Interactive Advertising Bureau Endorses 'Skippable' Video Ads11 Apr, 2012 By: Jackie Jones
NEW YORK – The Interactive Advertising Bureau (IAB) has released the first update to its video advertising standards in four years, introducing its “IAB Video Suite” of new specifications, most notably support for skippable video ads that allow for publisher pricing models based on ads that play to completion, according to an official statement by the IAB.
The move comes as more publishers are investing in long-form Web video content, according to IAB.
“The IAB doesn’t create standards, but we step in and help create guidelines that are essentially reflective of what’s going on in the market and, if broadly adopted, become standards,” said Steve Sullivan, vice president of advertising technology at IAB. “And that’s exactly what’s happening here.”
The IAB spent more than a year crafting its new video suite.
“Creating this new suite of standards was certainly worth the effort, although it was a huge undertaking,” said Teg Grenager, founder and vice president of product at Adap.tv and co-chair of the IAB Digital Video Committee Technical Standards Working Group. “All of us on the Working Group collaborated closely with the IAB team with one goal in mind: the expansion of the digital video advertising marketplace. Now, with these specs in place, I think we will increasingly see advertisers using them to create innovative new ad experiences for consumers, and distribute and measure them across partners and devices.”
The new standards should appeal to long-form direct response advertisers in particular, Sullivan noted.
“The IAB Video Suite gives advertisers new canvases where they can tap into the power of video to create real brand stories in digital space,” he said. “These specs help creativity flourish by making it easier for companies to buy and sell video ad inventory while allowing marketers to deliver in-stream interactive video ads with the confidence that consumers will always receive a consistent viewing experience across different media players.”