The "rights metric" will allow broadcasters to measure and report their video advertising to a consistent and agreed standard.
Ron Coomber, former head of the Broadcast Advertising Clearance Centre, will chair the BMWG.
He said: "The formation of an industry-wide group came about as a result of the need to measure video advertising on the internet as broadcasters need to have a meaningful conversation with rights holders over the value of rights.
"In the interim, the rights holders have agreed to a moratorium while a suitable means of measurement can be developed."
Digital auditor ABC Electronic was tasked in November 2006 with facilitating the development of the measurement metric.
Richard Foan, managing director of ABCe, said: "Having industry-agreed online standards will achieve transparency and trust in the medium and enable advertisers, broadcasters and rights holders to use it with professionalism and confidence.
"A consensus on standards for simulcast, stream and download measurement is a pivotal point in the creation of online media metrics and something the group are committed to achieving."
ABCe will be teaming up with Barb, through the BMWG project, to investigate the options for Barb's system to include data on viewing of online video.
Barb said it was also investigating other techniques to be able to assess specifically who is watching the content online.
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