Our industry has been navigating a long, tense period, anticipating privacy legislation that most likely would forever change the face of our $25 billion advertising business. There are questions as to whether we as an industry are capable and willing to step up and regulate ourselves and how necessary outright legislation really is. That is, whether we really need such legislation to operate responsibly around consumer data, targeting and advertising technology - or whether we can just get our own act together and get out in front of it. 

In any case, there is spotty understanding amongst our digital brood on what the extent of such legislation could mean for those who buy and sell media and those who actively participate in the ad economy in any number of ways.

The anticipated legislation, proposed by Reps. Rick Boucher (D-Va.) and Cliff Stearns (R-Fla.), is expected to give consumers the right to opt out of behavioral targeting. That's the short version, and there's a lot of nuance to the issue. But, at last Boucher and Stearns' hand has been tipped.

In early May, at least some of the tension was finally alleviated, as lawmakers released an advance draft of a bill that would regulate how websites collect visitor information and target advertising to those visitors.

The legislation may require websites to get consumers' explicit consent before collecting info on them. They would also have to disclose how they are using data they collect and how it is being shared. Now that the draft has been shared, consumer watchdog groups are saying it doesn't go far enough. But, whatever the degree, understanding the possibilities is essential.

Why is This Important to You?

Depending on where you sit in the ecosystem - you may find yourself having to navigate conversations about behavioral targeting, with the stakes now being higher than they have been in the past. If you are selling media, networks or certainly any sort of targeting, being versed in the issues and the emerging options, will be knowledge essential to your job, keeping pace on your goals, and the very economics of your selling success.

Another notable area of activity is the mobilizing of the National Advertising Review Council. Founded by major trade associations and the Council of Better Business Bureaus to foster truth and accuracy in national advertising through voluntary self-regulation, it appropriately issued an RFP late last fall to determine who will be deciding infrastructure, and what the consumer-facing mechanics of self-regulation will be. This includes how, exactly, do consumers opt out, and know they have done so? How do they report privacy invasions? And so on.

Companies like Better Advertising are getting ahead of the curve, by collaborating with major agency holding companies and independents to enable self-regulation by establishing infrastructure, consumer messaging and creative specs, all needed for compliance. Our being able to operationalize compliance -- both on the buying and selling side, is critical to keeping up the flow of currencies in the ad economy.

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