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The Interactive Advertising Bureau (IAB) and 4A’s (American Association of Advertising Agencies) have released for public comment, the Standard Addendum for Digital Video Advertising in TV Long Form Video (“LFV Addendum”). This Addendum amends and supplements the standard Internet advertising terms and conditions, last modified in 2009. The LFV Addendum is intended to be voluntarily used by buyers and sellers as a starting point to address the technical and business issues specific to advertising within long-form digital video.
To have your feedback considered, please email comments by Monday, February 5, 2018, 5:00 PM EST to Eric John at [email protected] and/or Louis Jones at [email protected].
The LFV Addendum has been developed by a Joint Working Group of the IAB/4A’s to serve as a template for the terms governing advertising in TV Long Form Video.
The LFV Addendum addresses only advertising in TV Long Form Video.
“TV Long Form Video” is defined as professionally-produced video content that is eight (8) minutes or longer in duration, and distributed either (i) via TV and Digital Platforms, or (ii) as a digital original via Digital Platforms only. TV Long Form Video also refers to a program consisting of multiple episodes, each of which is eight (8) minutes or longer. Advertising in TV Long Form Video is typically purchased in unified TV buys, and in the upfront and scatter markets.
The LFV Addendum does not apply to advertising in any other context.
The IAB and 4A’s believe that having a common starting point to negotiate terms for advertising in TV Long Form Video will markedly reduce the delay and expense inherent in preparing multiple, custom agreements. Reducing transaction costs is likely to enhance the efficiency, growth and competitiveness of the market for advertising in TV Long Form Video.
The LFV Addendum addresses business and ad ops issues specific to TV Long Form Video, such as:
The LFV Addendum is designed to supplement and amend the advertising terms in place between the parties, whether those terms are the Standard Terms & Conditions for Internet Advertising for Media Buys One Year or Less v.3.0 (“Standard Terms & Conditions v.3.0”) or other terms agreed between the parties.
It is expected that individual companies will negotiate variations to the terms presented in the LFV Addendum. As noted above, the LFV Addendum is offered as a starting point for negotiation.
Note that the following provisions of the LFV Addendum require the parties to negotiate key terms: Sections 5.b. (Media Company’s Delivery Plan), 5.c. (Cost to Agency of Excess Impressions), 6.a. (Cancellation and Termination), and 8 (Billing Metrics and Controlling Measurements).
The LFV Addendum was prepared by a IAB/4A’s Joint Working Group that met monthly throughout 2017. The Joint Working Group includes representatives of media companies and advertising companies focused on the buying and selling of TV Long Form Video. The companies involved in the Joint Working Group are listed in the attachment to these FAQs.
Long-Form Video Addendum (Draft)
Press Release FAQs
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