Actors union SAG-AFTRA and ad industry trade groups The Association of National Advertisers (ANA) and American Association of Advertising Agencies (4A’s) have come to an agreement on new commercial contracts that they say are better fit for the digital age.

The two entities first reached a tentative agreement on April 2 and released the full memorandum of agreement documents yesterday on the website of the Joint Policy Committee, which includes both the aforementioned trade groups.

That release was held until the union approved the new contracts on April 13.

A summary of the agreement is embedded at the bottom of this story, though the full revised contracts have not yet been released.

"This is a giant leap forward that more accurately reflects how the industry is creating and distributing commercials."

Stacy K. Marcus, partner, Reed Smith

The text above is a summary, you can read full article here.