The Interactive Advertising Bureau (IAB) and American Association of Advertising Agencies (4A) is putting out updated terms and conditions for long-form video.
The groups are describing the updates as new transactional guidelines designed to reduce the delays and expenses. The groups have opened the updates up to public comments through Feb. 5 and will then incorporate that feedback into a final version of the addendum.
The groups are defining 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. The updated terms and conditions will be offered voluntarily to buyers and sellers of long-form digital video advertising.
Specifically, the addendum addresses viewability and brand safety; cancellation and termination provisions for unified buys; 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; and rules and processes for handling report and measurement discrepancies.
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“Video continues to grow as both a driver of revenue and ROI for buyers and sellers alike,” said Randall Rothenberg, CEO of IAB, in a statement. “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 of 4A, in a statement. “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.”