Ad industry launches effort to revise new standard terms and conditions for digital advertising
After more than a decade, the Standard Terms & Conditions for internet advertising, first developed in May 2001, updated in 2010 and 2018, will be significantly overhauled.
Launching in April 2023, the leading industry trade bodies will create a joint Task Force to include all stakeholders including advertising agencies, marketers, publishers, and ad tech companies.
Marla Kaplowitz, President and Chief Executive Officer, 4A's: "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.”
David Cohen, Chief Executive Officer, IAB: "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. 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."
Bob Liodice, Chief Executive Officer, ANA: "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.”
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