Since early 2012, the XMP specification part one, which defines the XMP data model and core namespaces, is an open, international ISO standard (16684-1).
The maintenance of the other parts of the XMP specification remain with Adobe.

The XMP framework is open, extensible, and can accommodate existing metadata schemas. Various standards initiatives are using XMP as their framework of choice for implementation. The extensibility of XMP allows standards to be carried throughout the workflow. Below is the growing list of standards bodies working on initiatives based on XMP:

Ad-ID
Ad-ID is the advertising industry’s supported coding standard for advertising assets across all media platforms. Ad-ID, the Interactive Advertising Bureau (IAB), and Adobe announced in October 2013 the Ad-ID Digital Slate for XMP Version 1.0. The Ad-ID Digital Slate is based on XMP and enables improved interoperability by allowing advertising assets to identify on which platforms (such as radio, print, online, mobile, over the top, place based) they should run. Embedding this ID information directly into assets makes for more efficient and accurate tracking and measurement of assets throughout their cross-platform lifecycle. The Ad-ID Digital Slate also helps simplify workflows for everyone in the marketing supply chain through a consistent digital identification standard that all platforms can recognize.

AdsML
The AdsML Consortium is a growing list of companies and organizations united to create a set of international specifications and business processes for the exchange of advertising information and content. The Advertising Submission Standards Subset of AdsML is carried into workflows with XMP.

Creative Commons
Creative Commons offers a flexible range of protections and freedoms for authors and artists. It has built upon the “all rights reserved” philosophy of traditional copyright to create a voluntary “some rights reserved” copyright.

Digital Image Submission Criteria (DISC)
DISC, a working group of IDEAlliance, has developed the DISC Metadata for Digital Image Submission Specification, which defines standard metadata fields to be attached to digital images for submission to magazines for publication.

Dublin Core Metadata Initiative (DCMI)
DCMI is an open forum engaged in the development of interoperable online metadata standards that support a broad range of purposes and business models.

International Press Telecommunications Council (IPTC)
The IPTC was established to safeguard the telecommunications interests of the world’s news organizations. Now its activities are primarily focused on developing and publishing industry standards for the interchange of news data. Since 2004, a joint effort of the IPTC, Adobe, and IDEAlliance has been working on the IPTC Core Schema for XMP for a smooth and explicit transfer of metadata values from the IPTC Headers to the XMP framework.

Metadata Working Group
The Metadata Working Group (MWG) was formed in 2006 as a consortium of leading companies in the digital media industry focused on the preservation and seamless interoperability of digital image metadata, making it available to all applications, devices, and services. The MWG publishes technical specifications that describe how to effectively store metadata into digital media files. These royalty-free specifications are made available to manufacturers and service providers so they can create products that store metadata in a consistent way, and that allow consumers to maintain control over their valuable information. Where possible, these specifications rely on existing standards.

Picture Licensing Universal System (PLUS) Coalition
The PLUS Coalition is an international nonprofit organization dedicated to the development of industry standards for the communication of image rights metadata. In the PLUS Coalition, publishers, designers, advertising agencies, photographers, illustrators, stock agencies, museums, libraries, educational institutions, and software developers work collaboratively to simplify and facilitate the licensing of images. The PLUS standards provide a universal image licensing language, defining and codifying the structure and elements of image licenses. PLUS leverages the power of XMP, allowing users to embed a PLUS Universal License Statement in digital image files when capturing, editing, managing, and delivering images.

Publishing Requirements for Industry Standard Metadata (PRISM)
A working group of IDEAlliance, the organization has developed the PRISM Specification, which defines an XML metadata vocabulary for managing, aggregating, and processing magazine, news, catalog, book, and mainstream journal content.

World Wide Web Consortium (W3C)
The W3C develops interoperable technologies (specifications, guidelines, software, and tools) to lead the web to its full potential. One enabling technology is the Resource Description Framework (RDF) that uses XMP.