The Programmatic Yield Collapse

Open market CPMs have dropped 22% YoY. How publishers are pivoting to direct sold and first-party data.

The End of the Open Market

Privacy changes and MFA (Made For Advertising) dilution have cratered the value of standard display units.

• Direct sold sponsorships command 10x the CPM of open exchange.
• First-party data capture (email) is the only hedge against cookie deprecation.