Draft Open for 30-Day Public Comment
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.
“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.”
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.