For the first time in more than a decade, the standard terms and conditions for internet advertising, first developed in May 2001, updated in 2010 and 2018, will be significantly overhauled, reports Inside Radio. The effort by the Interactive Advertising Bureau, the Association of National Advertisers and the 4A’s will begin work next month with the creation of a joint task force that they say will include all stakeholders, including advertising agencies, marketers, publishers, and ad tech companies.
“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, chief executive of the 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.” Cohen said developing a contractual framework that ensures the vital infrastructure needed to “streamline the digital advertising buying process” is part of the focus as the news terms are drafted.
The standard terms and conditions act as a guideline for digital ads, helping to confirm that sellers are speaking the same language as both brands and advertising agencies, adds Inside Radio.