies across 1,400 offices that control more than 85 percent of total U.S. advertising spend. The 4A's is committed to protecting the best interests of its members, their employees and the industry at large. Its benefits division insures more than 164,000 agency professionals, and the DC office advocates for policies that best support a thriving advertising industry. With its best-in-class learning and career development programs, the 4A's and its foundation fuel a robust diversity pipeline of talent for its members and the marketing and media industry, fostering the next generation of leaders. For more information, please visit www.aaaa.org.
Industry Announcements's article first appeared on OnlineVideo.net
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