The Interactive Advertising Bureau (IAB) and 4A’s (American Association of Advertising Agencies) 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 5th, 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.“Video continues to grow as both a driver of revenue and ROI for buyers and sellers alike” said Randall Rothenberg, CEO at 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 at 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.”
