With concerns from marketers and agencies about getting the most out of their ad spend in digital video content front of mind, the Interactive Advertising Bureau’s Tech Lab has opened up the latest version of its delivery and measurement template for video advertising for comment.
The IAB tech lab’s 4.0 version of Video Ad Serving Template (VAST) is being positioned as a publishers’ aide to monetizing long-form content through more rigorous tracking options for clients who want to reach consumers in the digital space.
The update was announced Nov. 2 at the Ad Operations Summit in New York City.
“The updates made to VAST were motivated by significant growth in the consumption and expenditure of video content worldwide,” said Sonia Carreno, president of IAB Canada, in an interview with Media in Canada, StreamDaily‘s sister publication.
“IAB Canada’s 2015 Revenue Survey showed that video experienced an incredible 28% year-over-year revenue growth in 2014, representing $266 million in revenue and placing it squarely in the top-3 formats this year. We expect this dramatic growth to continue in 2016 and beyond and VAST 4.0 prepares us for this reality,” she said.
This is the first time since 2012 that the tool developed by the IAB Digital Video Technical Standards Working Group has been updated. The technical updates include a simplification of the ad-verification process, the addition of categories to separate ad creative from competing brands to ensure brand safety and an option for conditional ad deployment in the programmatic channel in case of lost inventory.
The update also allows publishers to monetize long-form content through “ad stitching,” which allows for ads to be fully integrated into the content video stream before the content is delivered to the ad server.
Scott Cunningham, SVP, technology and ad operations at the IAB and the general manager of the IAB Tech Lab, said in a statement that the update responds to advertiser needs of enhanced viewability and performance while giving publishers a stronger way to monetize long-form content.
Carreno said that the new tool demonstrates the IAB’s commitment to securing the supply chain, adding the IAB Canada is pushing to see the initiative move forward in Canada, as well.
Public comments can be sent in until Dec. 2, 2015. A final version will be released shortly thereafter.
Story courtesy of Media in Canada