IAB/4A’s Standard Addendum for Digital Video Advertising in TV Long Form Video

The Interactive Advertising Bureau (IAB) and 4A’s (American Association of Advertising Agencies) have released the final version of 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.

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LFV Addendum: Frequently Asked Questions

What is the IAB/4A’s Standard Addendum for Digital Video Advertising in TV Long Form Video (“LFV Addendum”)?

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 via TV and digital platforms, or 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 applies to advertising in TV Long Form Video that is typically purchased in unified TV buys, and in the upfront and scatter markets. The LFV Addendum specifically addresses the measurement of demo-guaranteed campaigns, and the terms that would apply to unified linear TV and digital platform buys. The LFV Addendum may not be a good fit for your transaction if your campaigns are not demo guaranteed, and if you only buy or sell in the scatter markets.

Why is the LFV Addendum needed?

Currently, each company that buys or sells ad inventory in TV Long Form Video at the TV upfronts has its own set of terms and conditions, each addressing a slightly different list of subjects differently. The IAB and 4A’s believe that having a common starting point to negotiate transactions 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.

How does the LFV Addendum work?  

The LFV Addendum is intended for use by the parties in a transaction as a starting point to address the technical and business issues specific to advertising in TV Long Form Video. Once negotiated by the parties and incorporated into an IO for advertising in TV Long Form Video, the LFV Addendum governs, supplements and amends the standard advertising terms between the parties.

The template LFV Addendum was drafted to amend the IAB/AAAA 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. If your standard terms with the other party are different from the Standard Terms & Conditions v.3.0, then you will need to modify the cross-references accordingly.

What if there are provisions in the LFV Addendum with which my company does not agree?

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 some provisions of the LFV Addendum require negotiation between the parties. See Sections 5.b. (Media Company Delivery Plan) and 6.a. (Cancellation and Termination) of the LFV Addendum.

What is the relationship of the LFV Addendum to the current Standard Terms & Conditions v.3.0?

The LFV Addendum is specific to TV Long Form Video, and is designed to supplement and amend the standard advertising terms between the parties, whether they are the Standard Terms & Conditions v.3.0 or other terms agreed between the parties.

As a practical matter, the cross-references in the LFV Addendum are to provisions in the Standard Terms & Conditions v.3.0. If your standard terms with the other party are different from the Standard Terms & Conditions v.3.0, then you will need to modify the cross-references accordingly.

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Long-Form Video Addendum (PDF)  LFV Addendum (Word)

LFV Addendum with comments (PDF)   LFV Addendum with comments (Word)

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