Ad Industry Launches Effort to Revise Standard Terms & Conditions for Digital Advertising
The joint effort by 4A's, IAB, and ANA hopes that the revision of standard contractual terms will reduce friction, increase buying efficiency and reflect market changes
NEW YORK—Three major trade associations in the advertising industry are launching a joint effort to update and overhaul the Standard Terms & Conditions for internet advertising, which were first developed in May 2001 and updated in 2010 and 2018.
The leading industry trade bodies 4A's, IAB, and ANA said they will create a joint Task Force in April 2023 that will include all stakeholders including advertising agencies, marketers, publishers, and ad tech companies.
"The industry has a legacy of collaboration to ensure that the buy side and sell side align on best practices and standards for an effective digital advertising ecosystem. While there have been updates, it's time to revisit the approach and ensure we collectively address evolving needs in the marketplace," said Marla Kaplowitz, president and CEO, 4A’s.
“While the previous work in this area remains the industry standard over a decade later, simply too much has changed for us to not revisit,” said David Cohen, CEO, IAB. “Having worked on previous iterations, I know the road ahead will not be easy, but it is important work that has to be done. We look forward to collaborating across the ecosystem and developing a contractual framework that ensures the vital infrastructure we need to streamline the digital advertising buying process.”
“The scale and complexity of today’s digital media transactions requires an updated foundation of contractual terms and conditions that underpin this large marketplace. We are very supportive of collaboratively revisiting digital terms and conditions to address the needs of today and tomorrow and look forward to participating in the endeavor,” added Bob Liodice, CEO of ANA.
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George Winslow is the senior content producer for TV Tech. He has written about the television, media and technology industries for nearly 30 years for such publications as Broadcasting & Cable, Multichannel News and TV Tech. Over the years, he has edited a number of magazines, including Multichannel News International and World Screen, and moderated panels at such major industry events as NAB and MIP TV. He has published two books and dozens of encyclopedia articles on such subjects as the media, New York City history and economics.