Ad Industry Group To Update Standard Terms & Conditions for Digital Advertising To Launch in April
Three major trade associations in the advertising industry are launching a joint effort to update and overhaul the Standard Terms & Conditions for Internet Advertising, first developed in May 2001 and updated in 2010 and 2018. Launching in April, the task force is being organized by 4A’s, IAB, and ANA “to reduce friction, increase buying efficiency, and acknowledge changes in marketplace,” according to the press release announcing the campaign.
Set to launch in next month, the three industry trade bodies will create a joint task force to 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,” said Marla Kaplowitz, president and CEO of 4A’s. “While there have been updates, it’s time to revisit the approach and ensure we collectively address evolving needs in the marketplace.”
“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 of the Interactive Advertising Bureau (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,” said Bob Liodice, CEO of the Association of National Advertisers (ANA). “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.”
Interested in joining the Terms & Conditions Task Force? Submit your information here.
Share this Feature
Comments:comments powered by Disqus
- Multi-Unit Franchising
- Get Started in Franchising
- Open New Units
- Featured Franchise Stories