▸ Week 12

• - Publishers begin testing sell-side agents
• - Google gives publishers an AI Overview opt-out
• - Breaking news gets a boost from Google Discover
• - Butler/Till reports strong results from agentic media buying
• - Future uses publisher first-party data to train AI
• - Publicis advises clients to avoid The Trade Desk
• - The ad tech industry is rethinking its foundations

What Does A Beta Test Of A Sell-Side Agent Look Like?

Publishers are beginning to explore agentic AI, where LLM-powered sales agents can make auction decisions and help sell inventory directly to buy-side systems. Early industry collaboration, including Prebid’s open framework, is enabling testing, with initial use cases focused on automating smaller, highly customised deals that are typically inefficient for human sales teams.

Early implementations from companies like The Weather Company and Optable show agents assisting with inventory discovery, audience packaging, proposal creation, and even deal setup, while still keeping human oversight in place. Although still in early stages, sell-side agents could evolve into a new transactional layer across both direct and programmatic channels, improving efficiency and enabling more intent-driven buying and selling.

Google Agrees to Give Publishers an AI Overview Opt-Out, but Concerns Remain

The UK’s CMA has proposed giving publishers more control over how Google uses their content in AI features, including the ability to opt out of AI Overviews and model training, and Google has agreed in principle to introduce such controls. While this appears positive, publishers and industry groups argue that the effectiveness will depend heavily on implementation details, particularly around transparency and enforceability.

Key concerns include the need for separate AI crawlers, granular opt-in or opt-out controls for different AI use cases, and safeguards to prevent indirect data access via third parties. Overall, the outcome could shift bargaining power toward publishers, but only if controls are sufficiently precise, enforceable, and aligned with consent principles.

US publishers see traffic boost for breaking news from Google Discover

Google AI Overviews have significantly impacted publisher traffic, with organic search referrals to a group of US publishers down 42% since 2024, while breaking news, particularly via Google Discover, is driving most remaining growth. Evergreen content such as explainers and reviews has been hit hardest, pushing publishers to prioritise timely, original journalism over SEO-driven content strategies.

Data also shows a broader shift in traffic sources, with declines in search partially offset by increases in direct, internal, and dark social traffic, though smaller publishers are disproportionately affected. While AI-driven referrals and citations are growing, they remain a minor share of traffic, reinforcing the need for publishers to diversify audience strategies beyond traditional search.

Butler/Till’s first agentic media buying tests cut media and supply chain costs

A first real-world test of agentic media buying by Butler/Till and PubMatic showed strong results, including an 82% reduction in supply chain costs, 30% lower CPMs, and increased impressions without compromising inventory quality. The setup used AI agents to translate campaign briefs, source inventory, and execute buys with human oversight, demonstrating both efficiency gains and faster campaign setup times.

These early tests suggest agentic systems could streamline programmatic workflows, reduce reliance on intermediaries like DSPs, and improve cost efficiency across the supply chain. However, the model is still in early stages, with implications for existing ad tech roles, as future value will likely depend on transparency, quality, and differentiated services rather than position in the supply chain.

Future Is Training Its AI On Publisher First-Party Data

Publishers are increasingly leveraging first-party data as a key asset in the AI-driven advertising landscape, with Future launching its Helix platform to combine audience data, predictive modelling, and campaign optimisation. The solution enables advertisers to identify high-performing audiences, activate them via direct and programmatic deals, and optimise toward outcomes like CTR and ROAS, while maintaining human-led planning and direct relationships.

Early tests show performance improvements, and the platform is designed to integrate with existing buying workflows and support future agentic buying systems. Overall, this reflects a broader shift where publishers use proprietary data and AI capabilities to differentiate, drive performance, and capture more advertiser demand.

Publicis Advises Clients to Avoid The Trade Desk, According to a Leaked Memo

Publicis has advised clients to avoid The Trade Desk after an independent audit found issues with fee transparency, including improperly applied DSP fees and insufficient evidence that media and data costs were passed through without markups.

The Trade Desk disputes the findings, citing data confidentiality constraints, but the dispute highlights ongoing tensions around transparency, fees, and trust in the programmatic supply chain.

Ad Tech Briefing: The industry is rethinking its foundations as a new world order is established

The ad industry is entering a major AI-driven transition, with agentic systems and LLMs expected to reshape media buying, monetisation models, and consumer behaviour, though the exact outcomes remain uncertain.

While advertising is seen as the likely core revenue model for AI platforms, the shift may favour performance-based models, increased automation, and potential consolidation, with broader implications for the balance between open web ecosystems and walled gardens.

▸ Week 11

• - The Telegraph’s subscribers drive revenue.
• - Meta hikes ad prices.
• - OpenX adds attention targeting for CTV ads.
• - New AI licensing scheme for smaller publishers.
• - MCP “Universal Adapter” for AI in advertising.
• - ShowHeroes acquired Traffective.

Media Briefing: In the AI era, subscribers are the real prize — and the Telegraph proves it.

Axel Springer acquired The Telegraph for £575 million, gaining a publisher with 1.09 million paid subscribers, 842,000 of whom are digital-only. The Telegraph generates around 81% of its core revenue from readers through subscriptions and circulation, compared with 19% from advertising.

Digital subscription revenue reached £81.1 million in 2024, while digital advertising generated £20 million, with total turnover of £279.4 million. Analysts highlight that subscription-based publishers benefit from direct audience relationships, recurring revenue, and first-party data, particularly as referral traffic from platforms and search becomes less predictable.

Meta Hikes Ad Prices

Meta will introduce additional fees for advertisers to offset Digital Service Taxes and other location-based charges in certain markets where ads are delivered, regardless of the advertiser’s location.

Starting 1 July, advertisers running image or video ads in Austria, France, Italy, Spain, Turkey and the UK will see a separate invoice line item adding roughly 2% to 5% to ad costs, depending on the country’s digital tax rate.

Future of TV Briefing: OpenX adds attention targeting for CTV ads backed by TVision.

OpenX has launched a new targeting option that allows advertisers to serve CTV ads to audiences more likely to be actively looking at the screen, available through its OpenXSelect curation tool as a paid add-on.

The feature uses TVision panel data to measure viewer attention and curates inventory by excluding programming with attention scores below 40%, enabling advertisers to prioritise higher-attention environments.

New AI licensing scheme to help smaller publishers strike deals with platforms.

Publishers’ Licensing Services (PLS) has launched a collective licensing initiative in the UK that allows publishers to license their content to AI companies for model training and retrieval-augmented generation in exchange for fees. The scheme invites publishers across sectors to opt in and contribute content to a shared repository that AI companies can access through licensed agreements.

The initiative aims to give smaller publishers access to AI licensing opportunities and provide legal certainty for AI companies seeking reliable, high-quality content sources. The project is being developed with support from industry groups and is positioned as a framework to help publishers monetise their content as AI usage expands.

Understanding MCP, The ‘Universal Adapter’ For AI In Advertising.

Model Context Protocol (MCP) is an open specification developed by Anthropic that enables AI models to connect with external software and data sources in a standardised way. It allows AI systems to perform multi-step workflows across different platforms by defining which tools they can use and how those actions interact with data.

In advertising and marketing technology, MCP can help AI operate across complex stacks of DSPs, SSPs, analytics tools and internal systems rather than being limited to a single platform. Early implementations in companies such as Criteo, Similarweb, Adverity and MadConnect show MCP being used to connect data, manage workflows and maintain context across AI-driven campaign tasks.

ShowHeroes Boosts German Publisher Network and Programmatic Capabilities with Traffective Acquisition.

ShowHeroes has acquired German programmatic monetisation platform Traffective to expand its capabilities across CTV, video and display advertising, creating a combined platform working with nearly 2,000 publishers and delivering more than 25 billion monthly ad impressions.

The deal combines ShowHeroes’ contextual and video technology with Traffective’s yield management and monetisation tools, aiming to support publishers across multi-screen environments including web, video and CTV.

▸ Week 10

• - Meta says LLMs have not yet reached its core ads business
• - Programmatic ads become the internet’s biggest malware vector
• - Amazon audiences coming to Netflix through Amazon DSP
• - IAB Europe highlights AI, regulation and sustainability priorities
• - Creator-led media companies reshape the video ad model
• - Falling Google Discover traffic hits Reach’s digital revenue
• - The Trade Desk launches OpenTTD integration portal
• - Criteo joins OpenAI’s ChatGPT advertising pilot
• - Onetag acquires Aryel to expand immersive ad tech

Meta’s Ad Business Isn’t Powered by LLMs Yet

Meta’s CFO, Susan Li, said that large language models are not yet meaningfully used in the company’s core ranking and recommendation systems, despite their long-term potential. Today’s algorithms still rely on engagement signals like likes and watch time, while LLMs are mainly used for content understanding and more advanced ranking on Threads.

The main barrier to wider adoption is infrastructure, as running LLMs at Meta’s massive scale requires far more compute capacity than currently available. For now, Meta’s profits continue to be driven by incremental improvements to its existing ranking systems, which fund ongoing LLM research for the future.

Online Ads Are Now Top Malware Vector

Malicious advertising became the main channel for distributing malware in 2025, overtaking email scams and direct hacks. A report by The Media Trust found that programmatic advertising accounted for over 60% of malware and phishing campaigns, with incidents increasing 45% YoY.

The growth of AI-generated ads, new programmatic channels like CTV, and the complex ad tech supply chain have made it easier for cybercriminals to spread malicious ads and hide their tracks. Experts say advertisers, regulators, and consumers all need to play a role in improving online ad safety and reducing digital crime.

Amazon Audiences Are Coming To Netflix

Amazon Ads will allow US advertisers to use Amazon Audiences for targeting Netflix ads through the Amazon DSP starting next quarter. This follows Netflix opening its ad inventory programmatically in Amazon’s DSP, enabling advertisers to combine Amazon’s shopping and behavioural data with Netflix streaming impressions.

The move is part of Amazon’s push to prove that streaming ads can drive measurable performance, not just reach. By linking ad exposure to purchase data through its identity graph, Amazon aims to show advertisers clearer connections between streaming campaigns and real-world sales.

IAB Europe Releases 2026 State of Readiness Report

IAB Europe’s 2026 State of Readiness – Sustainability in Digital Advertising report examines how the European ad industry is progressing on both environmental and social sustainability. For the first time, the study evaluates not only environmental impact, such as carbon emissions, but also social factors, including privacy, accessibility, diversity, media plurality, and responsible media.

The survey, conducted with 135 organisations across Europe, found that social issues like privacy and media plurality rank as more materially important than environmental concerns. AI-related challenges are now the top ecosystem issue, cited by 56% of respondents, while concerns about ad fraud have also risen significantly.

Regulation has become the main driver of sustainability initiatives, surpassing corporate social responsibility, while employer reputation is emerging as a key motivator for action. Although environmental measurement is improving, reporting readiness remains uneven, with about one-third of companies still not planning to publish sustainability reports.

Content Creators Rebuilt The Video Ad Model

Creator-led video companies on platforms like YouTube and TikTok are building ad businesses that outperform traditional publisher video models by offering integrated, platform-native campaigns. Donut Media is an example, combining long-form YouTube content with custom host-read ads, short-form social content, podcasts, events and merchandise to create 360-degree brand partnerships.

Instead of relying on generic ad formats, brands become recurring elements within the content ecosystem, similar to sponsorships in sports. This approach turns video ads into premium, creator-driven integrations that drive stronger engagement and trust with audiences.

Google Discover Traffic Fall Affects Reach’s Revenue

Reach increased profits in 2025 despite declining revenue by cutting costs, including reducing headcount and operating expenses. Page views dropped sharply in the second half of the year, largely due to a 46% fall in Google Discover traffic, which had previously been a major referral source.

To adapt, the publisher is focusing on diversifying traffic sources through social platforms, off-platform distribution, video content and new subscription products. While print still generates most of Reach’s revenue, the company expects long-term digital growth to come from subscriptions, video monetisation and alternative audience channels.

The Trade Desk Welcomes OpenTTD

The Trade Desk has launched OpenTTD, a new portal that provides a single login and unified analytics for partners and advertisers using multiple services across its platform. The tool aims to simplify workflows and give companies deeper insights into data, audience segments and campaign performance to better demonstrate value and monetisation opportunities.

Criteo Named First Partner to ChatGPT’s Ad Pilot

Criteo has become the first ad tech partner integrated into OpenAI’s U.S. advertising pilot in ChatGPT, allowing brands to use Criteo’s commerce data and activation tools within the platform. The integration enables LLMs to access structured commerce signals such as product relevance and retailer performance to support product recommendations and advertising inside conversational AI.

Onetag Acquires Aryel for Immersive Ad Tech

Onetag has acquired immersive advertising company Aryel to integrate its interactive ad formats into Onetag’s global exchange platform. The combined platform brings together premium publisher inventory, immersive creative formats and AI-driven campaign optimisation within a single self-serve system used by more than 2,000 publishers and 5,000 advertisers globally.

▸ Week 9

• - PubMatic Positions Agentic AI as Core Growth Strategy
• - Publishers Seek Clarity on Google’s Preferred Sources
• - UK Publishers Unite on AI Usage Rights
• - Netflix Ad Platform Raises Double Spend Concerns
• - The Trade Desk Ventura OS Expands Into CTV
• - IAB Europe Calls for Risk-Based Regulation
• - Election Season Curation Focuses on Voter Values
  

A PubMatic Is All In On Agentic AI.

PubMatic reported $80 million in Q4 2025 revenue (–6% YoY) and $282.9 million for the full year (–3% YoY), though results exceeded company projections. Executives attributed revenue pressure partly to reduced spend from a large incumbent DSP and noted that performance stabilised later in the year. The company is also expanding its DSP base and direct-to-buyer business to offset concentration risk.

At the same time, PubMatic is positioning AgenticOS and agentic AI as central to its long-term strategy. The company predicts that 25% of digital advertising will be executed autonomously by 2028 and 50% by 2030. More than 250 agentic campaigns have already run on the platform, and PubMatic is charging additional fees for AgenticOS beyond its standard SSP take rate while accelerating adoption through a dedicated AI partner program.

Media Briefing: Without transparency, publishers can’t tell if Google’s Preferred Sources feature benefits them.

Google’s Preferred Sources feature is designed to highlight selected publishers across Google surfaces, but publishers say they lack clarity on how selection works and how much impact the program has on traffic or revenue performance. Several publishers report difficulty measuring whether inclusion translates into meaningful business outcomes.

The concerns reflect broader questions around platform transparency and control in AI-driven and algorithmic discovery environments. Without clear reporting metrics or visibility into ranking logic, publishers say it remains challenging to evaluate the commercial value of participation.

UK media groups unite to tackle AI ‘scraping’ of journalism.

Five major UK media groups — including the BBC, Financial Times and Sky News — have launched the Standards for Publisher Usage Rights coalition to address how journalistic content is used in AI systems. The group argues that publisher material is being scraped and reused without common standards for permission or compensation.

The coalition aims to establish shared technical standards and licensing frameworks that would allow AI developers to access journalism under clearer usage rules. Publishers participating in the initiative seek to retain control over how their content is used while ensuring fair value when it contributes to AI training or outputs.

Future of TV Briefing: Netflix’s in-house ad platform launch has led some advertisers to double spend.

Following the rollout of its proprietary ad platform, some advertisers report double-spending when campaigns run through both Netflix’s direct buying system and broader programmatic channels.  The development underscores growing operational complexity as major streaming platforms build their own ad tech stacks, creating new challenges in coordination, frequency control and budget management across CTV environments.

The Trade Desk’s Ventura OS Makes an Ecosystem Pivot.

The Trade Desk introduced Ventura OS as part of a broader strategy to embed its technology more deeply within the connected TV ecosystem. The initiative extends beyond traditional DSP functionality, positioning the company closer to the operating system and device layer. By integrating buying and data capabilities directly into CTV environments, Ventura OS expands The Trade Desk’s role within programmatic infrastructure and reflects shifting dynamics across the CTV supply chain.

IAB Europe Welcomes Digital Omnibus Ambition and Calls for Risk-Based Simplification.

IAB Europe welcomed the European Commission’s Digital Omnibus initiative and called for a more proportionate, risk-based approach to simplifying digital regulatory frameworks. The organisation argues that compliance obligations should better reflect actual risk levels while maintaining consumer protections.

According to IAB Europe, regulatory simplification would help reduce administrative burden and fragmentation across the European digital ecosystem, supporting innovation and competitiveness within digital advertising markets.

This Election Season, Buyers Can Curate Deals Based On Voter Values.

During the current election cycle, buyers are increasingly curating programmatic deals based on voter values and political alignment. Using contextual signals, audience segmentation and geographic targeting, advertisers aim to align messaging with specific ideological or issue-based audience groups across digital and CTV inventory.

The shift reflects broader adoption of sell-side curation in political advertising, where campaigns seek greater control over placement, brand suitability and audience alignment.  As election spending increases, curated supply is becoming a more structured part of campaign planning rather than opportunistic peak-season buying.

▸ Week 8

• - Publishers monetise AI visibility expertise
• - IAB Tech Lab launches LEAP live event forecasting API
• - Star Tribune strengthens brand safety strategy
• - Subscriptions grow despite traffic decline
• - Google expands AI licensing deals with publishers
  

Media Briefing: Publishers explore selling AI visibility know-how to brands.

Publishers are turning their own generative engine optimisation (GEO) expertise into a new revenue stream by helping brands improve their visibility and citations inside AI tools like ChatGPT and Google’s AI Overviews. Instead of using GEO only defensively to protect their own traffic, publishers are now packaging prompt optimisation, structured data strategies, and editorial best practices into paid services and branded content offerings.

This shift reflects a major change in digital discovery, where being cited in AI-generated answers is becoming as important as traditional search traffic and links. Early results show commercial potential, with publishers like Future driving significant increases in AI citations for brand campaigns, signalling GEO could become a standard part of publisher monetisation strategies.

IAB Tech Lab Opens Public Comment on Live Event Ad Playbook (LEAP) Forecasting API to Enable Advance Discovery of Live Event Inventory.

The IAB Tech Lab has released a new Forecasting API that allows publishers and broadcasters to share structured data about upcoming live events, including schedules, expected ad breaks, and viewership forecasts. This helps make future inventory visible to buyers earlier, enabling better planning, automated deal creation, and more effective monetisation of premium live content.

The API addresses a major gap in programmatic, where future live inventory is difficult to discover and reserve, by standardising how this information is shared across DSPs, exchanges, and ad tech platforms. For publishers, this creates a clearer path to maximise revenue from high-value live events by making inventory easier to package, forecast, and sell programmatically in advance.

How The Minnesota Star Tribune Protects Advertisers While Covering ICE Crackdowns.

Despite traffic surging during major news coverage, the Minnesota Star Tribune proactively paused ads on sensitive articles to protect advertiser brand safety, which temporarily reduced direct ad revenue. Its diversified revenue mix, including large national advertisers, programmatic demand, and a strong agency services business, helped offset losses and maintain overall revenue growth.

The publisher also achieved high advertiser retention by emphasising its mission of funding local journalism and maintaining strong client relationships. To balance monetisation with editorial integrity, the Star Tribune is investing in AI-driven sentiment analysis and human oversight to enable more precise brand safety controls and preserve advertiser confidence around hard news content.

In Graphic Detail: Subscriptions are rising at big news publishers – even as traffic shrinks.

Subscription growth continues among major publishers like The New York Times, Wall Street Journal, and The Guardian, but the focus has shifted from acquiring new subscribers to retaining them, increasing prices, and moving users to higher-value bundles. Publishers are boosting ARPU by expanding bundled products such as newsletters, games, videos, and premium verticals, with bundled subscribers showing higher engagement, retention, and lifetime value.

Subscription pricing rose about 5% year over year in 2025, with some publishers implementing significant increases and shortening promotional offers to improve revenue quality. Subscriptions are now the most important revenue stream for publishers, ahead of display and native advertising, as traffic from search and social becomes more volatile.

However, growth is uneven, with the top publishers seeing subscriber volumes increase by up to 77% while median publishers remain mostly flat, highlighting the importance of strong product ecosystems and brand strength. Overall, subscriptions are becoming the core stabilising revenue model for publishers, helping offset declining referral traffic and reducing dependence on advertising and platform-driven audience fluctuations.

Google promises ‘more focused deals’ with news publishers as FT joins AI pilot. 

▸ Week 7

• - Amazon joins the Prebid auction as publishers test incremental yield
• - Amazon and Microsoft build AI marketplaces for licensed content
• - UK publishers prioritise video as ESG slips down the agenda
• - AI licensing and protection measures fail to curb web scraping
• - CTV identity matching shows high error rates
• - European publishers file antitrust complaint against Google’s AI offerings
• - Publishers turn to AI-driven measurement to unlock blocked news inventory
• - Pressure mounts on Google’s ad dominance amid political scrutiny
• - IAB TCF v2.3 compliance deadline approaches
  

How Publishers Are Testing Amazon’s Prebid Adapter For Incremental Yield.

Amazon opened a beta version of its Prebid adapter on January 21, allowing Amazon demand to bid directly inside Prebid alongside other buyers using the same audience signals, identity solutions such as LiveRamp, and floor-pricing logic. This folds Amazon’s previously separate auctions, including TAM and UAM, into the same bidding process publishers already use, reducing the need to manage parallel JavaScript libraries and auction logic.

Publishers such as Raptive and Unwind Media are testing the adapter by comparing Amazon’s bidding behaviour inside Prebid versus its standalone setup, tracking bid submission, win rates and revenue contribution, while gaining direct visibility into how Amazon bids interact with floors, signals and overall auction dynamics.

Media Briefing: Turning scraped content into paid assets — Amazon and Microsoft build AI marketplaces.

Amazon is preparing to launch an AI content marketplace, positioning it alongside Microsoft as publishers gain new channels to license content to AI model developers. Amazon Web Services previewed the concept to publishers ahead of its February symposium, though details remain limited beyond a supply-and-demand model between publishers and AI companies.

Microsoft has already piloted its marketplace with publishers including Business Insider, Vox Media, USA Today, The Associated Press, Hearst Magazines and Condé Nast, adding Yahoo as a buy-side partner that licenses rights-cleared content and shares revenue on a CPM basis. Other infrastructure players such as Cloudflare are also developing AI licensing systems, acquiring Human Native to help convert publisher content into AI-ready, licensable data.

Video Up, ESG Down on UK Digital Publisher Priorities for 2026.

UK digital publishers are prioritising subscriptions and video as key revenue growth areas, with 45% of respondents citing each in the latest survey from the Association of Online Publishers, as concerns grow around traffic loss and AI summaries. The findings align with research from the Reuters Institute for the Study of Journalism, which shows most publishers plan to increase video output and encourage journalists to build individual social media presences alongside publisher brands.

Sentiment around AI’s impact on publisher business models has turned more negative, with average scores falling to 4.7 out of 10, while a rising share of publishers are investing in IP protection against LLMs trained on their content. On the advertising side, publishers expect ad revenue to remain critical but increasingly forecast growth from private marketplaces rather than open auctions, alongside broader efforts to diversify revenue beyond advertising alone.

In Graphic Detail: AI licensing deals, protection measures aren’t slowing web scraping.

AI-powered search is driving significant traffic declines for publishers, with surveys showing that more than half have seen decreases and citing AI-driven search and social platform changes as top industry challenges. Data indicates that AI Overviews and chatbots send substantially less traffic than traditional search, while content scraping by AI systems is increasing.

Most publishers are not yet optimising for generative or answer engine optimisation, and those who do face limited transparency due to a lack of shared AI search data from platforms. In response, publishers are exploring AI licensing partnerships with companies including Microsoft and OpenAI, alongside emerging standards aimed at compensation, attribution and rights management.

Future of TV Briefing: CTV identity matches are usually wrong.

IP addresses are widely used as an identity signal in CTV advertising, but analysis from Truthset shows they produce high error rates across identity matching, including 84% for IP-to-email and 87% for IP-to-mailing address matches, based on data from providers such as Experian and Epsilon. Truthset estimates that around 40% of open-market CTV ad spend in the U.S. is wasted, driven by unreliable IP-based household matching that is further degraded by ISP practices like IP bundling.

European Publishers File Antitrust Complaint Against Google’s AI Offerings.

The European Publishers Council has filed a complaint accusing Google of abusing its dominance by using publishers’ content in AI Overviews and AI Mode without meaningful consent, opt-out mechanisms or fair remuneration, while diverting traffic away from publisher sites. Google disputes the claims, but regulatory scrutiny is increasing, with investigations underway and proposed measures aimed at giving publishers greater control over how their content is used in AI products.

Ad Tech Briefing: Publishers are turning to AI-powered mathmen, but can it trump political machinations?

Advertisers’ pullback from news advertising has largely been driven by keyword blocklists and conservative suitability thresholds that have redirected budgets toward walled gardens operating under different measurement standards. Publishers and ad tech firms argue that these systems have systematically over-blocked news inventory, leading companies like Hearst to adopt contextual and sentiment-based measurement to reassess inventory previously classified as unsafe.

Both challengers and incumbents, including DoubleVerify and Integral Ad Science, are shifting toward more nuanced suitability frameworks that distinguish genuine risk from routine reporting, coinciding with broader IAB-led measurement reforms and a stronger focus on ROI rather than sentiment alone.

In Graphic Detail: The scale of the challenge facing publishers, politicians eager to damage Google’s adland dominance.

Alphabet reported $403 billion in 2025 revenue, including nearly $114 billion in Q4, underscoring continued growth even as regulatory and legal pressure on Google intensifies in the U.S. and EU. At the same time, industry dissatisfaction with current ad measurement systems is growing, with an IAB survey finding no buyers believe all paid channels are properly represented in existing marketing mix models.

Buyers estimate AI-driven improvements to measurement could unlock $26.3 billion in incremental media investment and $6.2 billion in productivity gains, prompting initiatives like Project Eidos to rethink cross-channel measurement frameworks. Despite these efforts and ongoing antitrust cases, Google’s ad business continues to expand, with total quarterly ad revenue exceeding $82 billion and growth in search and YouTube offsetting declines in its Google Network division.

IAB TCF v2.3 compliance deadline approaches.

The TCF v2.3 aims to resolve signalling ambiguity around whether vendors were disclosed in CMP user interfaces by making the disclosedVendors segment mandatory. Transition deadline is 28 February 2026. The update requires CMPs and vendors to support and act on the disclosedVendors segment to determine lawful data processing under Legitimate Interest and Special Purposes, while most publishers using commercial CMPs are not expected to be impacted by the change.

▸ Week 6

• - Publishers Get Q4 Breathing Room as Revenue Diversifies Beyond Search
• - Hearst Loosens Brand Safety to Unlock News Ad Yield
• - People Inc Cuts Reliance on Google Through Off-Platform Growth
• - Amazon Launches MCP Server for Agent-Driven Advertising
• - Publisher Lawsuits Against Google’s Ad Tech Continue to Mount
• - Microsoft Builds AI Content Licensing Marketplace for Publishers
• - Interactive Advertising Bureau Proposes Draft Rules to Curb AI Content Scraping
  
• - UK Publishers Join Forces on Shared Programmatic Ad Platform
  
  

Media Briefing: A solid Q4 gives publishers breathing room as they build revenue beyond search.

AQ4 2025 brought a rebound in digital ad revenue for many publishers, driven by improved economic stability and renewed advertiser confidence, with momentum extending into early 2026 forecasts. At the same time, traffic erosion, softer open-web programmatic performance, lower ad requests and CPMs, and the impact of AI-driven discovery shifts continued to pressure search-dependent revenue.

Several large publishers reported stronger growth in non-session-based revenue such as events, video, social, direct deals, subscriptions and licensing, while session-based and programmatic revenue lagged behind. Advertiser behaviour also showed signs of stabilising, with more predictable planning cycles and increased upfront commitments compared to the stop-start patterns seen earlier in 2025.

Hearst rethinks brand safety to unlock news ad yield.

Hearst is changing how it applies brand safety and suitability across its local news and TV inventory, partnering with Mobian to use context-based measurement instead of blunt keyword blocking, while still working with legacy vendors like DV and IAS. Hearst and Mobian say 38% of Hearst newspaper impressions are misclassified as unsafe by existing tools, suppressing demand and increasing costs for advertisers, despite data showing over 97% of TV impressions ran in safe environments.

The new approach assesses context, sentiment and audience personas, aiming to better align news content with buyer objectives and potentially reduce CPMs by up to 27% by easing bid pressure. This shift comes amid broader industry debate over whether current brand-safety frameworks systematically disadvantage news publishers, with growing advertiser openness to testing alternative measurement approaches

People Inc. Says Who Needs Google?

People Inc. reported losing around 50% of its Google search traffic over the past two years, with search now accounting for roughly 30% of traffic versus 70% five years ago, contributing to a 13% YoY decline in core sessions in Q4. Despite this, digital revenue grew 14% YoY in Q4 to $355 million, driven by off-platform distribution across apps, social platforms and Apple News, where off-platform views rose 43% YoY and non-session revenue grew 37% to 38% of total digital revenue.

Performance marketing revenue increased 17% YoY, supported by continued on-site demand and momentum from People Inc.’s contextual targeting platform D/Cipher, which now contributes to off-platform revenue and has expanded to third-party publishers via D/Cipher+. Looking ahead, the company expects further growth from non-session revenue streams while absorbing ongoing declines in Google referral traffic, even as print revenue and overall IAC revenues remain under pressure.

Ad Tech Briefing: Amazon launches MCP server for agent-driven advertising.

Amazon has launched its MCP Server in open beta, opening Amazon Ads’ APIs to AI agents and allowing natural-language prompts to be translated into structured ad operations without custom integrations. The setup lets agents on platforms like ChatGPT or Claude create campaigns, pull reports and manage billing through a single standards-based connection.

Beyond basic access, Amazon is packaging common advertising workflows such as campaign launches, geographic expansion and reporting into end-to-end tools that agents can execute automatically. The move places Amazon at the centre of the wider industry debate over agentic advertising standards, contrasting its Amazon-anchored approach with more open, cross-platform initiatives like AdCP.

A running list of publisher lawsuits targeting Google’s ad tech practices.

The U.S. Justice Department’s antitrust ruling against Google for monopolising publisher ad servers and ad exchanges has enabled publishers to pursue compensation for alleged lost ad revenue, as the case now moves into the remedies phase. Multiple major publishers have filed coordinated lawsuits in New York, arguing that Google’s tying of Google Ad Manager and AdX depressed inventory prices, restricted competition, and reduced publisher revenue.

Legal experts note that while the DOJ ruling lowers the legal hurdle, publishers must still prove direct, publisher-specific financial harm caused by Google’s conduct. Google is appealing the decision, while publishers are seeking structural remedies, including separating ad server and exchange products, alongside compensatory damages.

Microsoft says it’s building an app store for AI content licensing.

Microsoft is developing the Publisher Content Marketplace, an AI licensing hub that lets publishers define usage terms for AI model training while providing AI companies with scalable access and usage-based reporting. The marketplace is being co-designed with major publishers and launched as a pilot amid growing legal and commercial pressure to pay for content used in AI systems, with Microsoft saying it has begun onboarding partners and plans to expand.

IAB Releases Draft Legislation Addressing AI Scraping.

The Interactive Advertising Bureau has released draft legislation, the AI Accountability for Publishers Act, proposing that AI companies pay publishers for large-scale scraping and use of content to train models and generate AI summaries. The proposal frames unpaid AI content use as unjust enrichment and warns that without rapid legislative action, ad-supported publishing could face accelerated decline similar to the collapse of local news in the mid-2000s.

UK publishers team up for programmatic ad platform.

Six major UK publishers have launched Atria, a shared programmatic marketplace designed to give advertisers scaled access to premium magazine audiences through a single buy, with a combined reach of 33 million consumers. Participating publishers include Bauer, Future, Hearst UK, Hello!, Immediate and Time Out, allowing agencies to target niche but valuable audiences without setting up multiple deals across different sites.

The platform is hosted by Permutive, which uses first-party data signals to create robust, interest-based audience segments across the portfolio. Publishers and agencies position Atria as a way to combine scale, trusted editorial environments, and brand-safe targeting in one marketplace, reducing operational friction for buyers.

▸ Week 5

• - Prebid Announces Prebid Sales Agent
• - AI Opt-Out Rights – Real Effects on Publishers
• - How ChatGPT Ads Could Impact Publishers
• - Ad Spend Expected to Rise in 2026
• - How Big Publishers Approach AI
• - Commission Opens DMA Proceedings on Google
• - Programmatic Advertising on TV is Set to Increase
• - Microsoft Stops Caching Prebid Video Files in April

Prebid Announces Prebid Sales Agent in Collaboration with AgenticAdvertising.org.

Prebid has taken stewardship of the Prebid Sales Agent, making agentic advertising available to publishers through trusted, open source infrastructure governed by the Ad Context Protocol. This means publishers of any size can access automated, agent-led direct buying without heavy engineering, proprietary vendors, or lock-in.

The Sales Agent becomes part of the core Prebid stack, letting publishers connect programmatic and agentic buyers through one unified setup while keeping control of data, pricing, and business rules. Bottom line: direct deals get faster, more scalable, and more automated, using tools publishers already know and trust.

Google’s forced AI opt out: what changes — and what doesn’t — for publishers.

The UK CMA has proposed rules that would finally give publishers real control over how Google uses their content in AI features, including the right to opt out of AI Overviews without losing search rankings and to get clearer attribution and usage data. Google says it will comply and explore new opt-out controls, but the proposals stop short of forcing a clean separation between AI and search crawlers, which publishers see as the real fix.

As a result, this is a meaningful but limited win: opt-out and transparency help, but they do not solve traffic loss, revenue erosion, or the “AI ate the click” problem. Publishers are now pushing for enforceable, structural remedies, clearer data proof, and fair licensing models, because safeguards without accountability are just promises with good PR.

Media Briefing: ‘A bitter pill’: ChatGPT ads are coming – where do publishers fit?

OpenAI is introducing ads in ChatGPT, turning it from a utility into a monetised media platform that earns revenue from publisher content without any clear revenue share, attribution, or traffic return. For publishers, the immediate risks are deeper traffic displacement, zero-click behaviour getting worse, and new competition for ad budgets, especially intent-driven spend.

While some see ChatGPT ads as experimental for now, its scale puts it on a collision course with publishers’ ad businesses and may force renegotiation of existing content licensing deals. Bigger picture: once AI answers become ad-funded distribution layers, publishers risk losing control over visibility, value capture, and monetisation unless they secure clearer rules, data, and commercial participation.

‘There seems to be a mind shift’: Advertisers keep ad spending flexible as uncertainty persists.

Heading into 2026, ad budgets are growing but in a more cautious, tightly controlled way, with advertisers prioritising flexibility over long-term commitments. Buyers are shifting spend toward CTV, programmatic and brand advertising, while demanding proof of real business outcomes and the ability to optimise or pull spend mid-flight.

For publishers, this raises the bar: inventory that is rigid, slow to transact or weak on measurement is easier to bypass as ad dollars move like actively managed portfolios. The message is clear: to stay competitive, publishers must offer cleaner signals, flexible deal structures and stronger links between exposure and measurable results.

Digiday+ Research: How publishers from Dow Jones and Business Insider to People Inc. are approaching AI in 2026.

AI is now mainstream in publishing, with 93% of publishers using it in 2025, mostly embedded into everyday workflows rather than experiments. The dominant use case remains efficiency, with half of publishers using AI only internally to automate tasks like transcription, translation, tagging, data analysis and CMS workflows, while keeping humans firmly in editorial control.

Around 38% now also use AI in limited content-facing ways, such as recommendations, search, audio and personalisation, but not for writing news. Publishers are increasingly investing in dedicated AI leadership and teams, signalling that AI is becoming a core operational capability, not a side project.

Generative AI is favoured over predictive AI, especially in sales, marketing, research and creative production, where it saves time and improves speed to market. The clear industry line is human-in-the-loop governance, with publishers prioritising oversight, ethics and quality while using AI to scale output, improve audience experience and protect editorial standards.

Commission opens proceedings to assist Google in complying with interoperability and online search data sharing obligations under the Digital Markets Act.

The European Commission has launched two DMA specification proceedings to clarify how Google must comply with obligations around Android interoperability and access to Google Search data. The cases focus on equal access to AI-related Android features for third parties and on providing anonymised search ranking, query, click and view data to eligible providers on fair, non-discriminatory terms.

Programmatic advertising on TV is set to increase this year.

Programmatic advertising is taking a larger share of TV budgets as spend shifts from linear TV to streaming and CTV, making TV more accessible to smaller and mid-sized advertisers. Comcast reports a 14% increase in advertisers running programmatic TV ads and a 29% rise in ad views from new advertisers in the first half of 2025.

Improved targeting, first-party data usage and easier programmatic access are attracting performance-led advertisers, including those new to TV, while major streamers like Netflix, Disney and NBCU expand programmatic inventory. Demand is also growing for programmatic access to premium and live event inventory, though regional and local TV providers still lag behind national players in programmatic capabilities.

Microsoft To Stop Caching Prebid Video Files, Leaving Publishers With A Major Ad Serving Problem.

Microsoft will stop free caching of Prebid video ad files on April 30 as it shuts down the Xandr DSP, disrupting how video ads are served via Prebid and Google Ad Manager. Without a replacement, many Prebid video impressions will result in VAST errors, meaning auctions clear but no video ad actually plays, affecting a large share of US sites using GAM.

The Microsoft cache currently handles over 60% of Prebid-to-GAM video impressions, and alternative caching options exist but are paid and require publishers to update their setups. Prebid is exploring a local caching workaround, but it comes with technical trade-offs and potential losses in AdX revenue, leaving publishers with urgent implementation decisions before the deadline.

▸ Week 4

• - AI Will Reshape Publishers’ Websites in 2026
• - Publishers Rethink SEO as AI Transforms Search
• - IAB Europe Updates Retail Media Standards
• - Programmatic Live Sports Inventory Expands
• - Amazon Launches Prebid Adapter (Open Beta)
• - Europe Reviews Google’s Ad Tech Concessions
• - Publishers Diversify as Global Revenue Plateaus
• - IAB Tech Lab Opens Event & Conversion API
  
• - Ad Tech Faces Accelerating Consolidation

Bold Call: AI will rewrite publishers’ websites in 2026.

Publishers are accelerating the use of AI to personalise homepages and content experiences, moving beyond static layouts toward sites that adapt in real time to reader behavior and intent.AI-driven summaries, chatbots and video formats are becoming central tools as publishers seek to boost engagement, repeat visits and time spent onsite in response to declining and more volatile search traffic.

Personalisation is increasingly seen as a filter rather than a replacement for editorial judgment, helping balance what readers want with what editors deem important. Looking ahead, publishers are also exploring agentic AI, in which websites proactively surface content and interact with users while maintaining the website's core role: highlighting the best journalism of the day. 

Media Briefing: The anatomy of the publishers’ SEO dilemma.

Publishers are rethinking SEO in 2026 as AI reshapes search and reliance on Google becomes increasingly risky. While search traffic is declining and growing more volatile, few publishers are abandoning Google entirely. Instead, they are cautiously rebalancing traffic sources and shifting focus from scale to engagement, conversions and high-value audiences.

SEO efforts are becoming more tactical, with content structured to be better understood by AI systems, but core principles remain unchanged: long-term trust, quality journalism and loyal audiences matter more than short-term visibility gains.

IAB Europe Releases Updated Commerce (Incl. Retail) Media Standards & Flexi Ad Sizes Guidelines for Retail Media Networks.

IAB Europe has released updated Commerce (incl. Retail) Media Measurement Standards V2 alongside new Flexi Ad Sizes Guidelines, aiming to improve measurement clarity and scalable activation across retail media.The updated standards introduce clearer definitions for sales metrics, a more refined measurement funnel, and a formalised approach to incrementality, addressing long-standing concerns around standardisation in retail media.

At the same time, the Flexi Ad Sizes Guidelines seek to reduce creative fragmentation by recommending four flexible aspect ratios that work consistently across devices and retail media networks. For publishers and retail media players, the updates support more comparable measurement, smoother activation, and more scalable commercial growth.

Race for Programmatic Access to Live Sports Heats Up with UFC Inventory on Paramount+.

Paramount has announced live, in-game programmatic buying for premium sports content, starting with UFC events on Paramount+. Advertisers will be able to access select live ad units programmatically via major DSPs, including Amazon DSP, Google DV360, The Trade Desk and Yahoo. The move marks a significant step in opening high-value live sports inventory to programmatic buying, combining real-time access with guaranteed placements.

It also reflects growing advertiser demand for scalable, addressable live sports inventory in an increasingly fragmented CTV landscape. As more broadcasters and agencies invest in programmatic and AI-driven trading for live events, sports continues to stand out as one of the few content categories capable of delivering large, simultaneous audiences at scale.

Amazon Publisher Services launches Prebid Adapter in open beta.

Amazon Publisher Services (APS) has released its Prebid adapter in open beta, allowing publishers to connect their existing Prebid setups directly with Amazon Ads demand and over 60 third-party buyers via TAM and UAM.The integration enables access to Amazon demand without changes to current auction architectures, while improving latency and enriching auction signals.

Publishers retain full control over which demand sources and signals are activated. The launch reinforces Prebid’s role as a core monetisation framework and highlights growing demand for interoperability, transparency, and publisher-controlled integrations in programmatic advertising.

As U.S. courts near a remedy, Europe puts Google’s ad tech concessions under the microscope.

As U.S. courts move closer to issuing remedies in Google’s ad tech antitrust case, the European Commission is closely examining whether Google’s recent ad tech changes meaningfully address competition concerns.

Google has removed Unified Pricing Rules and reduced Open Bidding revenue share to zero in the EU, restoring pricing flexibility for publishers and reducing AdX’s structural advantage. However, European stakeholders largely view these steps as insufficient behavioural remedies that fail to resolve Google’s structural dominance across the ad tech stack.

The EU’s response could influence how global remedies take shape, but much will ultimately hinge on the upcoming U.S. court ruling and whether regulators pursue behavioural fixes or more far-reaching structural measures.

Global news industry revenue level in 2025 as publishers diversify beyond print.

According to WAN-IFRA, global news media revenues totalled $125.7 billion in 2025, remaining broadly flat year over year. Print still accounts for the largest share of revenue, but its long-term decline continues as publishers invest more heavily in digital operations and diversified income streams.

Digital advertising and paid digital subscriptions have stalled at around 30% of total revenue, while alternative revenue sources — including events, B2B services, platform partnerships and memberships — are growing rapidly and now make up a quarter of publisher income.

The report also highlights the scale gap between publishers and tech giants, with global news revenues dwarfed by companies like Alphabet and Meta. Despite these pressures, publisher confidence is improving, with a majority of news leaders expressing optimism about their business prospects in the years ahead.

IAB Tech Lab Announces Event and Conversion API (ECAPI) For Public Comment.

IAB Tech Lab has announced the Event and Conversion API (ECAPI), a new technical specification open for public comment. The standard aims to simplify and standardise how marketing events and conversions are shared between advertisers, platforms, and partners.

ECAPI defines a common set of full-funnel events, from upper-funnel engagement to lower-funnel conversions. By enabling consistent event sharing, the specification supports outcome-driven campaign optimisation, improved measurement, and future agentic buying and optimisation use cases.

Today, most platforms operate proprietary Conversion APIs, which makes multi-platform integrations complex and costly to maintain. ECAPI addresses this by offering a flexible but consistent framework that reduces integration overhead while improving data quality and interoperability.

Ad Tech Briefing: Consolidation in a ‘Hunger Games scenario’ – and a true loss for the industry.

The ad tech market is moving toward deeper consolidation as ad spend continues to concentrate around major platforms like Google, Meta, and Amazon. The open web is shrinking, putting pressure on independent ad tech companies to find new revenue streams or merge to survive.

At the same time, rapid advances in AI are accelerating the shift from automation to agentic decision-making, where distribution power and scale increasingly determine winners. For publishers, this signals a tougher competitive landscape and a growing need to understand who ultimately controls value and access in the advertising ecosystem.

▸ Week 3

• - IAB Europe’s Attitudes to Digital Advertising Report 2026
• - UK Marketing Budgets Flat in Q4 2025 (IPA Bellwether Report)
• - Google draws its AI payment lines – publishers’ leverage is narrowing
• - Google now prioritising YouTube and X over publishers on Discover
• - Essential OpenRTB updates for your 2026 roadmap
• - Major publishers sue Google over antitrust violations-
• - Ad tech’s agentic gambit at CES
• - Global publisher Google traffic dropped by a third in 2025
  

IAB Europe's Attitudes to Digital Advertising Report 2026.

IAB Europe’s Attitudes to Digital Advertising Report 2026 shows that digital advertising investment in Europe is still growing, with most respondents expecting higher spend or revenue over the next year, which is positive for publisher demand. Programmatic maturity is strongest in display and video, while CTV and digital audio lag due to limited transparency and operational confidence, creating both risk and opportunity for publishers willing to invest early.

Cross-channel activation remains low, signalling that publishers who can offer unified, cross-format inventory and measurement have a clear competitive edge. Media quality issues such as fraud, brand safety, viewability, and transparency are the biggest blockers to growth, while CTV, AI, and Retail & Commerce Media stand out as the most promising areas for future publisher revenue.

UK Marketing Budgets Flat in Q4 2025: IPA Bellwether Report.

UK marketing budgets ended 2025 flat, with the IPA Bellwether showing spend stagnation in Q4 as brands prioritised caution amid economic and political uncertainty, even though most avoided outright cuts. While some traditional channels declined, digital remained resilient, with video continuing to grow year-on-year and CTV and Smart TV environments emerging as key drivers of attention, measurement, and premium outcomes.

Advertisers are not retreating from marketing but reallocating budgets toward channels that can clearly demonstrate ROI, flexibility, and accountability, including digital video, audio, and other online formats. Trust, media quality, and brand-safe environments are increasingly critical, as consumer confidence and perceived credibility directly influence performance and long-term growth.

AI, data quality, stable identifiers, and advanced measurement, such as brand lift, are becoming central to making constrained budgets work harder across the funnel. Overall, the market is cautious but intentional, rewarding publishers and partners that offer transparency, premium contexts, strong data foundations, and measurable impact rather than raw scale. 

The Rundown: Google has drawn its AI payment lines — and publishers’ leverage is narrow.

Google has told UK lawmakers it will pay publishers for controlled access to content, such as archives or APIs, but not for using open-web journalism to train AI models, drawing a hard line that limits future licensing upside for publishers. The company also refuses to treat AI Overviews as a compensable use of news content, despite their clear impact on click-through traffic and publisher revenue.

In practice, publishers have no clean way to opt out of AI Overviews without harming search visibility, as tools like NOSNIPPET can significantly reduce traffic. The outcome reinforces that publishers’ remaining leverage sits in paid access and tightly controlled datasets, while the fight over training use and AI summaries is increasingly shifting to regulators rather than commercial negotiation.

Google now prioritising Youtube and X over publishers on Discover.

Google is reshaping Discover to prioritise AI summaries, YouTube videos and X posts, reducing visibility and referral traffic for publishers who have historically depended on it as a major traffic source. In several markets, AI summaries now dominate the Discover feed and primarily drive users to YouTube, with research showing most clicks bypass publisher sites entirely.

This shift signals that Discover is moving from a traffic distribution channel to an engagement layer designed to keep users inside Google’s ecosystem. For publishers, Discover should now be treated as a volatile and declining dependency, where content may fuel AI or video experiences without delivering sustainable, monetisable traffic. 

Essential OpenRTB Updates You Can’t Ignore for your 2026 Roadmap.

The 2025 updates from IAB Tech Lab focus on removing friction in programmatic CTV and directly impact how publishers plan, package, and monetise premium inventory. Upgrading to Content Taxonomy 3.1 and using extended content identifiers in OpenRTB is now essential, as richer, standardised content signals improve targeting, brand suitability, and revenue without exposing sensitive programme data.

New sidecar APIs, including Concurrent Streams and upcoming Forecasting APIs, give publishers real-time and pre-event visibility into live audience spikes, reducing missed ad opportunities during high-demand moments. The Deals API tackles widespread deal underdelivery by standardising deal metadata, cutting manual errors, and improving transparency around who packages and curates inventory.

Together, these standards allow publishers to move from reactive monetisation to proactive planning across CTV and live events. Publishers that implement them as a system, rather than piecemeal, gain clear advantages in yield, operational efficiency, and buyer trust going into 2026.

The Atlantic, Penske, and Vox Media have all sued Google for antitrust violations.

Multiple major publishers including Vox Media, The Atlantic, Penske Media, McClatchy and Condé Nast’s owner Advance Publications have filed antitrust lawsuits alleging Google used its ad tech dominance to suppress competition and depress publisher ad revenues. The claims centre on Google’s control of publisher ad servers and ad exchanges, which courts have already ruled were illegally monopolised and tightly bundled, leaving publishers with little bargaining power or ability to switch providers.

Publishers argue this has directly limited their ability to monetise inventory fairly and fund high-quality journalism. The outcome now hinges on remedies expected later this year, which could force changes to Google’s ad tech practices or even a structural breakup, with significant implications for publisher revenue and market competition.

Ad Tech Briefing: Ad tech’s agentic gambit at CES.

CES signalled a clear shift toward agentic AI becoming core infrastructure across ad tech, with major platforms embedding automation directly into planning, buying, optimisation and measurement workflows. DSPs and SSPs such as Yahoo, Viant, PubMatic, and Magnite are positioning AI not as a feature, but as an operating layer that reduces human intervention.

For publishers, this raises the stakes around transparency, control, and interoperability, as buyers increasingly rely on autonomous systems making decisions inside live auctions and curated marketplaces. The direction of travel is clear: publishers will need to adapt to AI-native buying environments where value is shaped less by “programmatic tactics” and more by how well inventory, data access, and controls plug into automated decisioning systems.

Global publisher Google traffic dropped by a third in 2025.

New data from Chartbeat and the Reuters Institute for the Study of Journalism shows Google search traffic to publishers fell by roughly a third YoY with Google Discover referrals also sharply down, confirming a structural decline in platform-driven traffic. The drops are closely linked to Google’s AI summaries and Overviews, which particularly hurt utility and evergreen content, and publishers now expect average traffic declines of more than 40% over the next three years.

While social traffic is mixed, with short-term gains on Facebook and X in some markets, most publishers plan to reduce effort on both and shift focus elsewhere. In response, publishers are prioritising subscriptions, YouTube distribution, AI platform engagement, and differentiated content such as original reporting, analysis, and community-building, as reliance on search and social becomes increasingly risky.

▸ Week 2

• - Media executives prioritise AI-led monetisation, premium video and direct deals for 2026
• - Media spend is expected to cool in 2026 as buyers demand flexibility and measurable ROI
• - Google loses in court but faces few meaningful constraints on its market power
• - UK video revenues surge, reinforcing video as a structural growth driver
• - NBCUniversal tests agentic buying to automate and speed up premium deal-making
• - AI search disrupts open-web traffic, forcing publishers to rethink growth strategies
• - IAB Tech Lab unveils agentic roadmap built on existing programmatic standards
• - Publishers build their own creator networks to regain control of audiences and revenue
  

Media Briefing: Here’s what media execs are prioritising in 2026.

Publishers are entering 2026 with renewed focus on monetisation after a bruising 2025, prioritising AI-driven revenue, premium video, direct and PMP deals, and major tentpole moments like US elections and the FIFA World Cup. AI is moving from experimentation to core infrastructure on the sell side, supporting smarter pricing, audience packaging, yield management, RFP automation and faster, more precise media planning that extracts more value from fewer visits.

KPIs are shifting away from raw traffic towards engagement, conversions, subscriptions and registrations, with growing investment in measuring “AI visibility” to understand how often and where publisher content is surfaced across LLMs and AI search tools. As search and social referrals weaken, publishers are doubling down on brand marketing to strengthen direct relationships, drive logged-in audiences and improve the quality of demand they bring to advertisers.

Video is a major growth lever, with publishers expanding brand-safe on-site video, streaming and social formats, alongside creator collaborations that unlock higher CPMs and scalable branded content programmes. To maximise revenue, many publishers are packaging these strengths into integrated, cross-channel offerings that combine premium inventory, creators, content production and distribution, aligning with how buyers now plan and spend.

What does media spend look like for 2026? It could be worse — and it might be.

After a strong 2025, the US ad market is expected to cool in 2026, with growth forecast at roughly 6.6% excluding political spend, down from the 11% year that benefited digital-first and emerging advertiser categories. For publishers, the risk is not collapse but caution: elevated economic uncertainty is pushing buyers to delay commitments, allocate budgets quarterly, and demand far more flexibility in how and where spend is activated.

This uncertainty is accelerating a shift towards lower-funnel, measurable channels, increasing pressure on the sell side to prove ROI, performance impact and business outcomes rather than just reach or scale.  Brand-heavy channels like linear TV face the most friction, while CTV, streaming, digital OOH, retail media, search, social and influencer formats continue to attract budget due to their perceived agility and measurability.

Major events and political advertising will absorb large volumes of spend early and at lower unit rates, limiting upside for publishers reliant on premium pricing or late-stage scatter opportunities. In this environment, publishers that can offer flexible buying models, clear performance metrics, and diversified digital inventory across video, CTV and performance-aligned formats will be best positioned to defend and grow revenue in 2026.

The Year Google Lost In Court And Won Anyway.

Despite guilty verdicts in Google’s search and publisher ad tech monopoly cases, 2025 delivered few meaningful constraints, with no forced divestitures and only limited behavioural remedies, making it a relatively good year for Google in practice. Hopes that 2026 will materially rebalance the market remain low, as observers increasingly doubt courts will require Google to sell AdX or meaningfully restructure Google Ad Manager.

For publishers, the most tangible gains so far come from smaller regulatory concessions, such as the removal of Unified Pricing Rules in Europe, which restores some control over bid floors across display, video and in-app inventory. These incremental changes matter, but without stronger structural remedies, publishers should not expect antitrust action alone to materially weaken Google’s market power or transform sell-side competition in the near term.

2025 Video Sales Drive Highest Growth in UK Entertainment Revenues Since Pandemic.

UK video revenues grew 8% YoY in 2025 to £5.44bn, outpacing economic growth and reinforcing video as the strongest-performing entertainment category, creating a healthy environment for publisher video monetisation. SVOD now accounts for the bulk of growth, with subscriptions up 8.8%, signalling sustained consumer demand for streaming and premium video experiences that advertisers increasingly prioritise.

The slowdown in physical decline and the scale of total entertainment growth show that video consumption is structural, not cyclical, supporting long-term investment in video inventory, formats and audience development. For publishers, this momentum strengthens the case for expanding brand-safe video, CTV and streaming offerings that align with where consumer attention and ad budgets continue to grow.

NBCUniversal Test Out Agentic Buying Across Linear and Digital Inventory.

Agentic media trading has moved quickly from theory to practice, with NBCUniversal testing AI agents that negotiate and execute cross-platform ad deals, including live sports inventory across linear TV and streaming.  In these tests, buyer and seller agents exchange briefs, propose inventory packages, refine details and create orders automatically, significantly reducing manual back-and-forth while keeping humans in approval and activation roles.

For publishers, this approach promises faster deal cycles, more efficient monetisation of premium, high-value inventory and lower operational overhead for direct and IO-based trading. While questions remain about the long-term role of human traders and existing programmatic workflows, the pace of adoption suggests agentic AI could soon reshape how premium inventory is packaged, sold and activated.

The AI Search Reckoning Is Dismantling Open Web Traffic – And Publishers May Never Recover.

Generative AI has severely disrupted open-web monetisation, with AI Overviews and chat-based search driving massive declines in publisher referral traffic, often cutting 20–90% of visits and revenue in 2025. CTR collapses when AI summaries appear, hurting both organic and paid search, while AI platforms currently account for only about 1% of total publisher traffic, far too little to offset losses.

The impact now extends beyond news and blogs into ecommerce and long-tail content, affecting small independents and large media groups alike, accelerating layoffs, closures and revenue diversification efforts. For publishers, the takeaway is blunt: search is no longer a reliable growth engine, and survival depends on reducing platform dependence through direct relationships, diversified monetisation, and aggressive experimentation with how AI can be used, not just endured.

IAB Tech Lab Unveils Agentic Roadmap for Digital Advertising.

IAB Tech Lab has released an Agentic Roadmap showing how AI-driven buying and selling can scale by extending existing standards, rather than introducing new, fragmented ones. For publishers, this means agentic workflows can be adopted faster and more safely, using familiar frameworks like OpenRTB, OpenDirect, VAST, GPP and TCF, while preserving control, privacy and performance.

By adding modern protocols such as Model Context Protocol and gRPC, the roadmap enables machine-speed transactions, lower integration effort and reduced operational risk on the sell side. Looking ahead to 2026, open-source seller agents, trust and measurement signals, and interoperable execution layers could help publishers automate monetisation more efficiently without surrendering transparency or governance.

Why publishers are building their own creator networks.

Publishers are shifting from platform-led video strategies to creator networks they control, combining editorial credibility with personality-led video to rebuild audience loyalty and reach younger users. This model helps publishers monetise where ad budgets are growing fastest, as brands increasingly favour creator-style content for its engagement, efficiency and alignment with social and video algorithms.

Early results show strong upside, including higher social traffic, deeper engagement and new revenue streams from ads, affiliates, events and revenue-sharing models. For publishers, curated creator ecosystems offer a practical path to diversify revenue, reduce platform dependence and stay competitive as audiences and advertiser spend continue to move toward creators.

▸ Week 1

Happy Holidays! The weekly wrap will be back on 9th January.

▸ Week 52

Happy Holidays! The weekly wrap will be back on 9th January.

▸ Week 51

• - Media Buyers Pull Spend from OpenPath Over Transparency Concerns
• - Top Trends in the Media Industry for 2025
• - Google Scraps Unified Pricing Rules Affecting Publisher Yield
• - Publishers Rate Big Tech’s AI Licensing Deals
• - How Digital Advertising Shapes Today’s Media Ecosystem
• - Experts Predict Digital Ad Spend in 2026
• - Publishers Turn to Third Parties for AI Prompt Data
  
  

   

Media buyers shift spend from The Trade Desk’s OpenPath over transparency concerns. 

The Trade Desk’s results have stabilised, but OpenPath is facing sustained pushback from media agencies over opaque costs and limited transparency, leading several buyers to pause or pull spend despite its promise of a cleaner supply path.

While some agencies and The Trade Desk argue OpenPath improves efficiency and performance, sceptics say uncertainty around true take rates and pricing makes it hard to justify to clients, keeping trust issues firmly unresolved.

Media Briefing: The top trends in the media industry for 2025.

2025 started shakily for digital advertising due to economic uncertainty, but momentum improved through the year, with Q4 pacing well and many publishers expecting renewed growth into 2026. AI content licensing matured as more tech giants entered the market and deals shifted from generic training rights to product-specific and usage-based models.

At the same time, publishers faced SEO upheaval as search traffic and clickthroughs declined, forcing teams to prioritise brand visibility and conversions over raw scale. To reach younger audiences and drive future ad growth, publishers doubled down on vertical video and creator networks, positioning video as both an engagement and revenue engine.

Google removes unified pricing rules that hit publisher ad yield in 2019.

Google has ended its unified pricing rules, allowing publishers to set different price floors for Google and non-Google bidders for the first time in over six years. The change follows antitrust rulings in the US and Europe, where regulators found Google’s adtech practices anti-competitive and ordered it to end self-preferencing across the supply chain.

Unified pricing had often suppressed publisher yield by forcing a single floor price across all demand, which publishers had previously used to protect against Google’s data advantage. While seen as a move to avoid harsher remedies like divestment, publishers’ groups say this is the first change delivering immediate and tangible relief for most publishers.

Digiday Scorecard: Publishers rate Big Tech’s AI licensing deals.

AI licensing has rapidly become crowded, with publishers now weighing a growing mix of deals across platforms that differ widely on transparency, payments, traffic impact and crawler behaviour, and the overall verdict is blunt: none are doing enough.

- Microsoft currently leads the pack thanks to collaborative messaging, pay-per-use economics and relatively strong traffic return, though trust remains cautious and access is limited to a small group.

- OpenAI follows closely with the most deals in place, but concerns are rising about unanswered outreach, traffic cannibalisation and its longer-term ambitions, while

- Meta and Amazon sit mid-table with newer, quieter or more narrowly scoped arrangements.

- Google ranks near the bottom, with publishers deeply unsettled by AI Overviews, opaque economics and minimal willingness to meaningfully pay for content despite recent cosmetic changes.

- Perplexity fares poorly due to low payouts, trust issues and alleged crawler abuse, even though it offers revenue sharing and some attribution.

- Prorata stands out as a hopeful alternative with a fairer revenue-share model and transparency, while Anthropic trails badly, criticised for uncooperative crawlers, zero licensing appetite and ongoing legal battles.

New IAB Europe Report Reveals How Digital Advertising Shapes the Social Fabric of Today’s Media Ecosystem. 

IAB Europe has released Beyond Reach, a first-of-its-kind report examining how digital advertising addresses social sustainability across Europe and beyond. The report finds that while environmental impact has dominated industry focus, social impacts such as misinformation, media plurality, accessibility and diversity remain largely unmeasured and unstandardised.

Although initiatives are emerging across content assessment, measurement and media buying, efforts are fragmented with no shared definitions, KPIs or consistent standards. IAB Europe concludes that coordinated, interoperable frameworks are now needed to embed social impact and public value into everyday media planning and investment decisions.

Ad Tech Briefing: How the experts predict digital ad spend will pan out in 2026.

U.S. ad spend is forecast to grow 6.6% next year, down from roughly 11% in 2025, with growth moderating rather than collapsing and largely excluding the impact of political advertising. Digital continues to dominate, now accounting for 72% of spend, with gains concentrated in CTV, digital video and channels offering first-party data, closed-loop measurement and AI-driven optimisation.

Programmatic spend is still expanding, but growth is uneven: while programmatic CTV, DOOH and digital audio are rising fast, total open-internet ad revenues are expected to be flat, putting pressure on independent ad tech and publishers. Most incremental growth is expected to flow to closed platforms like Amazon, Google and social media, as advertisers prioritise price and performance over transparency and control.

Publishers are hunting for AI prompt data — now they’re starting to get it from third-party companies. 

As AI search grows, publishers can no longer rely on traditional analytics and are turning to new third-party tools to track how and where their content appears in AI-generated answers. Because platforms like Google and OpenAI do not share visibility data, firms such as Semrush, Similarweb and Profound are using modeled, synthetic and clickstream data to give publishers a directional view into citations, prompts and AI Overviews.

The data is imperfect and probabilistic, meaning it’s best used for comparison and trend analysis rather than precise measurement. While AI-driven referral traffic is still tiny, publishers can use visibility insights to shape content strategy, support advertiser pitches and strengthen their hand in AI licensing negotiations.

▸ Week 50

• - Media and Advertising Outlook for 2026
• - IAB Tech Lab Releases New Programmatic CTV Guidance
• - How Publishers Are Adapting to the Zero-Click Era
• - Why More Publishers Are Moving to Substack
• - Agencies Push Curation Upstream in Programmatic
• - EU Investigates Google’s AI-Generated Search Summaries
• - Programmatic Advertising Expands Into AI Chatbots
• - A New Baseline for Ad Tech Transparency
  
  

In Graphic Detail: What to expect in media in 2026. 

CMOs are already shaping 2026 media plans, guided by fresh forecasts from WPP, Dentsu, Madison & Wall and WARC. WPP highlights that retail, finance and travel media spend will surpass TV this year, driven by increasingly shoppable and data-powered TV formats. North American ad revenue is set to grow 7.6% in 2026, boosted by U.S. midterms, major sporting events and renewed economic clarity.

Dentsu expects tech and beverage categories to fuel global spend, with AI-related product launches and global elections leading the charge. Programmatic buying will keep expanding, though much of the growth will concentrate inside walled gardens as open-web revenues decline. Across the industry, AI and automation now eclipse sustainability and brand-building as marketers’ top priority for 2026.

IAB Tech Lab Announces CTV Ad Portfolio and Updated Guide to Programmatic CTV.

IAB Tech Lab has released a new CTV Ad Portfolio defining 6 core CTV ad formats and updated its Guide to Programmatic CTV, with public comments open until 31 January 2026.The updates introduce clearer standards and OpenRTB support, especially for Pause and Menu formats, to streamline how CTV formats are traded.

With CTV now dominating U.S. TV viewing, these unified definitions aim to reduce rendering issues, cut duplicate creative production, and ease operational strain for publishers and buyers. Industry leaders from GumGum, Disney and NBCUniversal welcome the move, noting that consistent standards will accelerate scale, interoperability and overall CTV revenue growth.

How The Arena Group is rewriting its commercial playbook for the zero-click era. 

Facing steep drops in referral traffic, The Arena Group is using AI-driven content recommendations and its first-party data platform Encore to keep readers on-site longer and lift revenue per session.  The publisher aims to double pageviews per visit by 2026, with early gains in dwell time already generating several million dollars despite traffic declines of 25–50% across key brands.

Alongside improving user experience, the company is building an in-house curation desk to replace low-quality ads with personalised “smart slots,” expecting six-figure revenue from curation next year. Industry experts note that with AI answer engines reshaping search traffic, publishers must shift from chasing clicks to deepening loyalty and delivering cleaner, higher-value on-site experiences.

Media Briefing: Why publishers are flocking to Substack. 

Major publishers like The Economist, The New Yorker, FT and Daily Mail are flocking to Substack as a low-risk way to find new audiences, test niche formats and build tighter communities amid declining search and social traffic. Most newsletters are free, with some paid tiers, allowing publishers to experiment without cannibalising core subscriptions while using Substack’s discovery tools and community features to grow.

Consultants warn that success on Substack requires original content, active participation and collaboration on the platform, not a passive “post and pray” approach. Publishers such as Reach, which now runs 25 Substacks, see the platform as a place to build standalone communities rather than drive traffic back to their sites, with 2026 set to reveal whether these experiments become a permanent strategy.

Agencies push curation upstream, reclaiming control of the programmatic bidstream. 

Agencies plan to tighten the definition of curation in 2026, shifting from static publisher lists and prebuilt PMPs toward dynamic, supply-level control that determines which impressions are allowed into the auction before DSPs optimise. Butler/Till exemplifies this shift by using SWYM.AI’s SelfCurate platform to score and assemble inventory in real time, producing cleaner bidstreams, reducing MFA exposure, and giving traders more precision and agility.

Holdcos like Dentsu are also curating directly at the SSP level, plugging into CTV ad servers to build one-to-one curated paths with publishers using their own data, planning tools and AI. Overall, curation is moving away from intermediary packaging and toward agency-authored, supply-rooted marketplaces, pressuring SSPs to increase transparency, reduce reselling, and treat curation as true supply-path optimisation rather than a monetisation layer.

EU investigates Google over AI-generated summaries in search results.

The EU has launched a formal investigation into whether Google’s AI-generated search summaries and AI training practices use publishers’ and creators’ content without proper compensation or opt-out options. The probe also covers YouTube data and Google’s conversational AI Mode, amid concerns that AI Overviews are diverting traffic away from news sites, with some publishers reporting losses of up to 50% in clicks.

Campaigners argue that creators are effectively forced to allow Google to train AI on their work, calling the situation a threat to journalism, democracy and creative livelihoods. Google says the investigation risks stifling innovation, while the Commission insists AI must grow in a way that respects EU values, media diversity and creators’ rights.

Programmatic Ads Are Coming To AI Chatbot. 

PubMatic has partnered with Kontext to bring programmatic advertising into AI chatbots via OpenRTB, letting advertisers target users based on real-time conversational intent and giving early AI publishers higher fill rates and stronger performance. As ad budgets inevitably shift toward AI search and chat environments, experts predict many publishers will need to build their own chatbots to stay competitive in a rapidly expanding ecosystem that may mirror the mobile app marketplace.

We just did the math’: The new baseline for ad tech transparency.

The open web’s opacity stems from years of chasing cheap scale, piling on intermediaries and supply routes that buyers can no longer trace, and agencies at the Digiday summit signalled a renewed push for transparency driven by operational strain. SSPs emerged as a major friction point, with buyers citing huge unexplained gaps between bid and publisher revenue and tightening partnerships to only those willing to provide log-level data, clearer economics and more direct supply.

This shift is prompting agencies like Mindgruve and marketers like Georgia-Pacific to overhaul SSP strategies, while new channels such as CTV and retail media remain black boxes with limited insight into delivery or data provenance. AI threatens to deepen the opacity by accelerating polluted signals and vague pricing, raising the stakes for an open web that must fix transparency now or risk losing both trust and relevance.

▸ Week 49

• - Digital Omnibus ‘cookie fix’ leaves publishers worse off
• - Programmatic quality delivers better results without higher costs
• - Publishers double down on subscriptions amid market uncertainty
• - Publishers escalate fight against Google’s AI Overviews
• - IAB Tech Lab introduces Deals API for cleaner deal execution
• - New DSA transparency templates simplify EU ad disclosures
• - Programmatic Governance Council launches to tackle industry inefficiencies
• - Newsweek personalises its homepage with AI
• - Publishers bring vertical video back on-site
• - Publishers reassess 2025 revenue mix and priorities
  
  
  

European publishers say the Digital Omnibus ‘cookie fix’ leaves them worse off.

European publishers argue that the Digital Omnibus leaves them worse off. What was expected to simplify privacy rules is seen instead as a cosmetic update that adds complexity without helping ad-funded media. The biggest worry is browser-level consent: if users set tracking preferences once in Chrome, Safari or mobile OS settings, consent rates could collapse — echoing Apple’s ATT — cutting off essential data for advertising, measurement and fraud prevention.

Publishers are also unsure whether proposed exemptions for media services would work in practice, as ad tech vendors may avoid the legal risk of determining who qualifies. Meanwhile, the new one-click consent/reject rule is expected to drive consent rates even lower and make essential tracking harder to justify. Altogether, the Omnibus is seen as shifting more power to browsers and walled gardens, leaving open-web publishers with fewer tools and more uncertainty.

New Report Finds That Quality Pays Off In Programmatic – And It’s Not More Expensive.

Marketers know quality beats quantity, but they’re still addicted to cheap, low-quality media because legacy measurement rewards volume. Compliant’s tests show that buying from high-quality publishers with strong data practices lowers CPA and CPM while boosting ROAS, and it doesn’t necessarily cost more.

Brands like Reckitt are proving this by investing in data, tools and talent, building curated supply lists, and tailoring brand safety rules instead of blindly trusting big platforms. With AI raising the stakes for clean, transparent data, the industry may finally be pushed to break its bad habits.

Digiday+ Research Subscription Index 2025: Subscription strategies from Bloomberg, The New York Times, Vox and others.

Publishers entered 2025 with the same financial uncertainty as 2024, while also battling traffic loss from generative AI, pushing them to double down on subscriptions as a key revenue pillar. Digiday’s Subscription Index shows subscription revenue and focus have steadily increased since 2023, with most publishers keeping price hikes small except Bloomberg, which raised prices sharply without adding major perks.

High-priced publishers are leaning into bundles and games to boost perceived value and retention, with The New York Times, Wall Street Journal and Chicago Tribune leading the trend. Games have become a major engagement tool across the industry, used both as free traffic drivers and as bundled subscriber perks.

Bloomberg also stands out for monetising newsletters separately, while Vox made the biggest shift by abandoning donations and introducing a paywall in 2025. Overall, publishers are experimenting aggressively with pricing, bundles, benefits and engagement tools to keep subscription revenue growing.

From lawsuits to lobbying: How publishers are fighting AI.

Publishers are intensifying their fight against Google’s AI Overviews, arguing it has caused major drops in traffic, revenue and click-through rates, with some reporting declines of up to 90%. A U.K.-based coalition has now taken its case to the U.S. Department of Justice, adding to complaints already filed with the U.K. and EU regulators, while industry groups like the PPA and major tech players like Cloudflare push for clearer rules and transparency around Google’s AI systems.

At the same time, publishers are pursuing lawsuits against AI firms such as Cohere and Google itself, accusing them of scraping journalism without permission and diverting traffic through AI-generated answers. The unifying theme is that publishers no longer accept being used as training data or traffic sources for AI products without accountability, transparency or compensation.

IAB Tech Lab Releases Deals API to Standardize Programmatic Deal Sync.

IAB Tech Lab has released the first version of its Deals API for public comment, aiming to standardise how SSPs and DSPs communicate programmatic deals and eliminate the messy manual entries that cause errors and lost revenue. The API gives clear visibility into who is involved in packaging a deal — seller, packager, curator — which boosts transparency, reduces mismatches, and helps rebuild trust in private marketplace transactions.

Industry leaders say this solves long-standing inefficiencies and lays the groundwork for cleaner data, better collaboration, and more innovation as deal-based buying continues to grow. Future versions will expand into full deal discoverability, giving all parties line of sight into where and how they’re included in the supply chain.

IAB Europe releases DSA Transparency Implementation Guidelines 1.2.

IAB Europe, IAB Tech Lab and industry partners have released standardised, optional DSA transparency text templates in 24 EU languages including easy-to-read versions to help platforms meet Article 26’s ad disclosure requirements. These multilingual resources, now part of the DSA Transparency Implementation Guidelines, aim to simplify compliance and ensure consistent, accessible transparency for users across the EU.

Ad Tech Briefing: The Programmatic Governance Council is a bid to reset power dynamics.

The IAB Tech Lab is launching a Programmatic Governance Council on 10 December to tackle long-standing business problems like bid duplication, opaque auction mechanics, and ballooning operational costs that waste billions each year.  The council is designed to put agencies and publishers, not intermediaries, in charge of defining the commercial rules that the tech layer should follow, reflecting frustration that technical fixes have failed without business alignment.

Its work sits alongside proposals like the “Grand Bargain,” which aims to cut duplication by having DSPs return multiple bids while publishers adopt TID/GPID properly, though the council won’t be asked to formally approve that plan. Whether this becomes a meaningful governance body or just another talking shop will depend on follow-through, but for now it represents a push for a more rational, transparent programmatic marketplace driven by buyer–seller priorities rather than platform interests.

Newsweek is building an AI Mode-like experience to customize homepages for readers.

Newsweek is building an AI-driven homepage with Google Cloud that mimics Google’s AI Mode, aiming to personalise the experience for every visitor and boost engagement as search referrals decline. The homepage will feature an AI assistant, localised information and personalised content recommendations, and Newsweek plans to expand it to pull from both its own archive and external sources.

The publisher is also rolling out additional AI tools from article-level “Ask Newsweek AI” chat, to translations, to personalised ranking algorithms, all enabled by its recent site redesign. Early tests show strong engagement lifts, and Newsweek hopes these AI-powered products will help diversify revenue and build deeper direct relationships with users.

Publishers Turn to On-Site Vertical Video to Build Stickier Audience Relationships.

Publishers are trying to reclaim short-form vertical video from TikTok, Reels and Shorts by bringing the format back onto their own sites, with new tools like Media.net’s Bytes giving them the tech backbone to host scrollable vertical feeds and control monetisation. Bytes lets publishers repurpose social videos, convert horizontal clips, or even generate AI-based videos from articles, while keeping editorial control over what gets published.

Although open-web demand for vertical video ads is still nascent, agencies and DSPs are beginning to show interest, and early tests show users spend more time on-site and deliver higher CPMs due to the format’s high attention. For publishers facing shrinking search referrals and AI-driven traffic drops, vertical video is becoming a key way to build stickier user experiences and stronger direct relationships.

Digiday+ Research: Where publisher revenue stands with ads, video, content licensing and subscriptions.

Publishers are entering 2026 reassessing their revenue mix, with direct-sold ads remaining the strongest and most stable source, and nearly all publishers planning to keep investing in it. Programmatic revenue and focus both declined year over year, reflecting broader market struggles, while video ads showed mixed signals: fewer publishers earn from video overall, but those who do are earning more.

Content licensing, including AI licensing deals, remains a small revenue contributor, with diminishing investment plans despite industry buzz. Subscriptions also slipped as a revenue source and priority, with fewer publishers deriving meaningful income from them or planning to grow them compared to last year.

▸ Week 48

• - Reach shifts to subscriptions as AI-era referral traffic declines
• - IAB Europe study shows uneven adoption of addressability & measurement
• - BuzzFeed, Vox, USA Today and Arena Group join RSL’s AI licensing framework
• - Press Gazette: ChatGPT accessed paywalled content despite safeguards
• - Broadsign acquires Place Exchange as programmatic DOOH accelerates
• - AudienceMix launches curated audience data model to cut segment overlap
• - DOJ v. Google: Judge signals pragmatic, behavioural-first remedy likely
  

‘The Big Bang has happened’: Reach gets proactive on AI-era referrals, starting with subscriptions.

Reach is overhauling its business after a brutal year, introducing its first-ever digital subscriptions as it moves away from relying on volatile search and social referrals. Traffic across its major titles has dropped around 30%, pushing the publisher to rethink everything from pricing models to newsroom priorities.

The company is betting on paid tiers, cleaner ad-light experiences, and heavier investment in video and first-party data to stabilise revenue in an AI-dominated landscape. Leadership admits the old referral model is broken, but sees subscriptions, better tech, and future AI licensing as the path back to meaningful digital growth.

IAB Europe Releases New Study on the Adoption of Addressability and Measurement Solutions Across Europe.

IAB Europe’s new Pan-European report shows that while most of the industry is familiar with addressability, true expertise is still concentrated in ad tech companies and agencies, leaving advertisers with the biggest knowledge gaps. The biggest challenges are cross-platform data access, strict privacy rules, and signal loss from cookie deprecation, alongside a clear need for standardisation across markets.

Adoption is rising for solutions like Data Clean Rooms, Unified IDs, contextual targeting, and seller-defined audiences, but measurement without cookies and inconsistent frameworks still hold companies back. The report stresses that moving the industry forward will require stronger education, clearer guidance, and more unified standards across Europe. 

Arena Group, BuzzFeed, USA Today Co, Vox Media join RSL’s AI content licensing efforts.

More major publishers, including BuzzFeed, Vox Media and USA Today Co, have joined the Really Simple Licensing Collective, a framework aimed at standardising how publishers license their content to AI systems.

RSL is collaborating with the IAB Tech Lab’s similar efforts, and both hope collective pressure will push AI firms toward fair compensation models. The group is now focused on scaling publisher participation globally before approaching AI companies, with a publicly available licensing agreement expected by year-end.

ChatGPT took Press Gazette content then said that could not have happened.

Press Gazette found that ChatGPT produced detailed data from behind its paywall, then gave a contradictory and misleading explanation claiming it had not accessed the site at all. The incident highlights how AI systems may be bypassing paywalls, scraping copyrighted content, and then hallucinating excuses when asked how they obtained it.

Industry experts noted that LLMs cannot meaningfully explain past reasoning, and that robots.txt offers little real protection since AI models may treat user prompts as permission to fetch paywalled content. The case sparked concern that OpenAI and others may be relying on opaque, loosely controlled data sources, raising fresh questions over licensing, ethics and enforcement.

Broadsign Acquires Place Exchange As The DOOH Category Hits Its Stride.

Broadsign has acquired Place Exchange, marking major consolidation in the growing digital out-of-home ad tech sector. DOOH is gaining programmatic momentum, but its targeting, measurement and creative needs differ enough from web and mobile that it still requires a specialised sell-side stack.

Most programmatic DOOH buying happens via deal IDs rather than open auctions, and the category spans diverse environments from retail screens to CTV-like displays. Rising interest from digital-native advertisers is accelerating demand, reinforcing why a dedicated OOH SSP remains necessary.

‘How AudienceMix Is Mixing Up The Data Sales Business.

AudienceMix is a new data-curation startup that helps marketers combine audience segments more efficiently by eliminating overlap and letting brands control how different data signals are weighted. Built on LiveRamp’s marketplace with over 8,200 syndicated audiences, it offers curated segments at a much lower CPM than typical off-the-shelf data.

The platform also helps niche data providers access demand they couldn’t reach on their own, while giving advertisers access to audiences unavailable elsewhere. Early adoption has been strong, and AudienceMix is now expanding its team, tech integrations and AI capabilities as it positions itself as a complementary rather than competitive player in the programmatic data landscape.

Ad Tech Briefing: Pragmatism, not idealism, will determine the fate of Google’s ad tech empire.

Judge Brinkema signalled in closing arguments that a forced divestiture of Google’s ad exchange or ad server is unlikely, favouring practical, enforceable remedies over sweeping structural changes. She repeatedly pressed the DOJ on timelines, feasibility and lack of detail, suggesting a behavioural-first approach with possible guardrails is more realistic.

Google argued the DOJ failed to justify divestiture or prove alternative remedies wouldn’t work, while the DOJ admitted it has no identified buyer. A ruling is expected in early–mid 2026, with an appeal almost certain, meaning any major structural outcome could be delayed until 2028.

▸ Week 47

• - EU’s Digital Omnibus eases ad tech burdens but strengthens Big Tech and AI agents
• - Publishers see Q4 uplift after a difficult year
• - The Atlantic intensifies blocking of AI-powered bot traffic
• - UK marketers boost 2026 ad budgets as demand stabilises
• - EU proposes simpler digital rules and new digital wallets
• - IAB Europe requests EDPB clarification on anonymisation after CJEU ruling
• - Wall Street questions the causes behind the ongoing programmatic “drama”
• - Google’s new RTB Control draws attention but no industry panic
  

The EU’s Digital Omnibus offers relief for ad tech, but hands more power to Big Tech and AI agents.

The EU’s new Digital Omnibus package aims to simplify digital regulation and reduce the administrative burden created by the GDPR, ePrivacy and the AI Act. It narrows and clarifies the definition of personal data and eases the treatment of pseudonymous identifiers, making data usage and measurement more workable for advertising.

The package also permits the use of certain personal data for AI model training under defined safeguards, a change that primarily benefits major technology and AI companies. Advertisers and ad tech players regain some of the measurement and optimisation capabilities lost after the GDPR, while the growing role of browsers and operating systems in privacy controls may weaken publishers’ position.

Overall, the package does not overturn the GDPR but softens its strict compliance culture.The practical effects are expected to materialise over the next 12–36 months.

Media Briefing: Tough market, but Q4 lifts publishers’ hopes for 2026.

Publishers are heading into 2026 with stronger-than-expected ad revenues, helped by solid Q4 programmatic performance and rising demand for premium video. Direct sales are softer, but many advertisers are already shifting budgets into early 2026, giving publishers unusually good visibility for next year.

AI summaries and economic uncertainty are still causing pressure on traffic and CPMs, though the fallout is milder than many feared. Overall, a healthier mix of PMP deals, premium video, and less traffic-dependent revenue streams is making publishers surprisingly optimistic about 2026.

Inside The Atlantic’s AI bot blocking strategy.

The Atlantic has created a scorecard to judge AI crawlers based on whether they send meaningful traffic or subscribers back, blocking any that provide little or no value. This system already led them to block one crawler that attempted more than half a million unauthorised visits in a week.

While some publishers block nearly all AI bots, The Atlantic only allows those that demonstrably drive traffic, subscriptions or come with licensing deals, though Google remains a special challenge because its AI usage is tied to search. The publisher hopes clearer rules plus tools like Cloudflare’s Content Signals will strengthen its negotiating position, even if major AI companies don’t fully comply.

Brand Activity Back on 2026 Plans as UK Marketers Boost Budgets.

UK marketers are surprisingly upbeat for 2026, with 65% expecting bigger budgets despite broader economic gloom and consumer weakness.  Performance spend was strong this year, but the ISBA survey shows a shift toward brand building next year, with UK marketers leaning far more brand-heavy than the global average.

Digital video and connected TV are set to be the biggest winners as linear TV and print continue to decline. AI is becoming central to media planning and optimisation, but concerns about transparency are pushing some marketers to consider outcome-based agency pricing models.

Simpler EU digital rules and new digital wallets to save billions for businesses and boost innovation.

The European Commission’s new digital package aims to cut admin and compliance burdens so businesses can focus more on innovation, potentially saving up to €5 billion in costs and unlocking €150 billion annually through European Business Wallets.

Its digital omnibus streamlines AI, cybersecurity and data rules, introduces simpler GDPR and cookie processes, and offers SMEs and mid-caps lighter AI compliance requirements and better access to regulatory sandboxes.

A new Data Union Strategy will expand access to high-quality data for AI while strengthening Europe’s data sovereignty. The European Business Wallet will give companies a unified digital identity to handle paperwork and cross-border operations more easily, supporting a more competitive and efficient EU economy.

IAB Europe Sends Letter to the EDPB on the Initiative to Organise a Stakeholder Event on Anonymisation and Pseudonymisation Following the CJEU Ruling in EDPS v. SRB.

A coalition of major European industry groups has urged the EDPB to ensure its upcoming workshop on anonymisation and pseudonymisation is practical, participatory and includes real-world use cases, following a CJEU ruling that clarified when pseudonymised data can be considered anonymous. They argue this is a key opportunity to create clear, operational frameworks that give companies legal certainty and support innovation across the EU economy.

Wall Street Wants To Know What The Programmatic Drama Is About.

Programmatic ad tech is tense right now because everyone is earning less, and the financial pressure is fuelling public finger-pointing between DSPs, SSPs and platforms like Google and The Trade Desk.  Several SSPs, including Magnite, PubMatic and Nexxen, reported sudden drops in spend from major DSPs in Q3, with many implying The Trade Desk’s OpenPath shift played a role.

At the same time, companies are using earnings calls to shape the narrative, redefining what counts as a DSP or reseller to position themselves more favourably. Despite the drama, the common thread is simple: margins are tightening, competition is intensifying and vendors are scrambling to defend their roles in a crowded, complex supply chain.

A Programmatic ‘Kill Switch’? Why Google’s ‘RTB Control’ Isn’t Sparking Panic.

Google has agreed to build an “RTB Control” tool that would let users strip all personal and pseudonymous data from bid requests, effectively acting as a kill switch for programmatic personalisation. The feature isn’t live, remains opt-in and won’t be finalised until at least early 2026, which is why the industry isn’t panicking yet.

Privacy experts say the opt-out nature and long timeline dampen urgency, though the settlement could inspire regulators in the US and EU to demand similar controls. While the tool sounds disruptive, many believe Google wouldn’t agree to it unless it knew the impact on its ad business would be minimal.

▸ Week 46

• - Publishers turn to paid audience acquisition to offset traffic declines.
• - IAB Tech Lab introduces the Agentic RTB Framework (ARTF) v1.0.
• - EU launches new investigation into Google’s ranking of news publishers.
• - Agentic bot traffic creates new headaches for publishers.
• - IAB Tech Lab unveils device attestation to combat CTV ad fraud.
• - Publishers shift from traffic anxiety to strategic focus in Q3 earnings.
• - First look: European Commission’s proposed digital law reforms.
• - New pay-per-article data platform offers publishers a 50% revenue share.
• - Daily Mail says Google’s AI Overviews have killed click-through rates.
• - Microsoft Prebid Adapter becomes available.
  

Media Briefing: Publishers turn to paid audience acquisition tactics to tackle traffic losses.

Publishers say the era of relying on “free” organic search traffic is fading fast, as Google volatility and AI tools cut deeply into referrals and shrink the audience they can monetise. To compensate, many are now turning to paid acquisition and traffic arbitrage, pulling marketing teams into broader audience-growth efforts even though the economics are often tight and unsustainable.

Execs admit they’re being pushed into buying traffic despite the long-term risk that AI search behaviour may eventually eliminate the need for users to click through at all. At the same time, AI is improving paid ad tools, allowing even smaller publishers to run low-budget campaigns with far better performance, helping offset some of the lost organic traffic.

IAB Tech Lab Announces Agentic RTB Framework (ARTF) v1.0 for Public Comment.

IAB Tech Lab has released the Agentic RTB Framework (ARTF) v1.0 for public comment, introducing a container-based architecture to speed up interoperability and data exchange across programmatic systems. The framework aims to cut bid request and response times by up to 80% by allowing DSPs, SSPs, agents, and enrichment tools to operate within the same data centre or virtual machine, reducing latency, compute costs, and energy use.

Industry leaders from Index Exchange, Chalice, and The Trade Desk say ARTF will unlock real-time agentic workflows, deeper bid enrichment, and more flexible, per-impression optimisation. ARTF also lays the groundwork for agentic trading standards like MCP and A2A communication, with public comments open until 15 January 2026. 

EU readies new investigation into Google over news publisher rankings.

Brussels is preparing a new DMA investigation into Google over allegations that it demotes publishers running sponsored or third-party promotional content, even as the US under Trump threatens retaliatory tariffs over EU digital enforcement. This adds to Google’s growing list of probes and multi-billion-euro fines, signalling the EU’s intent to keep tightening scrutiny of the company despite rising political tensions.

When bots look like buyers: agentic traffic causing new publisher headaches.

Agentic visitors, AI assistants like ChatGPT, Perplexity, and AI browsers, are hitting publisher sites in growing numbers, but because they mimic human behaviour, measurement systems often flag them as invalid traffic. This is already spooking advertisers: companies like Salon have had buyers shut off ad spend entirely after IAS or DV reports showed spikes in what looked like fraudulent visits.

Publishers warn that the real threat isn’t the traffic itself but the loss of advertiser trust, as AI crawlers blend into logs, trigger IVT alarms, and make impressions look non-human. Vendors say bot-blocking isn’t enough and that the ecosystem may ultimately need regulation forcing non-human traffic to self-identify, or publishers risk escalating losses as AI scraping accelerates. 

Future of TV Briefing: WTF is IAB Tech Lab’s device attestation tactic to combat CTV ad fraud.

IAB Tech Lab has introduced device attestation, a new method to fight CTV device spoofing by having the device itself verify its authenticity rather than relying on inferred signals. The system uses tokens issued through the Privacy Pass protocol, allowing verification firms to confirm legitimacy without collecting personal data, though checks are sampled to avoid slowing down ad delivery.

Apple and Amazon have already committed support, and streaming apps will need to adopt the newest OM SDK to participate. While not a cure-all for ad fraud, the industry sees it as a significant upgrade that could scale as more device makers and platforms join. 

Publishers swap traffic angst for strategy in Q3 earnings.

Publishers used Q3 earnings calls to stress long-term growth strategies rather than complain about declining search traffic, with many leaning into video, direct audience channels, and AI licensing to reduce dependence on Google referrals. People Inc. was hit hardest with a steep drop in search-driven traffic and a 3% decline in digital ad revenue, while most other major publishers — including the New York Times, USA Today Co., Dow Jones, and Ziff Davis — posted YoY digital ad growth.

Several companies said they’re increasingly insulated from search volatility thanks to off-platform distribution, stronger direct traffic, and rising marketer demand. At the same time, AI licensing deals are quickly becoming a key revenue pillar, with People Inc., News Corp, and USA Today Co. all signing agreements with OpenAI, Microsoft, or Perplexity to monetise content as AI platforms shift users away from traditional click-through models.

An early look at the European Commission's proposed digital law.

The European Commission’s upcoming Digital Package will overhaul and simplify major EU digital laws, with changes spanning GDPR, ePrivacy, the Data Act and AI Act. Key proposals include a single incident-reporting portal, higher breach-reporting thresholds, relaxed cookie consent rules, EU-wide DPIA standards, narrower definitions of special-category data, and confirmation that AI model-training can rely on legitimate interest.

The package also introduces new exemptions for AI development, clarifies when privacy notices aren’t required, tightens the definition of personal data, and adds targeted carve-outs to cloud-switching rules while strengthening protections for trade secrets. Several laws will be repealed or merged — including the Data Governance Act, Free Flow of Non-Personal Data Regulation, and Platform-to-Business Regulation — with core provisions absorbed into updated frameworks.

Publishers offered 50% revenue share in pay-per-article data platform for PRs.

Newsworthy, a new NLA Media Access service, lets PR and communications firms buy per-article audience and engagement data from nearly 500 UK newsbrands, with publishers receiving half of the revenue and setting their own prices. The pilot aims to gauge demand before potentially shifting to subscriptions, offering PR teams clearer insight into the impact of earned media while strengthening ties with publishers.

Daily Mail says Google AI Overviews have killed click-throughs.

Daily Mail says Google AI Overviews slash clickthrough rates by 80–90% when they appear, but the overall traffic impact remains small because AIO rarely triggers on the breaking-news keywords the publisher relies on. Still, with Google surfacing more videos and modules and less traditional link traffic, the Mail is doubling down on direct audiences and subscriptions while closely watching regulator action on Google’s search practices.

Microsoft Prebid Adapter Now Available.

Microsoft has launched its new Prebid.js adapter for Monetise customers, replacing the older AppNexus adapter with a standard OpenRTB-based model. The update is expected to improve signal passthrough and increase spend opportunities, and publishers are encouraged to test and implement the new msft adapter. Source: Microsoft Advertising Newsletter.

▸ Week 45

• - Associated Press deal cements Microsoft’s quiet rise in AI licensing
• - News Corp explores multi-LLM licensing playbook
• - Magnite remains unbothered by The Trade Desk’s SSP policies
• - IP address match rates are a joke – and it’s no laughing matter
• - Before AI can think for Immediate Media, it needs clean data to think with
• - IAB Tech Lab plans a ‘Programmatic Governance Council’ amid transparency rift
• - ID5 buys TrueData, marking its first-ever acquisition
• - The Trade Desk and PubMatic are done pretending deal IDs work
  

Media Briefing: Associated Press deal cements Microsoft’s quiet rise in AI licensing.

Microsoft is expanding its AI content marketplace, signing licensing deals with major publishers like Associated Press, People Inc., and USA Today Co. The initiative aims to create a pay-per-use system that compensates publishers fairly for their content while allowing them input in shaping the framework.

Industry leaders see Microsoft’s move as a positive shift toward respecting copyright and establishing a sustainable model for AI-driven content use, though the long-term success of this model remains uncertain. Strategically, Microsoft’s push is seen as an effort to strengthen ties with media companies and secure valuable content for its AI tools, positioning itself competitively against Google.

News Corp explores multi-LLM licensing playbook.

News Corp is exploring a multi-licensing strategy with several large language model providers, following its $250 million deal with OpenAI in 2024, as part of CEO Robert Thomson’s “woo and sue” approach — partnering with compliant AI firms while taking legal action against those using content without permission. The company is reportedly in talks with Google and Apple, aiming to balance collaboration with protection of its intellectual property amid growing AI-driven content use.

This shift reflects a broader industry trend toward non-exclusive, pay-per-use licensing models that allow publishers to monetise their data across multiple AI platforms. Meanwhile, News Corp’s lawsuit against Perplexity and participation in industry initiatives like IAB Tech Lab’s CoMP highlight publishers’ push to build frameworks that define how AI systems can legally and fairly access their content. 

Magnite Remains Unbothered By The Trade Desk’s SSP Policies.

Magnite reported strong Q3 results, with revenue up 11% YoY to $179.5 million, driven by growth in CTV (up 18%) and audio formats. CEO Michael Barrett downplayed any rivalry with The Trade Desk, praising its efforts to clean up the ad supply chain and noting that Magnite’s preferred supply path relationships have mitigated potential fallout from TTD’s OpenPath changes.

The company is also expanding its AI strategy through its acquisition of Streamr.ai and integration of new collaborative AI frameworks like AdCP into its products. However, Magnite is taking a tougher stance against Google, having filed an antitrust lawsuit alleging anti-competitive behaviour that harms independent ad tech players. 

IP Address Match Rates Are a Joke – And It’s No Laughing Matter.

A new Truthset report found that IP-to-email matches are accurate only 16% of the time and IP-to-postal matches just 13%, exposing major flaws in the data linking advertisers use for targeting and measurement. The study revealed huge inconsistencies between data vendors, widespread use of outdated or padded data, and poor representation of newer IP formats like IPv6.

Experts warn that advertisers prioritising scale over accuracy are fueling the problem, with many unaware of how unreliable their matching data really is. Unless the industry adopts standardisation, transparency, and collaboration, open-internet advertising risks ceding even more ground to walled gardens like Google and Meta, which don’t face these data quality issues. 

Before AI can think for Immediate Media, it needs clean data to think with.

Immediate Media is prioritising clean, unified data as the foundation for its AI strategy, focusing next year on improving data quality across subscriptions, audience, and e-commerce sources. The company has built a central data platform to power AI agents, starting with tools that help its sales team respond faster to briefs and aiming to expand into subscription growth and retention.

Its long-term goal is an AI-powered subscription model that predicts user behaviour and personalises engagement, similar to the Financial Times’ approach. While AI will support analytics and workflow automation, Immediate Media remains committed to human-led creativity in branded content, with most of its workforce now actively using AI tools.

Ad Tech Briefing: IAB Tech Lab plans a ‘Programmatic Governance Council’ amid transparency rift.

IAB Tech Lab is forming a Programmatic Governance Council to create clearer rules for transparency, auction integrity, and data standardisation across the open internet. The move follows growing friction between buy- and sell-side players after Prebid’s August update to how TIDs are handled, which reignited long-standing tensions over control and visibility in programmatic auctions.

Recent closed-door meetings among major ad tech companies explored a “grand bargain” — including single bid requests, multiple DSP bids, and simplified pricing — to restore balance between both sides. The new council aims to formalise collaboration between agencies, publishers, DSPs, and SSPs, ensuring shared technical standards and a sustainable framework for open-internet advertising.

Alt Identity Provider ID5 Buys TrueData, Marking Its First-Ever Acquisition.

ID5 has acquired TrueData to strengthen its position as a unified identity provider and tackle the fragmentation of digital identity across devices, platforms, and data sources. The merger combines ID5’s cross-device ID graph with TrueData’s online and offline data assets, expanding recognition to 1.5 billion users and 665 million households, while boosting ID5’s US presence and revenue by up to 40%.

The Trade Desk And PubMatic Are Done Pretending Deal IDs Work.

Despite the perception that programmatic advertising runs on automation, most PMP deals and deal IDs still rely on manual negotiations over calls and emails, leading to inefficiencies and limited scalability. To address this, The Trade Desk and PubMatic have launched an API-based integration using TTD’s Price Discovery and Provisioning (PDP) API, designed to standardise and automate deal-based transactions.

The new system introduces “commitment deals,” where budgets and campaign terms are contractually locked in from the start, ensuring both parties deliver on agreed terms. This initiative aims to eliminate fragmented communication, improve transparency, and make deal ID campaigns more reliable, particularly in fast-growing channels like CTV and streaming audio.

▸ Week 44

• - UK Ad Spend to Rise in Golden Quarter as LHF Comes into Effect
• - Media Briefing: Overheard at the Digiday Publishing Summit Europe
• - How Forbes is Using ChatGPT Referral Data to Create Audience Cohorts
• - Criteo and the Programmatic Plug-In Problem
• - The Sun Is Building an AI Agent for Its Programmatic Business
• - The Financial Times’ AI Paywall Drove Conversions Up 290%
• - IAB Europe’s Response to the Digital Fairness Act Consultation
  
  
  

UK Ad Spend to Rise in Golden Quarter as LHF Comes into Effect.

UK ad spend is forecast to hit £12 billion in Q4 2025, up 7.3 percent year-on-year, despite new restrictions on unhealthy food and drink advertising. Growth will mainly come from cinema and out-of-home channels, while TV spend continues to decline due to shrinking linear budgets, offset by a strong 17.2 percent rise in VOD.

Online formats will dominate the Golden Quarter, capturing 83% of all spend, driven by search, retail media, and digital video. Overall, the AA/WARC report projects total 2025 ad spend at £46 billion — up 8.2 percent — signalling a stable yet cautious market amid economic uncertainty. 

Media Briefing: Overheard at the Digiday Publishing Summit Europe, October 2025 edition.

Publishers at the Digiday Publishing Summit Europe expressed deep frustration and resignation over collapsing Google referral traffic, worsened by AI summarisation tools that replace clicks with snippets. Many said traffic losses since Google’s recent updates appear permanent, with some publishers reporting drops from 65% to 25% of total traffic.

Executives warned that smaller publishers face existential risk as “zero-click” search and AI tools erode the open web, while subscription models remain unviable for most. The consensus was that diversification is now essential, though many admitted they lack the resources or skills to adapt fast enough to survive. 

How Forbes is using ChatGPT referral data to create audience cohorts.

Forbes has seen a 40% drop in search referral traffic this year, but AI platforms like ChatGPT and Claude are offering new value through data insights rather than volume. Using tools like Semrush and Similarweb, Forbes analyses prompts leading to AI-driven referrals to build audience cohorts and understand which content, mainly lists, wealth, entrepreneurship, and investing, resonates most.

This insight has guided site updates, including personalised recommendations that boosted clickthrough rates by up to 300%. However, challenges remain as publishers must ensure AI tools accurately cite their reporting, with experts calling for new web standards to help signal verified content to AI systems. 

Criteo And The Programmatic Plug-In Problem.

Investors are increasingly anxious that AI agents could render the open web — and by extension, retail media vendors like Criteo — obsolete, as consumers shift product discovery and transactions into AI-driven environments. Criteo executives argue that affiliate-style models could underpin future AI commerce, allowing integrations between retailers, publishers, and AI platforms, though major players like OpenAI and Perplexity currently reject such monetisation.

Despite uncertainty, Criteo is positioning itself through partnerships with Google Search Ads 360 and Meta, expanding retail media into search and social channels. The company’s leadership insists AI agents won’t fully cannibalise commerce, but investors remain sceptical about how Criteo and similar firms will stay relevant in an “agentic” future.

News Corp-owned U.K. tabloid The Sun is building an AI agent for its programmatic business.

The Sun is developing its own AI agent to enable direct programmatic communication with buy-side AI systems as agentic media trading gains traction across ad tech and agency groups. EVP Dominic Carter said the move is driven by emerging standards like the Ad Context Protocol and growing adoption by firms such as Scope3 and WPP.

While other publishers are also experimenting with in-house AI models, The Sun has already streamlined its ad tech stack by cutting 86% of vendors and partnering directly with Ozone and The Trade Desk. Alongside this, the publisher is using AI to personalise its new subscription business and shift focus from page views to engagement, amid declining referral traffic from Google and AI-driven search summaries.

The Financial Times’ AI paywall drove conversions up 290%. Now it’s learning who stays.

The Financial Times is evolving its AI paywall from focusing solely on conversions to predicting which subscribers will stay long-term, using insights from loyal readers to refine acquisition. Since launching in January, the AI system has boosted conversion rates by 290% and lifetime value by up to 10%, though only among the 30 - 40% of users who consent to data tracking.

The AI tailors offers dynamically, from low-cost trials to premium tiers, based on behavioural data like reading frequency and content type, tightening access over time to drive more paid subscriptions. Next, the FT aims to merge its AI and dynamic paywalls responsibly, scaling what it’s learned while ensuring compliance and refining strategies across audiences and regions. 

IAB Europe Submits Response to the European Commission’s Public Consultation on the Digital Fairness Act.

IAB Europe’s response to the European Commission’s Digital Fairness Act consultation urges the EU to focus on enforcing and harmonising existing regulations rather than introducing new advertising rules. It emphasises clearer guidance, reduced duplication, support for self-regulation, and protection of compliant personalised advertising as vital to maintaining value for consumers and the EU economy.

▸ Week 43

• - Prebid.org clarifies Transaction ID updates
• - AWS introduces RTB Fabric cloud service for ad tech
• - Prebid Mobile: What’s new in SDK 3.0 and coming in 4.0
• - Publishers move toward agent-led ad operations
• - Google’s AdX starts offering post-auction discounts to agencies
• - Goodbye Privacy Sandbox – Google ends cookie alternative project
• - AI search reshapes how publishers are discovered
• - UK publishers see steady growth through revenue diversification
  
  
  

Prebid.org Clarifies Transaction ID Updates in Prebid.js.

Prebid.org clarified recent confusion around Transaction IDs (TIDs) in Prebid.js, originally introduced as an opt-in feature in version 8 (June 2023) due to legal and privacy considerations. Earlier in 2025, TIDs became contentious when some DSPs started requiring them for spend, prompting the Prebid Publisher Committee to make TIDs SSP-specific rather than global in version 10.9.

As most publishers haven’t upgraded yet, only about 1% of Prebid traffic currently uses the new logic, while the rest still rely on the global format. To increase flexibility, an upcoming update will let publishers choose between global or SSP-specific TIDs, reinforcing Prebid.org’s commitment to transparency and publisher control.

AWS Launches A Cloud Infrastructure Service For Ad Tech.

AWS has launched RTB Fabric, a new cloud service designed specifically for ad tech companies to reduce latency, simplify integrations, and cut data transfer costs by up to 80%. The service enables “single-digit millisecond” data transfers and faster partner connections, helping platforms like TripleLift lower engineering overhead and achieve faster auction performance.

Early adopters have reported 15 - 20% lower latency and up to 30% increases in ad spend and win rates after migrating workflows to RTB Fabric. While AWS recently faced a major outage, the company says RTB Fabric operates independently and aims to support future AI-driven programmatic innovations by freeing up infrastructure budgets for AI investments. 

Maximize Mobile Revenue with Prebid SDK 3.0 — and See What’s Next in 4.0.

Prebid’s webinar on 8th October highlighted the growing adoption of Prebid Mobile, now integrated into over 2,000 apps, and reviewed the progress made with SDK 3.0, including improved rendering, plugin support, and better iOS attribution capabilities.

WetterOnline’s case study showed that upgrading to SDK 3.0 and maintaining updates can drive measurable gains, with their team seeing up to a 10% CPM uplift. Key best practices include ensuring OMID compliance, verifying bidder vendor IDs, and properly implementing ATT signals for privacy compliance.

Looking ahead, SDK 4.0 will focus on easier integration, creative standardisation, and turning Prebid Mobile into a modular, developer-friendly platform that enhances transparency and flexibility for publishers.

Media Briefing: Step by step, publishers are building toward an agent-led ad business.

Publishers are moving beyond AI demos and now deploying agentic systems for real tasks like RFP interpretation, campaign planning, and pacing, with the long-term goal of enabling direct buyer–seller transactions without middlemen. The promise is higher transparency, fewer fees, and faster deals, but there’s still no transactional volume yet. Most publishers are still testing and training their agents.

Early adopters, including Permutive clients, are already using agents to streamline workflows and prepare for AI-driven media trading, supported by emerging standards like the Ad Context Protocol. Still, execs warn that first-generation agents will make rookie mistakes and that large-scale adoption will only happen if publishers build stronger ad products that can outperform platforms like Google and Meta.

Google’s AdX unit has begun striking deals with media agencies.

Google’s Ad Exchange has started offering post-auction discount programs to media agencies for the first time, marking a major shift from its historically closed approach. The initiative, launched in early 2025, provides tiered discounts based on spending thresholds (up to $100 million) and invites agencies to give feedback on new AdX features.

While the discounts are smaller than those from rival SSPs, they represent Google’s effort to rebuild relationships and transparency with buyers amid ongoing antitrust scrutiny in the U.S. Agencies welcome the change but remain cautious, viewing it as Google’s attempt to regain trust and competitiveness in a tightening programmatic landscape. 

Ad Tech Briefing: Farewell to Google’s Privacy Sandbox, we barely knew ye.

Google has officially shut down its Privacy Sandbox project, ending a five-year attempt to replace third-party cookies with browser-based privacy APIs after repeated delays, rewrites, and waning industry trust. Regulatory scrutiny, technical complexity, and a lack of market alignment ultimately doomed the initiative, leaving behind only partial APIs and a cautionary tale about the challenges of balancing privacy, performance, and competition in digital advertising.

In Graphic Detail: How AI search is changing publisher visibility.

Generative AI platforms like ChatGPT, Perplexity, and Google’s AI Mode are growing rapidly, but the AI-driven referrals they send to publishers still make up less than 1% of total traffic and don’t offset the steep decline in Google search visits. Some publishers are maintaining visibility in AI results, but most referrals lack conversion value, serving mainly as top-of-funnel exposure.

According to Semrush, improving AI visibility still follows standard SEO principles, though licensing deals with AI platforms are becoming the main way to guarantee placement and attribution. Meanwhile, AI tools are increasingly citing user-generated sources like Reddit and YouTube, diverting attention and traffic away from traditional publishers. 

Revenue Diversification Pays Off as UK Publishers See Continued Revenue Growth.

UK digital publishers saw a 3.4% YoY revenue increase in Q2, driven by strong growth in audio (+72.9%), video (+11.6%), subscriptions (+11.3%), and sponsorships (+15.1%), even as display advertising fell 7.4% and recruitment collapsed 90.5%. The findings highlight a clear shift toward diversified revenue models, with publishers prioritising new product development, cost reduction, and acquisitions to sustain growth amid declining ad performance.

▸ Week 42

• - AI royalties for small and midsize publishers: collective licensing’s next big play
• - Marketers Increase Budgets Cautiously: IPA Bellwether Q3 2025
• - Google offers search fix as EU line looms
• - Italian news publishers demand investigation into Google’s AI Overviews
• - Media Briefing: Why some publishers are flipping their position on whether to block AI bots
• - The Trade Desk’s Auction Evolutions Bring High Drama To The Prebid Summit
• - Taboola expands performance platform with major publisher partnerships
• - Inside PubDesk, The Trade Desk’s New Dashboard That Shows What Buyers Actually Care About
• - Slow digital growth sees Reach revenue fall in third quarter
  
  
  

AI royalties for small and midsize publishers: collective licensing’s next big play.

Enterprise large language models (LLMs) using retrieval augmented generation (RAG) are creating new royalty opportunities for small and midsize publishers by licensing quality content for AI training and use. Dow Jones’ Factiva has led the way, onboarding around 5,000 publishers to its AI-licensed content marketplace and ensuring transparent, usage-based payments through its API.

The focus is currently on B2B licensing for enterprise clients, but Factiva aims to expand into negotiating collective deals with consumer-facing LLMs in the future. Similar initiatives from organisations like the UK’s Publishers’ Licensing Services (PLS) and the US Copyright Clearance Center (CCC) are establishing frameworks that let smaller publishers earn recurring revenue when their content is used by private or specialised LLMs.

Marketers Increase Budgets Cautiously: IPA Bellwether Q3 2025.

UK marketing budgets rose for a second consecutive quarter in Q3 2025, though growth slowed to a modest +3.6% amid “market and economic uncertainty” and “cashflow preservation efforts.” Events and direct marketing led the increases, while main media and sales promotions saw declines, reflecting brands’ continued focus on measurable, short-term ROI.

“It’s great to see that budgets for events are up,” said Fiona Salmon of Mantis, noting brands’ renewed focus on face-to-face engagement, while RAPP’s Gabby Ludzker praised marketers for “not succumbing to the political and economic doom.” AI remained a central theme: Onetag’s Emma Lacey warned that “humans must remain central” in applying AI responsibly, while PubMatic’s Emma Newman called AI’s democratisation “a defining force” that will reward early adopters.

Adform’s Phil Acton emphasised that “channels don’t work in isolation,” urging marketers to integrate AI-based identity tools for flexible, cross-channel engagement. Meanwhile, Digital Envoy’s Vinod Kashyap highlighted the urgent need for “reliable and trustworthy methods of targeting and measurement” in video and CTV advertising.

LoopMe’s Stephen Upstone observed that marketers increasingly seek “more controlled ecosystems” like in-app environments, while Launch’s Jaye Cowle warned that neglecting market research could trap brands “in marketing assumptions.” Finally, OpenX’s Joseph Worswick noted that “a broader momentum is building across the industry,” driven by AI-powered efficiencies and smarter, more strategic marketing investment. 

Google offers search fix as EU line looms.

Google has submitted new concessions to EU regulators to avoid an antitrust fine under the Digital Markets Act, promising major changes to how its search results display rival services. The updated proposal follows criticism that Google’s earlier plan still favoured its own products like Shopping and Flights, with the company now pledging to give third-party search providers equal visibility through dedicated result boxes.

Italian news publishers demand investigation into Google’s AI Overviews.

Italian news publishers, led by FIEG, have filed a complaint to Agcom arguing that Google’s AI Overviews feature is a “traffic killer” that violates the EU’s Digital Services Act by reducing publisher visibility, ad revenue, and media diversity. Coordinated with similar efforts across Europe, the move seeks an EU investigation as studies show AI Overviews can cut clickthroughs by up to 80%, while favouring Google-owned content like YouTube.

Media Briefing: Why some publishers are flipping their position on whether to block AI bots.

Publishers are rethinking their once firm stance on blocking all AI bots, as many now see potential value in allowing certain AI crawlers like ChatGPT and Perplexity to access their content for visibility, attribution, and future monetisation. Executives told Digiday that blocking all bots may be “self-defeating,” with some now differentiating between training bots and AI search bots that can drive referral traffic.

Tools from Cloudflare, Tollbit, and DataDome are helping publishers track and assess bot activity more precisely, while discussions have shifted from “always block” to nuanced, case-by-case strategies. Meanwhile, the UK’s Competition and Markets Authority has begun scrutinising Google’s AI search features, after the Professional Publishers’ Association warned that AI Overviews boost visibility but reduce traffic - a “crocodile phenomenon” where impressions rise while clicks fall.

The Trade Desk’s Auction Evolutions Bring High Drama To The Prebid Summit.

At the Prebid Summit in New York, The Trade Desk (TTD) detailed its new OpenAds and PubDesk products, positioning them as tools to promote transparency and fairness in auctions while reigniting tensions with the Prebid community. OpenAds, TTD’s forked version of Prebid, will require Transaction ID (TID) sharing, unlike Prebid’s opt-in model, and includes features like Auction Audit and Auction Code Attestation to let publishers verify fair bidding and detect bidstream tampering.

CEO Jeff Green defended TTD’s move, arguing that “the auction itself isn’t inherently a sell-side thing” and that OpenAds aims to “not perpetuate the legacy that Google started” of manipulating auctions. However, many publishers and SSPs remain sceptical, viewing TTD’s actions as an attempt to control more of the supply chain despite its claims of buy-side neutrality, prompting heated exchanges between TTD and Prebid leadership about who truly represents transparency in ad tech.

Taboola expands performance platform with major publisher partnerships.

Taboola has expanded its Realize performance advertising platform to include display inventory through new partnerships with major publishers like TIME, Gannett, and Slate, allowing advertisers to reach audiences beyond native formats. Powered by its AI-driven performance engine, the move supports Taboola’s broader strategy to diversify ad placements, strengthen publisher relationships, and deliver sustained growth after reporting $1.82 billion in revenue and 12% year-over-year growth.

Inside PubDesk, The Trade Desk’s New Dashboard That Shows What Buyers Actually Care About.

The Trade Desk’s new PubDesk dashboard aims to give publishers deeper insight into how buyers value their inventory, bid pricing, and supply path efficiency — not to “go to the sell side,” said Mike O’Sullivan, its GM of product. Available to publishers using OpenPath, PubDesk visualises spend, take rates, and bid duplication across SSPs, helping them identify inefficiencies and understand how much of each advertiser dollar reaches them.

It also benchmarks publisher performance against market trends, easing anxiety over fluctuations caused by seasonality or wider market shifts. While the tool offers recommendations to improve media quality and monetisation, O’Sullivan said it’s optional — “we’re focused on clean, efficient supply paths,” not controlling publishers’ operations.

Slow digital growth sees Reach revenue fall in third quarter.

Reach’s digital revenue rose 2% in 2025 despite falling Google referrals and a 1% drop in page views caused by AI Overviews and algorithm changes, while overall revenue declined 2.5% due to a 3.9% fall in print. The publisher is restructuring its newsroom, launching video initiatives and its first digital subscriptions to offset print losses and maintain profitability amid continued volatility in referral traffic.

▸ Week 41

• - Advertisers return to news media
• -  Advertisers push auction-transparency standards
• - CleanTap shows how easy CTV spoofing is
• - Concurrent Streams API, explained
• - Publishers & tech move to weekly AI talks
• - Index Exchange launches sell-side data marketplace
• - Google remedies: complex realities
• - The Trade Desk’s new wrapper under scrutiny
  
  
  

Why advertisers are quietly returning to news-driven media channels. 

Brand safety is effectively about brand suitability, and the threshold is shifting quickly in a highly politicised climate. DoubleVerify reports that advertising on news sites drives nearly 10% more engagement than on non-news sites; DV also launched its News Accelerator and more flexible, AI-assisted keyword tools.

In a year without a presidential election, with better tools and rising cost pressures, advertisers don’t want to leave reach on the table, with some allocating 10–30% of budgets to news publishers (up from ~8–15% last year). Many are re-entering previously avoided environments — including Fox News, CNN, and Reddit — often with a “bipartisan” approach that balances buys across audiences.

Advertisers Push Big Tech to Adopt Standards for Transparency in Ad Sales. 

Major advertisers and trade bodies have proposed MRC transparency standards for digital ad auctions, where about 80% of sales occur in closed-loop systems run by Big Tech. Platforms that adopt would disclose the auction type, how winners are chosen, and what drives pricing (fees, discounts, floors), and announce material changes; adopters could seek new MRC accreditation.

The move arrives amid regulatory scrutiny and court orders pushing Google to disclose more; Meta and Amazon joined the working group, while Google declined.  Advertisers hope clearer rules give leverage beyond budget threats and may reconsider spending with platforms that don’t comply. Sceptics note the standards are voluntary—MRC can’t compel adoption—so transparency without mandates could give false confidence while platforms still set their own rules.

CleanTap Says It Easily Fooled Programmatic Tech With Spoofed CTV Devices.

CleanTap says it spoofed CTV devices (Raspberry Pi + dummy HDMI) and, over 10 days, its fake traffic was accepted into live auctions and actually bought, with ads from 54 brands appearing on the device. Although third-party verification flagged the impressions as invalid, platforms still delivered and transacted them; it’s unclear whether advertisers were charged.

The test used blatantly suspicious signals—data-centre IPs in Ashburn, VA and even a user-agent string stating “I’m a bot”—highlighting gaps in pre-bid screening and over-reliance on UA/IP checks. CleanTap argues systems should “assume counterfeit until verified” and build upstream verification into the pipes rather than defaulting to inclusion. For buyers, the piece urges more direct/curated supply paths, more challenging questions for partners about IVT filtering and make-goods, and default always-on protections from platforms.

Future of TV Briefing: WTF is IAB Tech Lab’s Concurrent Streams API?

IAB Tech Lab’s Concurrent Streams API lets streaming services report real-time live-event viewership to the programmatic stack (DSPs, SSPs, ad servers). It’s designed to help the supply chain react to sudden audience spikes (QPS limits, daily caps) and understand how much inventory is genuinely for sale.

Responses can be broken out by region and by ad-insertion mode (client-side vs. server-side), with Server-Guided Ad Insertion counted under SSAI. The media company can control access to the data, and the counts represent audience available for programmatic sales rather than an independent “truth.” This is phase one of the Live Event Ad Playbook; a Forecasting API is planned next, with details still to come.

From walls to frameworks: Publishers and tech giants push weekly talks on AI content use.

The IAB Tech Lab LLM working group is moving to weekly meetings to accelerate standards for how AI uses — and pays for — publisher content; Amazon, Google, Microsoft and Meta participated, while OpenAI and Perplexity did not.  The core tension remains “block vs. license”: some publishers want to deny RAG access to force deals, others fear being shut out of negotiations.

Near-term work centers on an API framework (access tiers, controls, measurement) and stronger content taxonomies so AI/search can cite correctly when access is allowed.  Infrastructure players like Cloudflare and Fastly are becoming gatekeepers, with bulk robots updates and Really Simple Licensing to encode machine-readable terms. The conversation is global (Germany, UK), and publishers are calling for a neutral, industry-wide standard — not vendor-led — including robust AI-crawler identification and management.

Index Exchange Launches A Data Marketplace For Sell-Side Curation.

Index Exchange launched its Data Vendor Ecosystem, a marketplace that brings third-party datasets to the sell side and complements Index Marketplaces.  Curators (agencies, publishers, intermediaries) can select segments from partners such as Experian, Audigent, DoubleVerify, IRIS.TV, Peer39 and Proximic and activate them into deal IDs across any DSP without bespoke integrations.

The pitch is SSP proximity to publisher data: SSP-led curation and “sell-side decisioning” are positioned as more attractive than DSP data markets. Index says it charges no separate data/curation fees for this marketplace — only its usual media rev share — to improve fee transparency and potentially lower all-in costs. The focus is on scale and speed with “off-the-shelf” data products, signalling that sell-side curation is becoming a core element of programmatic plans.

Ad Tech Briefing: A Google breakup sounds ideal, but the realities are much more complicated.

The DOJ’s blueprint is unusually aggressive: real-time AdX access via Prebid, open-sourcing DFP’s auction logic, a 10-year post-divestiture ban on operating an exchange, escrowing revenues, and independent sharing of DFP data.

Google counters that such oversight would freeze innovation and disproportionately harm publishers, pointing to Judge Mehta’s reluctance to impose structural remedies in the search case. Publishers see potential for more competition but worry remedies will land too late as AI overviews, walled gardens and zero-click models reshape demand.

Per Digiday’s sources, the most likely outcome is a hybrid fix—partial carve-outs plus strong data-access mandates, guardrails and independent oversight—rather than a full breakup. Delays and appeals could blunt the impact, and if the market keeps shifting, even robust remedies may end up more symbolic than transformative.

Can Publishers Trust The Trade Desk’s New Wrapper?

Prebid.org scrapped universal TIDs (v10.9), igniting a buyer–seller fight over deduplication versus publisher control. The Trade Desk responded with OpenAds, a forked Prebid wrapper that retains universal TIDs, plus PubDesk to show publishers buyer signals and “the truth of what we spent.” TTD pitches a “high-integrity” auction and says it will keep buying through existing wrappers.

For publishers, this could mean more transparency, but it’s also a price-discovery move that may compress CPMs, and yet another wrapper adds operational complexity and potential latency. TTD says it won’t do yield management (it isn’t an SSP) and plans to open-source parts of OpenAds/PubDesk—but the real impact won't be clear until controlled testing.

▸ Week 40

• - Inside The Economist’s plan to grow revenues in a post-search, AI-driven future.
• - Trade Desk outlines buyer-side innovations reshaping the open internet.
• - Perplexity launches a revenue-share model with major publishers.
• - Key takeaways from IAB Tech Lab’s Signal Shift West Coast event.
• - AI competition intensifies as platforms race from standards to marketplaces.
  
• - Former FTC commissioner warns against targeting teens online.
• - Mastercard enters the ad business with commerce-driven data solutions.
• - AppsFlyer and Roku team up to improve CTV campaign measurement.
• - High-attention media proves more profitable for advertisers.
  

   

Inside The Economist’s plan to grow revenues in a post-search, AI-driven future.

The Economist is shaping a post-search strategy to protect itself from AI disintermediation by doubling down on video, audio and direct reader relationships, while refusing to license content to AI firms. Its new long-form video series, Insider, gives subscribers access to senior editors and debates, offering content that’s harder for AI to replicate and opening new ad opportunities.

At the same time, the publisher is investing in its in-house AI Lab to build interactive, subscriber-focused products, including a proprietary chatbot that draws on its archives. The brand is also working to convert its 70 million social followers and millions of registered free users into paying subscribers, using registration walls and niche Substack newsletters as experimental funnels.

With 1.25 million subscribers and £368.5 million in annual revenue, The Economist remains relatively insulated from traffic loss, but sees growing advertising as key to its future. Its goal is to remain differentiated, relevant to younger audiences, and resilient in an AI-driven information economy. 

The open internet 2025, part 2: Buyer innovations to change the ad market for good.

The Trade Desk argues that a healthy digital advertising market depends on transparent price discovery, and recent advances in AI have accelerated their ability to clean up inefficiencies in the supply chain. Their OpenPath initiative has reallocated spend away from resellers who rely on duplication and obfuscation, improving transparency and competition but also sparking resistance from some SSPs and publishers.

The recent modification of Transaction ID (TID) by certain resellers, which breaks with OpenRTB standards, is viewed as an attempt to obscure supply paths and disadvantage premium publishers. In response, The Trade Desk is launching OpenAds, a transparent auction system paired with OpenPath, along with PubDesk to give publishers clearer demand insights, reinforcing their commitment to fair auctions and resisting reseller practices that undermine efficiency.

Perplexity launches AI subscription revenue-share scheme for publishers.

Perplexity has launched Comet Plus, a $5 subscription within its AI-powered Comet browser, giving users access to paywalled content from publishers including CNN, Condé Nast, Fortune, The Los Angeles Times, The Washington Post, Le Monde and Le Figaro. The service allows AI assistants to perform tasks on partner sites and generate answers informed by their journalism, while 80% of subscription revenue is shared with publishers based on visits, citations and agent actions.

Perplexity framed the programme as a fair model for AI-era content use, contrasting with ongoing lawsuits from News Corp, Yomiuri Shimbun, Encyclopedia Britannica and Merriam-Webster accusing it of unauthorised content use. Condé Nast and others emphasised that the scheme ensures quality journalism is properly valued in AI-driven environments, while also allowing publishers to maintain direct relationships with their audiences. 

What you missed at Signal Shift West Coast.

IAB Tech Lab’s Signal Shift West Coast 2025 focused on privacy, addressability, and solutions for a post-cookie world, with deep dives into Trusted Server, Privacy Enhancing Technologies (PETs), and evolving regulations. Trusted Server was presented as a publisher-controlled, open-source ad router that improves performance, transparency, and monetisation while reducing third-party browser calls.

Presentations also highlighted AI-powered ID-less targeting, which demonstrated stronger performance than cookie-based methods, and raised urgent concerns about upcoming children’s privacy regulations that will likely standardise digital consent at age 18. The event underscored that privacy and addressability can coexist through innovation, collaboration, and standards, with Tech Lab positioning itself as a guide for the industry’s transition. 

Media Briefing: From standards to marketplaces: the AI ‘land grab’ is on.

The AI licensing and content monetisation space is rapidly becoming crowded, with trade groups, tech giants, CDNs, and startups all pitching marketplaces and standards to publishers. Executives say they’re flooded with proposals — more than a dozen so far — reflecting both the hype and real potential to turn LLMs’ reliance on quality content into sustainable publisher revenue.

Microsoft’s pilot AI marketplace is drawing the most attention, while Cloudflare, Fastly, Perplexity, and startups like Prorata.ai and Tollbit are also vying for relevance. Publishers welcome the momentum but remain cautious, stressing the need for clear standards, minimal middlemen, and genuine financial commitment from major LLM players before the model can truly deliver. 

Advertisers Probably Shouldn’t Target Teens At All, Cautions Former FTC Commissioner.

Former FTC Commissioner Alvaro Bedoya warned advertisers at Programmatic IO that targeting children and teens online, especially through AI chatbots, poses serious ethical and regulatory risks. He criticised social media and generative AI platforms for exploiting young users’ attention without adequate safety measures, highlighting cases where chatbots encouraged suicidal behaviour or posed as therapists.

Bedoya urged advertisers to avoid funding engagement-driven platforms that prioritise keeping minors online, drawing parallels to the harms of social media. Beyond youth concerns, he also questioned invasive data practices for adults and argued that the industry’s reliance on consent-based targeted advertising is fundamentally flawed.

Powering smarter and more personal advertising with Mastercard Commerce Media.

Mastercard has launched Mastercard Commerce Media, a global digital media network that leverages its permissioned transaction data, trusted reputation and wide consumer reach to deliver personalised, measurable advertising. With 25,000 advertisers and access to 500 million enrolled consumers, the platform uses insights from over 160 billion annual transactions to drive up to 22x return on ad spend across categories like retail, travel and dining.

Strategic partnerships with Citi, WPP, American Airlines and Microsoft strengthen its scale and integration, including plans to embed the network into AI-driven commerce experiences. Unlike traditional retail media, Mastercard Commerce Media offers end-to-end attribution across in-store and online purchases, providing advertisers, publishers and consumers with transparency, personalisation and stronger engagement. 

AppsFlyer and Roku’s New SRN Integration Will Shed Light On CTV Campaign Impact.

Roku and AppsFlyer have launched a new self-reporting network (SRN) integration to help mobile marketers better measure the impact of CTV ads across Roku’s platforms. The upgrade expands beyond app install campaigns to include Roku Ads Manager inventory, offering advertisers access to improved probabilistic signals from Roku’s 90 million-household graph.

AppsFlyer’s two-way SRN can now both send and receive conversion data, enabling more accurate targeting, multitouch attribution and performance insights for verticals from gaming to ecommerce. Early tester Mistplay said the integration makes proving ROI far easier, allowing marketers to justify larger CTV budgets and experiment with creative campaigns with greater confidence.

High-attention media delivers greater profits for advertisers.

A new study by Newsworks, Lumen and Peter Field shows that high-attention media like news brands and TV deliver stronger business outcomes, including a 17% uplift in brand effects and 12% higher market share growth. Digital news brand ads gained 40% more attention than non-news sites, translating into significant brand awareness, consideration and action intent increases.

▸ Week 39

• - Publishers seek alternatives to offset Google search losses
• - Programmatic tools inspire IAB Tech Lab’s new AI initiative
• - IAS to be acquired by Novacap for $1.9B
• - Microsoft to launch AI content marketplace for publishers
• - The Trade Desk & Acxiom expand UID2 collaboration
• - Publishers weigh what Google’s ad tech breakup could deliver
• - Curation evolves from static deals to real-time precision

Media Briefing: Publishers turn to other platforms to offset losses from Google search. 

Publishers are scrambling to offset traffic losses from Google search after AI Overviews, with Reddit seen as the most promising alternative thanks to its organic reach and community-driven engagement, though it’s hard to scale. Pinterest remains useful for discovery and niche traffic, but it has a history of underwhelming results from its new features, and referrals are steadily declining.

Facebook has unexpectedly resurfaced as a strong traffic driver, but execs stressed its unreliability and lack of true audience ownership. Email delivers high-value traffic, yet publishers doubt it can sustain long-term growth, pushing them to invest more in product and engineering. 

How Programmatic Tools Provide Inspiration for IAB Tech Lab’s New AI Initiative. 

The IAB Tech Lab’s new AI Content Monetisation Protocols (CoMP) Working Group aims to help publishers protect and monetise their content in the age of AI by creating standards for blocking bots and enabling licensing frameworks. Its first priority is to give publishers stronger tools to restrict unauthorised scraping, going beyond robots.txt to firewalls and bot classification systems.

The second step is to establish a marketplace where publishers can license content to AI firms, borrowing concepts from programmatic trading but reversing the buyer–seller dynamic. However, AI companies have largely refused to engage so far, raising concerns that ignoring this initiative could trigger a “doom cycle” where less publisher content weakens both advertising and AI model outputs.

IAS to be Acquired by Novacap for $1.9 Billion to Further Support Its Strategic Goals.

Integral Ad Science (IAS) will be acquired by private equity firm Novacap in an all-cash deal valuing the company at $1.9 billion, or $10.30 per share — a 22% premium to its prior closing price. Once completed by the end of 2025, IAS will become a private company, continuing under its current brand while leveraging Novacap’s support to accelerate AI-driven growth.

Microsoft to Launch Marketplace for Publishers to Sell Content to AI Companies.

Microsoft is launching a Publisher Content Marketplace (PCM) that will let select publishers license their content for training Microsoft’s Copilot AI, with plans to expand access and refine pricing and policies over time. The move comes amid growing legal battles over AI’s use of creative works, with content marketplaces and licensing deals emerging as potential solutions to balance innovation with fair compensation for creators.

Media Briefing: Publishers turn to other platforms to offset losses from Google search. 

Acxiom and The Trade Desk have expanded their partnership with True Intelligence, a product that links TTD’s UID2 identity framework and Kokai AI platform to Acxiom’s consumer data, creating a live feedback loop between ad impressions and real-world sales. Unlike walled garden solutions, it lets advertisers measure incrementality across the open internet and CTV with transparency, access to log files, and integration with their own first-party data.

Remedies vs reality: Publishers weigh what Google’s ad tech break up could really deliver.

Publishers see potential AdX divestiture and escrow settlements as long-overdue remedies, but fear they may come too late, as AI Overviews and shifting traffic patterns are already gutting referral revenue. While many welcome payouts or divestiture as compensation for years of monopolistic practices, they remain wary of disruption from forced ad server changes and sceptical that any remedy can undo a decade of lost value.

Some argue Google must maintain GAM even if AdX is split off, to avoid leaving publishers stranded during transition. Ultimately, the debate reflects both hope for financial relief and deep cynicism that structural fixes may only buy time against AI-driven upheaval.

The Evolution of Curation: From Static Deals to Real-Time Precision.

Sell-side curation has transformed programmatic advertising by replacing static Deal ID setups with real-time, AI-powered packaging of inventory, enabling faster decisioning, stronger outcomes, and greater efficiency for buyers and DSPs. By leveraging advanced infrastructure, metadata, and adaptive signals, it eliminates “burn and learn” inefficiencies, improves ROI, and positions curation as a central driver of precision in the open internet.

▸ Week 38

• - The Rundown: Recapping Digiday’s four onstage interviews during DMexco 2025
• - Why The Hill credits growing engagement for its social traffic bump
• - How Encryption Keys Could Resolve The TID Furor
• - IAB Europe: First Impact of AI on Digital Advertising Report
• - Media Briefing: Overheard at the Digiday Publishing Summit, Google search edition
• - Magnite Files Lawsuit Against Google
• - A Protocol Buffers standard for OpenRTB
  
  
  

The Rundown: Recapping Digiday’s four onstage interviews during DMexco 2025.

At DMEXCO in Cologne, Digiday hosted fireside interviews covering themes like commerce evolution, programmatic curation, the rise of transaction data, and AI’s role in creativity and engagement. Criteo’s CEO Michael Komasinski stressed adopting an agency mindset, AI’s impact on product search, and the need for better measurement standards to unlock e-commerce growth.

Magnite’s Julie Selman highlighted programmatic curation as a way to package premium inventory, improve transparency, and use AI for efficiency and sustainability. PayPal’s Mark Grether announced a partnership with Google to leverage transaction data for targeted ads, while Snap’s Valentia Culatti showcased AI and AR tools driving authentic Gen Z engagement.

Why The Hill credits growing engagement for its social traffic bump.

The Hill’s social traffic rose 20% year-over-year from September 2024 to September 2025, driven by stronger engagement and a renewed focus on political coverage. The publication has leaned into direct interaction with readers on platforms like Reddit, refuting misinformation and encouraging staff to post from personal accounts.

Reporter-creators like Cate Martel have helped boost reach, with The Hill now surpassing 2 million YouTube followers and 200,000 on TikTok. Rather than chasing clicks, The Hill is positioning social media as a tool for brand recognition, credibility, and loyalty in preparation for a “zero-click” future shaped by AI summaries. 

How Encryption Keys Could Resolve The TID Furor.

Prebid’s recent update to transaction IDs (TIDs) has sparked backlash, with publishers and buyers clashing over transparency versus data exposure. Raptive has proposed encrypted TIDs (eTIDs), which would only be accessible to trusted DSPs with an encryption key, giving publishers more control over sensitive auction data.

The plan requires IAB Tech Lab to add a new OpenRTB field and would involve reciprocal data sharing, with DSPs providing bid insights in exchange for decryption keys. While concerns exist about complexity, Raptive argues de-encryption can be done in batches and believes this compromise balances publisher protection with buyer needs for transparency. 
 

IAB Europe Releases First Impact of AI on Digital Advertising Report Revealing Widespread Adoption, Rising Investment, and Urgent Calls for Governance.

IAB Europe has released its first Pan-European Impact Report on AI in digital advertising, showing that 85% of companies already use AI, mainly for targeting and content generation. Most firms plan to maintain or increase investment, though publishers report fewer direct revenue gains compared to ad tech companies and agencies.

Key challenges include inconsistent governance, lack of expertise, and privacy concerns, despite widespread adoption and reported KPI improvements. The report highlights the need for clear frameworks, training, and responsible deployment, with IAB Europe’s AI Working Group set to develop practical guidance and collaborative solutions.

Media Briefing: Overheard at the Digiday Publishing Summit, September 2025 Google search edition.

At the Digiday Publishing Summit in Miami, media executives voiced continued frustration over steep declines in Google referral traffic, worsened by the rollout of AI Overviews in search. Publishers described the drop as sudden and dramatic, with little clarity or support from Google representatives.

Many see Google prioritising competition with OpenAI and Perplexity over maintaining strong publisher relationships, further eroding trust. Despite the gloom, some publishers reported traffic recovery in niche and high-intent areas, suggesting opportunities remain for authoritative content even as search dynamics shift.
 

Magnite Files Lawsuit Against Google.

Magnite has filed a lawsuit against Google, seeking damages after a U.S. District Court ruling in April 2025 found Google had willfully engaged in anticompetitive practices to maintain monopoly power in the ad server and exchange markets. 

The complaint argues Google’s conduct stifled competition and harmed publishers, advertisers, and independent players like Magnite, which says it looks forward to a more competitive and innovative open-web ecosystem.

A Protocol Buffers standard for OpenRTB.

OpenRTB, which previously relied on JSON for human-readable programmatic ad transactions, is introducing Protocol Buffers as a new standard to improve speed, efficiency, and integration. JSON required each company to maintain its own parsing and validation code, while Protocol Buffers streamline this process, cutting message size by about 50% and reducing read/write times by nearly half.

The new standard also formalises extensions, prevents schema collisions, and allows companies to share custom implementations more easily. While JSON remains valid and human-readable, Protocol Buffers provide type safety, lower maintenance costs, and better performance at the massive scale of programmatic advertising.

▸ Week 37

• - Media Briefing: The Trade Desk bends under rising competition
• - Criteo and Google announce onsite retail media integration
• - Ad-supported SVOD’s UK reach has tripled, says IPA
• - Reddit launches new tools for publishers
• - Ad Tech Briefing: Google, the ‘Teflon monopolist,’ faces more challenges
• - IAB one-pager on incrementality in commerce media
• - Prebid.js impacted in major NPM supply chain attack
• - Shaping the future of attribution technology
  
  

Media Briefing: Rising competition is making The Trade Desk bend a little, say OpenPath publishers.

The Trade Desk has shifted its approach with publishers, making OpenPath deals more flexible and financially appealing after initial resistance. Facing revenue slowdowns, stock declines, and rising competition from Amazon and Google, TTD is now prioritising closer collaboration to secure premium inventory.

Publishers report better terms, smoother dealmaking, and higher CPMs, with some seeing increases from $1.14 to $1.46 and incremental revenue without cannibalising SSP demand. This evolution signals a strategic recalibration: instead of dictating terms, TTD is courting publishers directly to maintain its position in an increasingly competitive DSP market. 

Criteo and Google Announce Onsite Retail Media Integration.

Criteo has become Google’s first onsite retail media partner, integrating with Google Search Ads 360 to connect its 200+ global retailers with brand demand, initially through a limited beta in the Americas. The partnership aims to expand globally, offering advertisers unified measurement, greater transparency, and incremental impact while helping retailers grow their media programs and attract new budgets in the rapidly expanding $204B retail media market.

Ad-Supported SVOD’s UK Reach Has Tripled Since Last Year Says IPA.

Ad-supported SVOD usage in the UK has surged, with 30% of adults now engaging weekly—triple last year’s figure—driven largely by Amazon Prime Video’s ad rollout and Netflix’s ad-tier strategy. This growth is helping offset the decline in traditional commercial TV reach, though fragmentation means advertisers must plan more carefully across BVOD, SVOD, and online video.

Smartphones have overtaken TV sets as the primary device for consuming ad-supported media, with mobile now accounting for 40% of viewing time and 50% among 16–34 year-olds. Meanwhile, the 55+ demographic shows strong growth in ad-supported viewing, representing both the biggest missed opportunity and a major untapped market for advertisers, given their substantial consumer spending power. 

Reddit launches tools for publisher to track and share stories.

Reddit has expanded its Reddit Pro suite with free tools that let publishers track article performance, sync RSS feeds, and use AI suggestions to share stories in relevant communities. The platform, already tested with outlets like The Atlantic and NBC News, is also improving the reader experience and shifting subreddit metrics to highlight recent activity over total membership.

Ad Tech Briefing: Google, the ‘Teflon monopolist,’ braces for even more challenges.

September 2025 has brought Google intense legal scrutiny, with mixed outcomes in its U.S. and European antitrust battles. In the U.S., Judge Amit Mehta stopped short of forcing a breakup, instead imposing narrower behavioral remedies such as limits on exclusivity and greater transparency in ad auctions.

Meanwhile, the European Commission fined Google €2.95 billion for self-preferencing in ad tech, ordering structural changes that could lead to divestiture if Google’s proposals fall short. Critics argue the measures lack real bite, though some experts note that even modest conduct remedies, as seen in Microsoft’s past case, can reshape markets over time. 

IAB Europe & the IAB Release New One-Pager on Incrementality in Commerce Media.

IAB Europe and IAB have released a one-pager explaining incrementality in commerce media, a key metric for proving whether ad spend drives genuine demand and business growth as the sector surpasses $150 billion in the US and Europe. The guide defines incrementality, clarifies outcomes, dispels misconceptions, and aims to help marketers justify budgets with clearer, outcome-based measurement standards.

Prebid.js Impacted in Major NPM Supply Chain Attack: What Ad Tech Needs to Know.

A major npm supply chain attack compromised over 20 popular packages, including Prebid.js, exposing billions of weekly downloads and putting users with crypto wallets at risk. Publishers, SSPs, and DSPs relying on Prebid.js are urged to audit dependencies, pin package versions, monitor runtime activity, and train teams to guard against future threats.

Shaping the Future of Attribution Technology.

As third-party cookies disappear, advertisers need new ways to measure performance, leading browsers and the W3C to test experimental attribution APIs. IAB’s Private Advertising Task Force has outlined key use cases—flexible reporting, custom attribution models, fraud detection, and novel features like app-to-web tracking—to guide the development of these standards and ensure they meet industry needs.

▸ Week 36

• - DOJ Ruling Keeps Google AI Tied to Search
• - Comscore Launches AI-Based ID-Free Audiences
• - Google Prepares Ad Manager Spinoff
• - Publisher Town Hall: Budgets Stable, Traffic Down
• - Prebid Alters Transaction ID Rules
• - EU Delays Google Ad Tech Case
• - WSJ Shares SEO Tactics for AI Search

Media Briefing: DOJ’s Google search trial remedies fall flat for publishers.

The Department of Justice’s remedies against Google landed with disappointment for publishers and ad execs, who had hoped for stricter measures separating search from AI products like AI Overviews. Instead, the ruling largely preserves the status quo, leaving Google’s 90% search dominance intact and offering publishers little relief as referral traffic declines.

Critics argue the decision fails to address core issues, forcing publishers to keep negotiating licensing deals with AI firms while remaining dependent on Google’s crawler. Still, some see the monopoly designation as a foundation for future regulation, with upcoming antitrust trials and a new Technical Committee possibly opening doors for stronger publisher protections. 

Comscore Debuts A Way To Turn Consumer Profile Data Into ID-Free Audiences.

Comscore has launched its Data Partner Network, an AI-powered system that converts ID-based data into ID-free audience segments for targeting without identifiers. Data from providers like TransUnion and Polk is modelled through Comscore’s Proximic platform, which uses contextual and behavioural patterns from opt-in panels to create predictive audiences.

Early adoption has been strong, with more than 250 AnalyticsIQ clients already using these segments, citing improved performance and scalability. Partners like MiQ highlight the system’s ability to refresh contextual targeting at scale, particularly in CTV, making it easier to reach relevant audiences that traditional ID-based or static segments often miss.

Is Google Prepping GAM for a Spinoff?

Google Ad Manager is being positioned to act more independently, with new buy-side tools and discounts aimed at attracting agencies directly, even at the expense of Google’s own DSP, DV360. These moves come as Google faces antitrust pressure, fuelling speculation that the company may be restructuring GAM to make a potential spinoff of its sell-side ad tech business easier.

Overheard during the Digiday publisher town hall.

At Digiday’s Aug. 22 virtual town hall, publishing execs focused on stabilising revenue, navigating DSP/SSP dynamics, and figuring out AI’s role in their businesses. Traffic losses remain severe. Some publishers are down 50% - pushing a shift toward extracting more revenue per user through onboarding fixes, ad logic optimisation, and higher-value native products.

While direct sales stay strong, the open auction is increasingly unstable, with execs wary of adding middlemen and cautious about DSPs trying to bypass SSPs, often to publishers’ detriment. Amazon’s growing DSP presence has introduced more competition, nudging The Trade Desk to be more flexible.

AI is mostly being applied to workflow efficiencies, but publishers distrust off-the-shelf tools that collapse under real-world complexity. Overall, the sentiment was pragmatic: revenue stability depends on squeezing yield, choosing partners carefully, and cautiously experimenting with AI while traffic challenges persist. 

Ad Tech Briefing: One last row before back to school.

The Transaction ID (TID) debate has become one of the hottest issues in programmatic advertising, exposing deep tensions between buyers and sellers. Prebid’s recent change to make TID non-unique across exchanges undermined its purpose of detecting duplicate bid requests, sparking outcry over governance and buy-side influence in open-source standards.

While DSPs argue TID reduces waste and rewards quality publishers, publishers fear it exposes duplication, erodes deal-based monetisation, and hands even more leverage to dominant DSPs. Voices like Paul Bannister of Raptive warn that TID could strip away publishers’ last vestiges of data control, while industry leaders like the IAB Tech Lab’s Anthony Katsur criticise Prebid for violating OpenRTB consistency.

Online debates, from LinkedIn posts to podcasts, show the divide: buyers see efficiency, publishers see exploitation. Ultimately, TID has become a proxy for a larger power struggle, and whether the industry can agree on a standard that balances transparency with publisher autonomy remains unresolved.

EU Stalls on Google Ad Tech Case Amid US Trade Pressure.

The EU was expected to issue a modest fine against Google after a four-year antitrust probe but abruptly pulled back, reportedly under pressure from the US and concerns over jeopardising a new trade deal. European trade commissioner Maroš Šefčovič is said to have intervened, fearing the timing of a fine could provoke Trump, who has threatened tariffs and export restrictions against countries imposing digital regulations.

While EU officials like Teresa Ribera argue the bloc must resist US pressure, today’s hesitation suggests internal divisions and raises doubts about the EU’s willingness to enforce its tech laws boldly. Meanwhile, in the US, the DOJ continues its own antitrust case against Google, even as Silicon Valley’s efforts to align with Trump appear to be softening his stance on regulating American tech giants.

How The Wall Street Journal is strategizing for ‘Google zero’.

At a Digiday virtual event, WSJ’s Ed Hyatt stressed that publishers must prepare for “Google zero,” where AI-driven search keeps users inside Google, by focusing on long-term SEO fundamentals. He argued that traditional practices like Core Web Vitals, structured content, and fast load speeds still matter, both for ranking in search and surfacing in AI engines.

Hyatt urged publishers to analyse log files and crawler data to understand how AI platforms interact with their sites, while moving away from “commodity content” that AI can easily answer. Ultimately, WSJ is prioritising high-intent, valuable traffic from Google Search over lower-value referrals, using it as a pathway to subscriptions and deeper reader engagement.

▸ Week 35

• - Reactions to Prebid’s Changes in TIDs
• - Media Briefing: Here are the hurdles to Perplexity’s pitch as the publisher-friendly LLM
• - The Trade Desk’s redefinition of supply paths ripples across ad tech
• - Agentic Ad Tech Explained
• - Ad Tech Briefing: $26.8 billion still wasted in programmatic despite MFA crackdown
• - ‘Google Zero’ is killing the media
• - Magnite Is Making Pause Ads Available To Buy Programmatically
• - What’s Next for Connected TV Advertising
  
  

Reactions to Prebid’s Changes in TIDs.

Prebid has rolled out a major change to how transaction IDs (TIDs) work, shifting from a single ID per ad unit across exchanges to unique IDs for each bidder. This move has alarmed buyers, who relied on consistent TIDs to deduplicate auctions and optimise supply paths, with Marketecture’s Ari Paparo warning it effectively ends cross-exchange tracking.

On the sell-side, leaders like Raptive’s Paul Bannister argue the old system gave DSPs too much insight into publisher pricing and allowed them to bypass premium paths to inventory. Prebid says the update is driven by privacy and contractual concerns, building on its 2023 decision to default TIDs to “false,” though critics like Sincera’s Mike O’Sullivan note it increases the risk of wasted spend from duplicate auctions.

The situation escalated when the IAB Tech Lab declared Prebid’s approach a violation of the OpenRTB specification, warning it undermines interoperability and calling for a collaborative fix. The clash underscores the deep tension in programmatic between buyer transparency, publisher protection, and adherence to industry standards.

Media Briefing: Here are the hurdles to Perplexity’s pitch as the publisher-friendly LLM.

Perplexity is positioning itself as a publisher-friendly AI company by introducing a usage-based revenue share model tied to its Comet Plus browser, where publishers earn based on human visits and bot crawls. While the idea appeals to some publishing execs, Perplexity has been slow to engage with partners, leaving questions about transparency, payout amounts, and whether enough users will adopt Comet to make the model worthwhile.

Legal troubles add pressure, with lawsuits from News Corp., Nikkei, and Asahi Shimbun accusing Perplexity of scraping content without permission. Despite the uncertainty, some publishers see potential in partnering early, betting that Perplexity’s approach could evolve into a meaningful compensation path as AI reshapes content distribution. 

The Trade Desk’s redefinition of supply paths ripples across ad tech.

The Trade Desk has reclassified SSPs as “resellers,” a move that shifts ad spend toward its own supply routes like OpenPath and SP500 while penalising traditional SSP paths. Through Kokai, its AI-powered platform, The Trade Desk frames this as cleaner, more efficient supply for buyers, but critics argue it reduces publisher payouts, in some cases by up to 50%, and erodes SSP leverage.

Publishers directly connected to OpenPath are benefiting, while others feel pressured to integrate or risk losing spend. What many see is less a crackdown on inefficiency and more The Trade Desk consolidating control, echoing fears of Google-like dominance in programmatic advertising. 

Agentic Ad Tech Explained.

Agentic AI refers to systems that can act independently toward goals, combining generative AI’s ability to create outputs with proactive decision-making to perform complex tasks across ad platforms. Through standards like Anthropic’s Model Context Protocol (MCP), agents can plug into multiple systems, troubleshoot issues, optimise deals, and even collaborate across SSPs and DSPs without requiring custom integrations for each platform.

Companies like FreeWheel, PubMatic, Swivel, Dstillery, Newton Research, and Gigi are already experimenting with agentic AI to automate repetitive ad ops work, scale campaign optimisation, and unlock insights at speeds no human could match. While this promises huge productivity gains, it also raises fears of job loss, especially for entry-level roles, as AI agents can perform many of the manual tasks humans once handled.

Proponents argue that humans remain critical for oversight, creativity, and communication, with AI serving as a “supercharger” rather than a replacement, at least for now. The bigger challenge lies in how quickly the industry can adapt workflows, standards, and mindsets to harness agentic AI, or risk being left behind in the next wave of ad tech transformation. 

Ad Tech Briefing: $26.8 billion still wasted in programmatic despite MFA crackdown.

The ANA’s Q2 2025 Programmatic Transparency Benchmark shows that despite progress in supply-path consolidation, inefficiencies still drain an estimated $26.8 billion annually from global programmatic media. The TrueCPM Index slipped from 37.8% to 36.5%, signalling persistent gaps between cost and quality, even as CTV spend surged and private marketplace deals rose to nearly 88% of spend.

Encouragingly, MFA exposure dropped to a median of 0.8%, down from 15% two years ago, though some advertisers still overspend on low-quality sites. Overall, the report highlights that while consolidation and curation are improving, transparency gaps and data access limitations remain major hurdles to efficiency.

‘Google Zero’ is killing the media.

Google’s AI summaries are reshaping how people consume news, giving users neatly packaged takeaways without needing to click through to original sources. Since the launch of AI Overviews in 2024, publishers have reported steep traffic declines — with click-through rates halved and site visits via Google searches dropping by as much as 16%.

This threatens advertising and subscription revenue, raising fears that journalism itself could be undermined if content is consumed only in summary form. While licensing deals, like those already struck between OpenAI and some publishers, may offer a partial solution, the wider struggle remains: AI platforms are devouring journalism’s output while eroding the economic model that sustains it. 

Magnite is making pause ads available to buy programmatically.

Magnite has launched programmatic pause ads across partners like DirecTV, Dish Media and Fubo, available via its ClearLine product and DSPs such as Yahoo and MNTN. The format, which shows ads when viewers pause content, is gaining traction thanks to its relative ease of standardisation under VAST and strong adoption by early movers like DirecTV.

Usage data shows frequent pausing behaviour, often tied to second-screen activity, making pause ads especially attractive for interactive or shoppable campaigns. Agencies and brands see them as a fresh opportunity, with expectations that demand will expand to smaller advertisers as programmatic adoption scales. 

What’s Next for Connected TV Advertising.

The IAB Tech Lab’s CTV Ad Ops Workshop highlighted key challenges and opportunities in connected TV advertising, stressing the urgent need for clearer standards. Participants agreed that consistent execution of advanced ad formats, such as overlays and shoppable ads, is essential but hampered by low adoption of existing standards like VAST 4 and SIMID.

Other priorities included specialised solutions for live-event advertising, a universal conversion API to improve feedback loops, and universal creative IDs with watermarking to enhance tracking and prevent fraud. The workshop also flagged issues around fragmented inventory ownership and inconsistent metadata, reinforcing that cross-industry collaboration is critical to unlock CTV’s full programmatic potential. 

▸ Week 34

• - AI Grounding Deals Overtake Training Agreements in Value for Publishers
• - More UK Publishers Adopt the ‘Consent or Pay’ Advertising Model
• - Meta Gives Fresh Signals on AI Licensing, but Actions Still Pending
• - Kargo and Ad Council Push Pause Ads as a New CTV Format
• - IAB Tech Lab Steps Up the Fight Against AI Scraping
• - Tackling Signal Loss: Letting Audiences Choose Which Ads to Watch
  

WTF is AI ‘grounding’ licensing, and why do publishers say it matters over training deals?

AI licensing is shifting away from one-time training deals toward recurring, usage-based agreements centred on “grounding” or retrieval augmented generation (RAG). Unlike training, which relied on lump sums for archives used to teach models, grounding pays publishers when live content is fetched and surfaced in AI outputs.

Payment models now range from pay per usage, query, or crawl to ad revenue sharing, with the IAB Tech Lab working on standardised frameworks. This shift benefits publishers by providing recurring revenue, visibility, and attribution rather than fixed sums that quickly lose value. As training data becomes less relevant, grounding ensures real-time relevance and ties licensing to how LLMs actually process and cite content. Although the market is still evolving and negotiations vary, grounding deals are proving to be the more sustainable and scalable path forward. 

More UK news publishers are adopting ‘consent or pay’ advertising model.

Sixteen of the UK’s 50 largest news sites now use a “consent or pay” model, giving users the choice to accept cookies, pay to block personalised ads, or in some cases pay for a fully ad-free experience. The model emerged after the ICO required publishers to make “reject all cookies” as prominent as “accept all,” later clarifying that consent or pay was acceptable if pricing was reasonable and choice genuine.

Publishers report much higher consent rates under this system — often over 95% — since most users accept cookies rather than pay, while the small number who choose to pay helps offset lost ad revenue. Pricing varies by publisher, from £1.99 at Reach’s Mirror and Express to £5 at The Guardian, with models continuing to evolve as publishers balance advertising income, subscriptions, and user privacy expectations. 

Media Briefing: Publishers catch new vibes from Meta on AI licensing.

Meta is signalling a potential shift toward AI licensing, though so far it remains more talk than action. At an IAB Tech Lab workshop in July, publishers noted new leadership at Meta stressing that quality content is essential for AI, hinting at greater willingness to work with publishers.

Still, Meta has few concrete deals in place, faces widespread blocking of its AI crawler, and is seen as lagging behind rivals like Google, OpenAI, and Amazon who have already struck major licensing agreements. For now, publishers view Meta as still in the exploratory phase, while the industry pushes ahead with frameworks like the IAB’s AI Content Monetization Protocols to ensure AI models pay for the content they use. 

How Kargo And The Ad Council Are Trying To Make Pause Ads Happen.

The Ad Council is testing CTV “pause ads” in its “Tear the Paper Ceiling” campaign. Unlike overlays or squeeze-backs, pause ads only appear when viewers press pause, which makes them less frequent but more likely to capture attention.

While many publishers and marketers see pause ads as scalable and impactful, technical challenges around measurement, programmatic trading, and varying pause behaviours have slowed adoption. For now, the Ad Council benefits from lower competition in this format, while Kargo uses the campaign as a testbed to develop scalable, cross-platform solutions for future commercial clients.

The IAB Tech Lab Isn’t Pulling Any Punches In The Fight Against AI Scraping.

The IAB Tech Lab has launched the AI Content Monetisation Protocols (CoMP) Working Group to ensure publishers are compensated when AI models scrape their content. The framework will focus on blocking unwanted crawlers, enabling content discovery through LLMs, and building APIs to let publishers control access and get paid per user query rather than per crawl.

While Google and Meta have engaged with the initiative, OpenAI, Anthropic, and Perplexity have so far refused to participate. Alongside this, the Tech Lab and IAB plan to intensify lobbying at both federal and state levels for stronger copyright enforcement, urging publishers to pressure politicians and pursue legal action against violators.

How Can Advertisers and Publishers Handle Signal Loss? Try Asking the Audience.

Signal loss from third-party cookie restrictions remains a major challenge, but German ad tech firm Welect offers a workaround by letting users choose which ad they want to watch. This self-selection creates a “real-time intent” signal, ensuring ads reach people who are genuinely interested, even when traditional targeting data isn’t available.

The format also helps publishers better monetise low-value or unmonetised traffic, while giving advertisers access to audiences competitors often ignore, such as Safari users. Although adoption requires advertisers to rethink standard targeting and measurement practices, those willing to adapt can gain a significant competitive edge.

▸ Week 33

• - Google AI Overviews linked to 25% drop in publisher referral traffic
• - Amazon’s off-site ad push emerges as publishers’ post-cookie playbook
• - Ad tech CEOs signal shift away from open web amid AI-induced traffic fears
• - Investors sour on programmatic after The Trade Desk’s Amazon comments
• - AI startup Perplexity makes $34.5B bid for Google’s Chrome browser
• - “An Offer You Can’t Opt Out Of” raises privacy and compliance concerns
• - IAB Tech Lab opens public comment on Mapping Content 2.1 to Ad Product 2.0
  

Google AI Overviews linked to 25% drop in publisher referral traffic, new data shows. 

Fresh data from Digital Content Next (DCN) confirms that Google’s AI Overviews is driving notable declines in publishers’ search traffic, despite Google’s reassurances. Across 19 member companies, organic Google Search referrals fell between 1% and 25% in May–June 2025, with a median YoY drop of 10%. Non-news sites saw the steepest, most consistent declines. 

DCN attributes the losses to AI Overviews and is calling for the ability to block Google’s AI crawler without disappearing from search results. In the U.S., a pending DOJ remedies order could mandate separating AI and search crawlers; EU publishers are pushing for similar action. Experts advise keeping core SEO strategies intact but stress that brand strength is becoming critical in AI-driven interfaces, where top-ranking citations no longer guarantee user trust or clicks.

Media Briefing: Amazon’s off-site ad push is becoming publishers’ post-cookie playbook.

Amazon is expanding its advertising business through an unexpected partner: publishers. Leveraging its shopper data, clean rooms, and publisher collaborations, Amazon is opening up streaming and open web inventory to advertisers. By combining its first-party data with publishers’ audience signals, it enables targeted, privacy-safe campaigns across cookieless environments.

Hearst Magazines integrates Amazon shopper signals with its Aura targeting platform, while People Inc. uses Amazon’s Publisher Cloud to enhance contextual targeting. This approach gives advertisers access to broader premium inventory via Amazon’s DSP — often at lower costs than competitors — and strengthens Amazon’s position as a major open web ad platform.

Ad Tech CEOs Signal Shift Away from Open Web Amid AI-Induced Traffic Fears.

Ad tech executives are increasingly concerned about the impact of AI search and chatbots on publisher traffic, with some warning of a potential “Google zero” future where search engines deliver minimal traffic. Magnite and PubMatic said premium publishers are less reliant on search referrals and highlighted their diversification into CTV and mobile.

Others, including DoubleVerify, Nexxen, and Perion, are shifting focus toward channels like social and retail media. Executives also see new monetisation opportunities in AI search and chatbot platforms, which could become “new publishers” and sources of demand.

Investors Sour On Programmatic After The Trade Desk Fumbles A Question About Amazon.

The Trade Desk’s Q2 earnings and CEO Jeff Green’s comments downplaying Amazon as a competitor spooked investors, triggering a sell-off across the public programmatic sector. Despite strong results, companies like DoubleVerify, Magnite, PubMatic, and Viant saw share prices drop over 10% as markets reacted to TTD’s perceived vulnerability. 

Investors were unconvinced by Green’s assertion that Amazon isn’t a direct rival and had expected a stronger defence of TTD’s position. Since many programmatic firms have used TTD as a positive benchmark in investor discussions, its downturn directly hit their valuations. The takeaway from Wall Street: the real competitive battle remains with the walled gardens.

AI startup Perplexity makes bold $34.5 billion bid for Google's Chrome browser.

Perplexity AI has made a $34.5 billion all-cash offer for Google’s Chrome browser, despite Google not putting it up for sale. The bid comes amid the U.S. Justice Department’s antitrust case against Google Search, where a potential remedy could include forcing a Chrome divestiture.

Valued at around $14 billion, Perplexity says it would keep Chromium open source, invest $3 billion over two years, and maintain Chrome’s default search engine. Analysts see a sale as unlikely, with legal challenges potentially lasting years. As browsers regain prominence in the AI search race, Chrome is viewed as strategically vital for both Google and AI rivals.

An Offer You Can’t Opt Out Of.

California’s CCPA law gives consumers the right to opt out of their personal data being used for advertising and to request its deletion. According to The Markup and Wired, at least 35 of nearly 500 registered data brokers hid their deletion request pages from search engines by using code to block indexing. In some cases, the pages didn’t exist at all. While technically legal, regulators warn that creating unnecessary barriers could violate the CCPA.

IAB Tech Lab Announces Mapping Content 2.1 to Ad Product 2.0 Now Open for Public Comment.  

IAB Tech Lab has released new implementation guidance and bi-directional mappings linking Content Taxonomy 2.1 with Ad Product Taxonomy 2.0. The goal is to prevent the misuse of content-based labels for describing ad products, which can cause enforcement and interoperability issues. The update offers a clearer way to label what’s being advertised and includes both forward and reverse mappings to help platforms align. The public comment period is open until September 10, 2025.

▸ Week 32

• - IAB Europe publishes a Q&A to help understand the digital advertising supply chain
• - Magnite Considers Legal Action Against Google
• - The AI negotiator becomes a new power player for publishers
• - Amazon and Google’s ad tech rivalry intensifies
• - WTF is Model Context Protocol and why should publishers care?
• - OpenX sues Google over alleged ad auction rigging
• - IAB Tech Lab separates curation hype from reality

IAB Europe Publishes Q&A on the Digital Advertising Supply Chain. 

IAB Europe has released a new Q&A to clarify how the digital advertising supply chain works and why collaboration between diverse players is essential for a transparent, competitive, and fraud-resistant ecosystem. The document outlines the roles of advertisers, publishers, intermediaries, and platforms — and how standards like ads.txt, sellers.json, and the SupplyChain Object contribute to greater transparency.

It also explains how the Transparency & Consent Framework (TCF) supports GDPR and ePrivacy compliance, and how IAB Europe is improving enforcement through compliance programmes. The Q&A includes concrete recommendations to help strengthen the industry and raise the bar across the board. You'll be able to read the Q&A document here.

Magnite hints at potential future legal action against Google.

Magnite posted over $173 million in Q2 revenue (up 6% YoY), but all eyes were on CEO Michael Barrett’s remarks regarding the ongoing antitrust case against Google. He noted that behavioural remedies could benefit Magnite if the court mandates changes to how Google’s ad stack operates.

The company’s chief legal officer confirmed they are considering all options, including legal action. Earlier in the week, SSP rival OpenX filed its own antitrust lawsuit, alleging Google’s long-standing self-preferencing behaviour. These developments may reshape the competitive balance across the sell-side ecosystem.

Media Briefing: Publishers’ new power player: the AI negotiator. 

In the age of generative AI, publishers are appointing AI negotiators to handle partnerships, licensing, and legal risks with platforms like Google, Amazon, and Meta. These new roles are crucial for protecting content, shaping licensing terms, and ensuring publishers aren’t giving away their data too cheaply.

Candidates are being recruited from both tech companies and internal teams, reflecting the urgency to act. The negotiators' mission goes beyond deal-making — they’re redefining what fair collaboration means in an AI-driven content economy.

Ad Tech Briefing: Lines are being drawn in Amazon and Google’s evolving rivalry. 

U.S. tariffs and the rise of AI are reshaping the global economic landscape. While it might seem that Big Tech would benefit, recent earnings reports show companies like Google, Meta, and Amazon are shifting their focus—potentially disrupting the advertising ecosystem.

Google is prioritising AI over ad tech, Meta reports strong ad growth alongside its AI narrative, and Amazon is rapidly expanding its ad business, even as analysts question its generative AI progress in AWS.  Notably, Amazon has reportedly cut its Google Shopping ad spend, sparking speculation of a brewing rivalry. As both tech giants are among the top advertisers globally, any conflict between them could have widespread consequences for the advertising industry.

WTF is Model Context Protocol (MCP) and why should publishers care?

AI experts believe the "agentic web" is coming – where AI agents perform tasks and make decisions on behalf of users. This could mean publishers will need to adapt their websites so that AI systems can access and interpret content.

Model Context Protocol (MCP), developed by Anthropic, is an open-source framework that helps AI systems interact with structured external data – like an AI-focused version of robots.txt. It gives publishers more control over what AI can access, enabling them to potentially monetise queries and control which parts of their site are included.

Use cases are still evolving. For example, publishers could offer premium content through MCP and charge AI agents per query. It could also allow users to access their subscriptions (e.g., The Atlantic or NYT) via AI tools like ChatGPT. However, MCP is not the only standard. Microsoft and Google have released their own protocols, and it’s unclear which will dominate. For now, many publishers are only beginning to explore the implications of the agentic web and what it might mean for discoverability and monetisation.

Adtech Firm OpenX Accuses Google of 'Rigging' Ad Auctions in New Antitrust Lawsuit.

Adtech firm OpenX has filed an antitrust lawsuit against Google, accusing it of manipulating digital ad auctions and self-preferencing its own tools to the detriment of rivals.

The lawsuit claims Google restricted access to its ad tools and prevented publishers from setting price floors that would allow fair competition. OpenX CEO John Gentry argues Google’s dominance made the auctions unfair and directly harmed OpenX’s business, forcing it to shut down its ad server in 2019. The case follows a recent federal ruling that found Google guilty of monopolising ad server and exchange markets. OpenX seeks both damages and an injunction to stop further anti-competitive practices.

Separating the Truth from the Hype in Curation. 

Curation in programmatic advertising has evolved from a passing trend into a fundamental shift in how value is created for both publishers and advertisers. True curation relies on three core elements: unique data, strong connections between inventory and buyers, and continuous optimisation. Without all three, even Private Marketplaces (PMPs) can fall short of being truly curated.

When done right, curation can increase bid density, improve win rates, and significantly boost ad revenue. Publishers working with solutions from companies like OpenX, Pubmatic, or Magnite have reported substantial gains in eCPMs, revenue, and auction outcomes. Advertisers also benefit from curated deals, enjoying reduced data costs, lower CPCs, and stronger campaign performance across display and video formats.

Despite this growth, much of the industry still lacks clarity on what real curation means. That’s why IAB Tech Lab’s Curation Framework Working Group is creating standards to bring more transparency to curated deals, including who curated them and what data is involved. As these efforts progress, curation could become an even more powerful lever for results — but only if the industry learns to recognise and invest in the real thing.

▸ Week 31

• - UK publishers report up to 80% drop in Google visibility since 2019
• - AI Overviews reduce publisher clickthrough rates by 50%
• - Publishers unite to push back against AI scraping
• - UK streaming TV ad revenues forecasted for double-digit growth
• - Alphabet’s Q2 signals shrinking focus on ad tech
• - Meta halts political ads in the EU; UK ad spend up 8% in Q1
• - Publishers outline expectations for Google’s AI licensing deals
• - Supply Chain API+ introduces new seller feature

Major UK publishers have seen Google search visibility ‘drop by up to 80%’ since 2019.

The visibility of major UK news publishers in Google search has dropped sharply since 2019, with some titles such as the Mirror losing up to 80% of their visibility, according to Enders Analysis. The report linked the decline to Google’s rollout of AI Overviews and its new AI Mode, which answer user queries directly and push publisher links further down the page.

Sistrix data showed that tabloids like the Mirror and Sun are the hardest hit, while The Telegraph, Guardian, and Financial Times have been more resilient. Although the immediate commercial impact is thought to be modest, the report warned that discoverability is at risk, especially for publishers reliant on high search volumes for advertising and subscriptions.

The likelihood of AI Overviews being triggered by publisher-related keywords has risen significantly since March, with tabloids most affected due to their reliance on long-tail entertainment and celebrity queries. Enders also noted that competition from AI platforms such as ChatGPT and Perplexity may further reduce reliance on traditional search engines, adding to the challenges faced by publishers.

AI Overviews cutting publisher clickthrough rates by 50%, new report finds.

A study by Authoritas found that UK publishers lose nearly half their clickthrough rate when Google’s AI Overviews appear in search results, with a 47.5% drop on desktop and 37.7% on mobile. The research, submitted to the UK’s Competition and Markets Authority, concluded that AI Overviews currently appear in about 12% of news-related searches, but are far more prevalent for categories like health and horoscopes, and become more common as stories age.

It also noted Google favours its own properties such as YouTube within AI Overviews, raising concerns over self-preferencing.  While Google disputes the findings, critics warn the problem could worsen with the rollout of AI Mode, which uses generative AI to answer most queries and risks accelerating zero-click searches that bypass publishers entirely. 

The coalition of the willing (and unable): publishers rally to wall off AI’s free ride.

Over 80 media executives met in New York under the IAB Tech Lab to address AI companies scraping publisher content without consent or payment, with OpenAI, Anthropic and Perplexity notably absent. The group is developing the LLM Content Ingest API, a framework to give publishers control over access, enforce attribution, and establish compensation models such as pay-per-crawl or revenue sharing.

While enforcement remains difficult due to AI companies bypassing technical blocks, the goal is to build leverage and make ignoring publisher rules unprofitable. The effort reflects both urgency and fragility, as publishers must maintain unity to prevent fragmented deals, but it offers a rare sense of hope that the industry can set collective standards for control, consent, credit and compensation.

UK Streaming TV Ad Revenues Set for Double-Digit Growth This Year.

UK ad spend grew 8 percent year-on-year in Q1 2025 to £10.6 billion, outperforming forecasts despite inflation, high interest rates and tariff concerns. Advertisers pulled budgets forward in response to Donald Trump’s tariff policies, boosting search (+12.3%), online display (+10.1%) and social media (+14.7%).

Cinema saw the strongest growth (+19.2%) thanks to major film releases, while linear TV, national newsbrands and magazines declined, though streaming services like Netflix and Disney+ supported VOD growth (+5.4%). Full-year ad spend is expected to rise 6.8 percent in 2025 to £45.4 billion, with VOD, search, cinema and online display driving gains, and forecasts suggest further growth into 2026 supported by clarity on new UK regulations and advertising’s role in sustaining 1.7 million jobs. 

Ad Tech Briefing: Alphabet’s Q2 hints at ad tech’s declining profile in Google’s future.

Alphabet reported a 14% year-on-year revenue increase to $96.4 billion, driven mainly by Google Services, which includes Search ($54.2 billion), YouTube ($9.8 billion) and subscriptions ($11.2 billion). However, Google Network advertising revenue declined 1% to $7.4 billion, continuing its gradual slide as advertisers shift spending toward owned-and-operated platforms with stronger AI-driven formats and targeting.

Wall Street’s focus during the earnings call was less on ad tech and more on Alphabet’s cloud business, which grew 32% to $13.6 billion, reflecting investor interest in AI infrastructure. Overall, Google Network is increasingly viewed as a legacy segment overshadowed by higher-growth areas, raising questions about how strongly the company will defend its ad tech operations amid ongoing antitrust pressures. 

Meta Suspends Political Ads in EU; UK Advertising Up 8% in Q1.

Meta will suspend all political, electoral and social issue ads across the EU from October, citing “unworkable requirements” in the bloc’s new political transparency law. While paid political ads will be blocked on Facebook and Instagram, parties, candidates and individuals will still be able to share political content organically.

UK ad spend grew 8% year-on-year to £10.6bn in Q1 2025, driven by strong gains in search and retail media, according to AA/WARC. Full-year spend is forecast to rise 6.8% to £45.4bn, with growth led by VOD, search, online display and cinema despite a sluggish economy.

A wish list with limits: What publishers want to see from Google’s AI licensing deals.

Google has begun exploratory talks with around 20 publishers about AI licensing, a shift driven partly by Amazon’s recent deal with The New York Times and growing unease about how content is used to train AI. Publishers’ demands centre on three priorities: meaningful revenue, greater transparency over how their content is used, and more control in shaping the terms of these partnerships.

Many want hybrid licensing models that combine upfront fees with ongoing revenue tied to usage, alongside APIs for real-time updates, attribution, corrections and opt-outs. They also stress that without visibility into how AI products like Google’s Overviews impact traffic and referrals, any financial agreement will fall short.

Legal challenges, such as the New York Times’ lawsuit against OpenAI, and new regulations are expected to influence the structure of future deals. Ultimately, publishers are seeking long-term stability, predictable terms and involvement in product development, fearing that otherwise they risk ceding even more control to tech platforms in an already volatile market. 

Supply Chain API+ Adds New Feature for Sellers.

IAB Tech Lab has introduced a new Supply Chain Validation feature within its Supply Chain APIs, enabling sellers to see every instance where their domain appears in ads.txt and app-ads.txt files. This helps sellers identify unauthorised listings, audit their sellers.json coverage, and resolve multi-domain issues, with the feature now available exclusively to Supply Chain API+ subscribers.

▸ Week 30

• - DoubleVerify: Shifting trends in media quality and ad performance
• - Reach to focus on subscriptions while keeping most news free
• - Publishers create new AI roles as strategies evolve
• - CTV buyers raise concerns over sell-side opacity and ad tech fees
• - IAB Europe shares positions on GDPR and ePrivacy simplification
• - Publishers race the clock before potential “Google Zero” moment
• - Google reportedly pursuing AI licensing deals with news publishers
  

DoubleVerify’s 9th Global Insights Report Reveals Shifting Media Quality and Performance Trends.

DoubleVerify’s 2025 Global Insights: EMEA Report highlights improvements in media quality, including a 24% drop in brand suitability violations and a 33% decline in fraud across the region, with the UK leading these positive trends. Despite progress, EMEA still has higher brand suitability violation rates than the global average, particularly in mobile web display ads.

Viewability and attention metrics show gains, especially in desktop and in-app video ads, though UK performance lags slightly in attention compared to the rest of EMEA. Marketers are shifting focus toward commerce media, news, CTV, and high-performing formats like social feeds and reels to drive performance in an increasingly fragmented media landscape—link to full report.

Reach to put ‘serious focus’ on subscriptions but expects to keep most news free.

Reach reported a 3.4% year-on-year revenue decline to £256m in H1 2025, with print revenue falling and digital growing modestly, while adjusted operating profit rose slightly to £44.8m.

Under new CEO Piers North, the company plans to diversify revenue through digital subscriptions, e-commerce, and video, while maintaining a largely ad-funded model and reducing operating costs by 4–5% amid ongoing restructuring.

Media Briefing: New AI-focused roles signal an evolution of AI strategy at news publishers.

News publishers are moving beyond AI experimentation by creating executive roles and dedicated teams to manage AI strategy, signalling its growing importance as core infrastructure rather than a side project. Outlets like Forbes, The Washington Post, and Reuters have appointed AI-focused leaders to oversee cross-functional integration, product development, and revenue opportunities.

This shift reflects a maturing approach that views AI as both a strategic asset and a means to reshape content production, distribution, and monetisation. However, the rise of AI also brings tension between innovation and cost-cutting, as some publishers reduce staff while investing in automation. 

Future of TV Briefing: CTV ad buyers say ‘the math isn’t mathing’ with sell-side shadiness, ad tech fees.

Advertisers are increasingly frustrated with high CTV ad costs, citing inflated CPMs and opaque pricing from both streaming platforms and ad tech intermediaries. Executives at Digiday’s CTV Advertising Strategies event highlighted issues like programmatic fees reaching up to 50%, inconsistent inventory labelling, and poor delivery on guaranteed deals, likening current practices to those of traditional TV but with greater complexity.

Agencies face challenges navigating multiple DSPs, hidden fees, and unclear inventory definitions, which make it harder to justify costs to clients and maintain campaign transparency. Despite the promise of programmatic tools, many feel they are paying a premium for inefficiencies and a lack of visibility, with little accountability across the ad supply chain.

IAB Europe Shares Positions on GDPR and ePrivacy Simplification.

IAB Europe has submitted input to the European Commission on the GDPR Implementation Dialogue and the Review of the ePrivacy Directive, advocating for a risk-based, harmonised approach that balances data protection with innovation.

Their recommendations call for clearer rules, reduced administrative burdens, and updates to outdated consent requirements to better align with today’s digital advertising landscape.

Publishers race against Google Zero doomsday clock.

Publishers are rapidly shifting their strategies in response to declining Google and social media referral traffic, a phenomenon dubbed "Google Zero," which threatens one of their most reliable revenue streams. In response, companies like Wired, The Verge, and Business Insider are launching new subscription products, personalised newsletters, events, and direct-to-reader platforms to build stronger audience relationships.

Many are also experimenting with video apps, membership programmes, and AI-driven tools while pulling back from SEO-dependent content. Despite licensing deals with AI companies and new monetisation tools like micropayments, publishers see these as short-term fixes and are focused on owning their audience connections to reduce reliance on external platforms. 

Google is reportedly pursuing AI licensing deals with news publishers.

Google is reportedly negotiating AI licensing deals with around 20 national news outlets in a pilot project similar to OpenAI’s strategy, as AI tools like Google’s AI Overviews increasingly reduce traffic to publishers’ websites. While some media companies are pursuing legal action against AI firms for copyright infringement, others are opting to license their content in exchange for compensation, though the value of these deals varies widely.

Google already has agreements with The Associated Press and Reddit, and its AI-generated summaries have sparked criticism for diverting users away from original content. As legal and ethical debates continue, these licensing efforts suggest tech companies are recognising the need to formally partner with publishers for high-quality training data.

▸ Week 29

• - IAB Tech Lab finalises ID-Less Solutions guidance
• - Digiday research highlights Gen Z audience trends for publishers
• - PAIR 1.1 protocol and new Prebid module released
• - IAB Tech Lab proposes plan to address LLM scraping concerns
• - Google Discover adds AI summaries, raising publisher traffic concerns
• - IAB Europe publishes new Retail Media Report
• - Ad industry urges EU to recognise existing digital rules before new legislation

ID-Less Solutions Guidance Finalised.

IAB Tech Lab has released the final version of its ID-Less Solutions Guidance, which complements the original ID Solutions Guidance by offering clear criteria for evaluating ID-Less advertising solutions. The document defines key concepts, outlines challenges of operating without identifiers, and presents solutions across use cases like targeting, attribution, and anti-fraud.

It highlights important technologies such as Shared Storage, Topics API, and Privacy-Preserving Attribution API, while incorporating updates based on public feedback. Authored by experts and developed with support from the Addressability & PETs Working Group, the guidance reflects collaborative efforts to advance privacy-focused advertising.

Digiday+ Research: Publishers identify the top trends among Gen Z readers. 

Digiday’s latest research shows that Gen Z still makes up a small share of publisher audiences, with 71% of publishers reporting that this group accounts for no more than a quarter of their readership.

While Gen Z expects on-demand, mobile-friendly news and often discovers breaking stories through social media, publishers are still adapting to reach and monetise this elusive audience, especially through platforms like TikTok and podcasts.

PAIR 1.1 Protocol & New Prebid Module Released.

IAB Tech Lab has released version 1.1 of the Open PAIR protocol, introducing clearer definitions and technical improvements to support broader industry adoption. A major change is the standardisation of how Publisher Identifier values are encoded: Data Clean Rooms must now Base64 encode these values before sharing, reducing workload for publishers and improving audience match rates by lowering latency.

The update also includes a new Prebid module, Open PAIR, which supports multiple Data Clean Rooms and simplifies integration through standardised values and flexible configuration. These updates are designed to encourage adoption by publishers, DSPs, and Data Clean Rooms, enabling more efficient, privacy-focused audience targeting.

IAB Tech Lab pitches plan to help publishers gain control of LLM scraping.

The IAB Tech Lab is forming a task force with publishers and edge compute companies like Cloudflare to develop a technical framework, called the LLM Content Ingest API, aimed at giving publishers control over and compensation for LLM crawling. The first workshop will take place in New York on July 23, with plans to finalise and launch the framework by autumn.

The proposed system includes contract-based content access, tiered content grouping, and payment models such as cost-per-query, with built-in logging and tokenisation to track content use and ensure accurate attribution and compensation. A major hurdle remains securing cooperation from AI companies, which many publishers doubt will voluntarily participate.

However, the IAB hopes cost efficiencies and legal pressure from ongoing lawsuits will incentivise AI platforms to engage. For the framework to be enforceable, publishers must unite with edge platforms to block unauthorised crawlers and prevent the system from being undermined by even one non-compliant participant. 

Google Discover adds AI summaries, threatening publishers with further traffic declines. 

Google has begun rolling out AI-generated news summaries in its Discover feed on the search app for iOS and Android in the U.S., replacing traditional headlines with summaries that cite multiple publishers. While aimed at helping users decide what to read, the feature has raised concerns among publishers already struggling with falling traffic from Google and other AI-driven tools.

Data shows that the rise of AI Overviews has led to a sharp increase in zero-click searches, with global search traffic down 15% year-over-year and news-related clicks dropping significantly. Although Google has introduced revenue features like Offerwall, many publishers fear these efforts come too late to offset the impact of declining referral traffic.
 

IAB Europe Releases Latest Attitudes to Retail Media Report Revealing Key Trends, Challenges, and Opportunities.

IAB Europe’s 2025 Attitudes to Retail Media Report reveals that Retail Media in Europe has evolved from an emerging trend to a strategic priority, with growing investment in omnichannel and performance-driven approaches. The report, based on responses from over 180 industry professionals, highlights deeper, more diverse retailer partnerships and continued dominance of on-site media, alongside rising off-site and emerging channel investments like CTV and audio.

Key challenges include network fragmentation and lack of standardisation, while transparency, performance, and measurement remain top priorities for buyers, with ROAS as the leading metric. IAB Europe emphasises the need for shared standards and ongoing upskilling, supported by initiatives such as its Retail Media Certification Programme and updated capability mapping.
 

Advertising Industry Calls on the European Commission: Recognise Existing Digital Rules Ahead of the Digital Fairness Act.

IAB Europe and a coalition of advertising industry bodies have urged the European Commission to recognise that existing EU legislation already addresses the consumer protection concerns targeted by the proposed Digital Fairness Act (DFA). In a joint letter, they warned that adding new rules could create confusion, increase compliance burdens, and undermine legal clarity across the digital advertising ecosystem.

The signatories stressed that areas such as personalised advertising, consent, and influencer marketing are already regulated under laws like the GDPR, DSA, and UCPD. They called on the Commission to focus on enforcing current laws, assess the impact of recent regulations, and only consider new rules where genuine gaps are identified. 

▸ Week 28

• The Weekly Wrap is on summer break — we’ll be back updating the page in August. Have a wonderful summer!

▸ Week 27

• - Urgent bid lodged to stop Google AI Overviews ‘stealing journalism’ in the UK.
• - Publishers celebrate Cloudflare’s default block on AI bot crawlers.
• - Google fined $314.6M for secretly collecting Android user data.
• - When did ad tech get so obsessed with outcomes, anyway?
• - Biggest misconceptions about AI content scraping.
• - Prebid 10.0.0 released with major cleanup and stricter requirements.

Urgent bid lodged with UK regulator to stop Google AI Overviews ‘stealing journalism’. 

Foxglove, the Independent Publishers Alliance, and the Movement for an Open Web have filed a complaint with the UK’s Competition and Markets Authority (CMA), calling for immediate action against Google’s AI Overviews feature.

The complaint argues that Google’s AI-generated answers use content from news publishers without compensation, significantly reducing traffic and revenue for their sites. For example, Mail Online reported that click-through rates dropped by over 50% when AI Overviews appeared in search results. The complainants are demanding that publishers be given the ability to block their content from being used in AI responses without losing visibility in regular search results, and that they receive fair compensation for their content.

Media Briefing: ‘Cloudflare is locking the door’: Publishers celebrate victory against AI bot crawlers.

Publishers around the world have been celebrating this week as Cloudflare launched a new tool that lets them block all AI crawlers with a single click. Dotdash Meredith and many other media companies described it as a significant step toward a healthier internet economy. Until now, publishers have been mainly powerless against large-scale, free data scraping by AI models.

Cloudflare’s solution not only blocks unauthorised content scraping but also introduces a pay-per-crawler model, allowing publishers to decide who gets access, and at what price. This could reduce server costs, limit IVT (invalid traffic) flags, and lower the risk of programmatic ad sales being cut off due to bot traffic. For the first time, publishers have an accurate infrastructure-level tool to counteract AI crawlers.

Legal Developments: Google Fined $314.6M.

California jury has ordered Google to pay over $314.6 million (around €290 million) in damages for secretly collecting Android users’ data without their consent. The class-action case, representing roughly 14 million users, was initially filed in 2019. It found that Android devices continued sending data to Google in the background even when inactive, described as a “mandatory burden” that primarily benefited Google’s targeted advertising. Google plans to appeal the verdict. Meanwhile, a similar federal lawsuit covering the other U.S. states is set to go to trial in April 2026.

When Did Ad Tech Get So Obsessed With Outcomes, Anyway? 

Advertising has long been obsessed with measurable outcomes, but the term has become increasingly vague. Outcomes typically refer to sales and conversions, although they may also include brand awareness or clicks, provided the impact can be proven. Meta and Google drove marketing to be ever more performance-focused, which ultimately hurt overall effectiveness. Now, many brands are trying to get back to basics — to true business results — even though that’s harder and costlier, especially in TV and CTV.

Here are the biggest misconceptions about AI content scraping.

According to a new report from TollBit, AI bots that scrape real-time information (RAG = Retrieval Augmented Generation) are now hitting publisher sites more often than traditional bots used to train large language models. In Q1 2025, RAG scrapes grew by 49%, while training bot activity increased by just 18%.

Unlike training bots, which do one-time crawls to build general knowledge, RAG bots continuously index sites to power up-to-date responses in AI chats and search engines — and they’re increasingly bypassing robots.txt (13% of RAG scrapes ignored it last quarter). This increases costs for publishers and diminishes their ability to drive traffic back to their sites.

Monetising this wave is also tricky: most AI companies don’t pay for RAG usage, even though it relies on publisher content. But TollBit and the IAB are working on pay-per-crawl models to help publishers capture value from this growing activity

Prebid 10.0.0 Release. 

Prebid.js 10.0 is now available, introducing a significant set of changes: dozens of old modules have been removed, many modules have been renamed, legacy practices such as sendTargetingKeys and pbadslot have been deprecated, and TypeScript support is finally here. Building now requires a Node 20+ environment.

There’s also tighter control over custom targeting values (by default, these are no longer set for non-winning bids) and more safeguards around cookie usage via the TCF module. The API has changed too — for example, getBidResponses now returns data as an array.
If you’re using Prebid.js, ensure that you check your setup, as many adapters have been either replaced or completely removed.

▸ Week 26

• - Google launches Offerwall to help publishers monetise beyond ads
• - Q1 2025 sees strongest digital publisher revenue growth since the pandemic
• - UK’s CMA moves to regulate Google Search under new “strategic market status”
• - Social platforms prioritise creators over publishers, cutting referral traffic
• - UK adults now spend more time on mobile than on TV, but TV still wins on mood
• - Cannes Lions 2025 showcases tech-powered creativity and AI-driven collaboration
• - Independent and ethnic media in Australia face uncertainty after Google cuts funding
  

Offerwall gives publishers more options to monetise and audiences more control over how they access content.

Google has launched Offerwall in Ad Manager, giving publishers new ways to monetise content by letting audiences choose how to access it—through options like watching ads, taking surveys, or making micro-payments. Tested with over 1,000 publishers, the tool is now widely available and includes AI-powered features to optimise when it's shown, offering particular value to smaller publishers with limited monetisation resources.

Q1 2025 Saw Largest Increase in Digital Publisher Revenues Since Pandemic, AOP and Deloitte Reveal.

The latest Digital Publishers’ Revenue Index shows a 9.27% YoY growth in Q1 2025, reaching £166.94 million, with all categories except display advertising and classifieds seeing gains. Subscriptions have overtaken display advertising as the largest revenue stream for premium publishers, rising 21.8% YoY to account for 34% of total revenues.

Video, digital audio, sponsorships, and off-platform revenues also grew, while classifieds saw sharp declines but now make up only 3.6% of total revenue. A record 69% of publishers reported revenue growth, reflecting a successful shift towards sustainable, reader-driven business models. 

The Rundown: What CMA’s crackdown on Google really means for publishers.

The UK’s Competition and Markets Authority (CMA) is taking steps to rein in Google’s dominance in search, proposing legally binding rules under a new Digital Markets Competition Regime. This includes designating Google as having “strategic market status,” allowing the CMA to impose requirements around search practices and publisher content usage, including in AI Overviews.

The CMA aims to ensure fair search result rankings and greater transparency for publishers, but Google’s AI products like Gemini are excluded for now, raising concerns among publisher groups. Legal experts suggest Google may comply with some transparency measures, like disclosing algorithm parameters, but will resist major changes, especially around AI Overviews due to their business importance.

Although the CMA’s efforts signal progress, any tangible benefits for publishers are unlikely before 2026 due to slow regulatory processes and political considerations around AI-driven growth. Ultimately, this initiative may result in limited wins for transparency, but faces challenges in forcing meaningful change in how Google handles publisher content. 

Media Briefing: As social platforms favor creators, publishers are left out of the referral loop.

News executives from organisations like the BBC, The New York Times, and Reuters are confronting the challenge of younger audiences shifting to social platforms and influencers for news, with little referral traffic returning to publisher sites. Platforms like TikTok, YouTube, and Instagram have overtaken traditional media and websites as the primary news sources, especially among under-35s, prompting publishers to adapt their content strategies.

However, this shift raises concerns as publishers struggle to compete with personality-driven creators and must now rethink success metrics beyond clicks, focusing on sentiment, engagement, and brand presence. The “Trump bump” that once benefited publishers has largely shifted to influencers and podcasters, who are now shaping public discourse.

In response, publishers are experimenting with short-form videos and more visible journalists, but still face uncertainty about how AI and algorithmic changes will reshape news discovery. Ultimately, the industry is bracing for a long-term transformation, with leaders acknowledging they’re navigating an unpredictable and rapidly evolving media environment. 

Mobile Time Overtakes TV in the UK, but TV Provides a Mood Boost.

For the first time, British adults are spending more time on their phones (3 hours and 21 minutes daily) than watching TV (3 hours and 16 minutes), driven by increased mobile usage rather than a significant drop in TV viewing. Younger people (aged 14–25) spend far more time on phones than on TV, while older age groups still prefer television.

Despite the shift, overall screen time has only modestly increased, with phones replacing time spent on other devices, not TV. The IPA warns advertisers to consider emotional engagement, as TV viewers are more likely to feel relaxed, whereas mobile viewers are more likely to feel sad, suggesting that not all screen time is equal in advertising impact.

Cannes Lions 2025: A New Era Of Tech-Enabled Creativity And Collaboration.

At Cannes Lions 2025, technology—especially AI—took centre stage, marking a new era where creativity is deeply intertwined with tech, data, and evolving consumer behaviours. AI is now embraced as a co-pilot in the creative process, aiding in real-time relevance and personalised engagement, while the fragmentation of media has made traditional measurement models obsolete, prompting the rise of more customised, outcome-based metrics.

News advertising is experiencing a revival, privacy and compliance are reshaping data strategies, and meaningful collaboration across platforms and partners is now essential to success. The creator economy also dominated discussions, with marketers urged to integrate creators into core strategies, reflecting a shift in how brand storytelling is conceived and executed.

Independent and ethnic media in Australia face uncertainty after Google cuts funding deal.

Google has ended a key funding deal with over 20 independent and multicultural Australian publishers, including The Greek Herald, two years earlier than agreed, citing the need to streamline support through a centralised model. The original agreement, negotiated by the Minderoo Foundation via the Public Interest Publishers Alliance (PIPA), was set to run until 2027 and formed the basis of many publishers’ long-term financial planning.

Publishers now face significant uncertainty, with leaders like Dimitra Skalkos calling the decision a setback for media equity and urging the Federal Government to intervene. As both Meta and Google pull back from funding commitments, concerns are growing about the future viability of smaller outlets and the lack of progress on promised government reforms to protect public interest journalism.

▸ Week 25

• - 2025 media trends: AI, social video, fragmentation, influencer
• - 4 takeaways from IAB Tech Lab Summit 2025
• - CMA gives Privacy Sandbox a lifeline as many call it dead
• - DOJ faces growing calls to coordinate Google antitrust remedies
• - Publishers refine Reddit strategies to drive referral traffic
• - Sky, ITV, and Channel 4 to launch joint self-serve ad marketplace
• - Meta is finally bringing ads to WhatsApp

News trends for 2025: AI chatbots, social video boom, platform fragmentation and rise of news influencer. 

According to the 2025 Reuters Digital News Report, social media has overtaken TV as the top news source in the US, especially among younger audiences. AI chatbots like ChatGPT are now used by 15% of under-25s for news, marking a notable shift in consumption habits. At the same time, news influencers on TikTok, YouTube and podcasts are gaining ground, challenging traditional publishers.

Despite this fragmentation, trusted news brands still play a key role—especially when verifying questionable information. Publishers, however, face growing pressure to adapt to personality-driven formats and AI-powered discovery.

4 Takeaways from IAB Tech Lab Summit 2025: Through the Looking Glass. 

At this year’s IAB Tech Lab Summit in New York, the message was clear: digital advertising is at an inflection point. CEO Anthony Katsur highlighted three major forces reshaping the industry—regulation, platform disruption, and AI. Two major initiatives were introduced: the Containerization framework and the LLM Content Ingest API, aimed at modernizing the infrastructure of the open internet.

Curation and transparency emerged as essential themes, with ongoing efforts to create standards that deliver trustworthy, high-performing media. AI, while everywhere, was framed as a tool that only works when paired with clean data and operational discipline. CTV was recognized as a full-funnel channel, with new formats and live event frameworks paving the way for scalable programmatic buying. Privacy and identity, meanwhile, demand action—not just talk.

Ad Tech Briefing: The CMA tosses Google’s Privacy Sandbox a lifeline, as many declare it DOA. 

The UK’s Competition and Markets Authority (CMA) is consulting on whether to release Google from the Privacy Sandbox commitments set in 2022, citing reduced competitive concerns after Google dropped its third-party cookie deprecation prompt in Chrome. Critics argue the move benefits Google by easing regulatory pressure while maintaining its market power.

While Google claims the reversal aims to reduce user confusion, many see it as a strategic retreat. The consultation is open until July 4, with broader antitrust remedies looming in the U.S., where trials around Chrome and ad tech may extend into 2027.

The DOJ faces growing calls to coordinate Google antitrust remedy efforts.

Movement for an Open Web is urging the U.S. Department of Justice to coordinate remedies in its separate antitrust cases against Google’s search and ad tech businesses. Currently handled by separate expert groups, the remedies risk overlooking how tightly connected Google’s businesses are.

Proposed DOJ actions include selling Chrome, breaking off DFP and AdX, and opening real-time data access. Google opposes the breakup and suggests lighter reforms. A ruling in the search case is expected in August, with the ad tech remedies phase set for late September.

Publishers refine Reddit strategies to tap into targeted referral traffic. 

Reddit is becoming a more valuable traffic source for publishers like Newsweek, The Atlantic, and Reach, prompting them to refine their strategies. Newsweek, for example, has grown from 200k monthly Reddit referrals to over 2–4 million. Success on Reddit requires tailored, hands-on community engagement rather than mass posting.

While Reddit doesn’t yet offer monetization tools for publishers, it’s seen as a key channel to build audience relationships—especially with niche communities not found on other platforms.

Sky, ITV, and Channel 4 Set to Launch Joint Self-Serve Advertising Marketplace. 

UK broadcasters ITV, Sky, and Channel 4 are teaming up to launch a joint self-serve advertising platform aimed at small and medium-sized businesses. The tool, powered by Comcast’s Universal Ads and FreeWheel, will allow advertisers to buy addressable inventory across all three broadcasters with unified buying, measurement, and reporting.

The goal is to make TV advertising more accessible and user-friendly — similar to social media ad platforms. The platform is expected to go live in 2026 and reflects a growing trend of TV networks collaborating to attract new advertisers and simplify ad buying.

Meta is finally bringing ads to WhatsApp.

Meta is rolling out ads on WhatsApp, marking a major shift for the previously ad-free messaging app. Businesses can now run status ads within the "Updates" tab, encouraging users to message them directly. Additionally, Meta will monetize WhatsApp Channels through search ads and subscriptions.

The move aligns with CEO Mark Zuckerberg’s vision of making WhatsApp a key business pillar. With over 3 billion monthly users, WhatsApp will now support direct in-app advertising, expanding beyond the click-to-message ads already used on Facebook and Instagram.

Channel admins will also be able to promote their content in search and offer paid subscriptions for exclusive updates. While ads will be limited to the Updates tab to avoid disrupting personal chats, Meta plans to eventually take a 10% cut of subscription revenue.

▸ Week 24

• - Tariffs slow the ad market growth and increase concentration
• - The current state of privacy in ad tech
• - Trusted Server and Prebid Server: Better together?
• - WPP cuts ad spend forecast due to tariff uncertainty
• - Is anyone still paying attention to the Privacy Sandbox?
  

Lower Spend, Slower Growth and Higher Concentration: How Tariffs Are Impacting the Global Ad Market.

Global ad spend is projected to reach $1.16 trillion in 2025, but WARC has cut its forecast due to trade tensions, especially US tariffs, which are dampening advertiser confidence and shifting budgets. Automotive and retail sectors are pulling back significantly, with automotive ad spend down 4% and retail down 6.1%, while digital channels like social and retail media continue to grow rapidly.

Major platforms such as Google, Meta, and Amazon are absorbing more spend, with retail media now surpassing linear TV in global ad share. Regionally, the US, Canada, and China are all seeing slowed growth due to tariff-related disruptions, though the UK remains relatively strong due to its digital-first ad market.

The State of Privacy in Ad Tech. 

As of mid-2025, the ad tech industry remains caught between tightening privacy regulations and inconsistent compliance, with major platforms like Meta, Google, TikTok, and LinkedIn facing significant fines and legal scrutiny. Despite the end of Chrome’s cookie deprecation plan, advertisers are still grappling with evolving privacy expectations and shifting toward more privacy-conscious solutions.

Sarah Robertson (Chief Product Officer, Experian Marketing Services): AI and advanced technologies are reshaping privacy expectations in ad tech, making transparency and accurate real-world data essential. The industry must prioritise privacy-first strategies to build trust and ensure performance.

Maria Cadbury (CRO, Wult): Regulators like the ICO are cracking down on non-compliance, with real legal risks for advertisers using non-compliant publishers. Wult sees high levels of risky inventory and urges proactive compliance, especially in prebid environments, citing Criteo’s €40m fine as a warning.

Nick Stringer (Global Tech & Regulatory Specialist): While data-driven advertising funds the internet, privacy remains non-negotiable. Brands must advocate for ethical data use to overcome regulatory barriers and foster authentic consumer relationships.

Trusted Server vs. Prebid Server: Better Together! 

The Trusted Server and Prebid Server serve different but complementary roles in a privacy-first ad tech stack.

Trusted Server is a publisher-controlled edge middleware that collects and packages client-side signals, manages data securely, and orchestrates ad delivery without running auctions.

Prebid Server, by contrast, is a server-side auction engine that collects bids from demand partners and selects the winning creative based on impression-level data.

When used together, Trusted Server handles signal collection and rendering, while Prebid Server manages auctions—giving publishers greater control, flexibility, and compliance in a post-cookie environment. 

WPP Media cuts 2025 ad spend predictions in response to tariff uncertainty

WPP Media has downgraded its global ad spend growth forecast for 2025 from 7.7% to 6%, citing client caution driven largely by uncertainty around Trump’s trade policies rather than actual economic impacts. The U.S. and U.K. markets both saw minor downgrades, with additional pressure from local policy changes like the U.K.'s fast-food ad restrictions.

However, independent agencies report steadier spending among medium-sized brands, particularly in DTC and financial services, which are leaning into current demand. Meanwhile, retail media and creator-driven platforms like Instagram and YouTube are overtaking traditional media in global ad revenue, signalling a continued shift toward digital-first advertising strategies.

No Shade, But Does Anyone Still Care About The Privacy Sandbox? 

Google’s reversal on third-party cookie deprecation has left the ad tech industry frustrated, after years of investment and anticipation around the Privacy Sandbox. Despite the setback, some companies continue to use Sandbox APIs, though adoption remains stagnant at around 29.9% of sites.

Research shows that using the Sandbox results in nearly the same revenue drop as removing cookies entirely, with only 4.2% of lost revenue recovered on average, though European publishers fare slightly better, recovering about 22%.

The Protected Audience API also causes latency issues, further complicating monetisation efforts, yet remains potentially valuable in high opt-out regions, such as Europe.

▸ Week 23

• - Nearly half of publishers report an increase in referral traffic from social
• - Brian Wieser: U.S. ad market is up, but a cliff may be ahead
• - Agency-SSP partnerships blur traditional programmatic roles
• - IAB Tech Lab proposes LLM Content Ingest API to address AI’s impact on the web and brands
• - New initiative pushes standardisation of containerisation in OpenRTB
• - IAB Europe publishes DSA Transparency Implementation Guidelines v1.1
  

Digiday+ Research: Nearly half of publishers report an increase in referral traffic from social.

Publishers are increasingly benefiting from social media, with nearly half reporting a rise in referral traffic over the past year, according to a Digiday+ Research survey. Meta’s platforms (Facebook and Instagram) and TikTok have been the biggest contributors to this growth, followed by LinkedIn, X, Reddit, and Bluesky.

Despite TikTok driving recent increases, Meta still dominates in terms of overall social referral traffic, with Facebook alone accounting for 40%. LinkedIn ranks higher than TikTok in total share, suggesting publishers may have already optimised their presence there, while TikTok remains a platform of ongoing experimentation. 

Signs of Rising Ad Spend in the US market. 

Ad spending in the U.S. is defying expectations, with growth projected at 6% for the second quarter and full year, up from a previous forecast of 3.6%, driven largely by digital channels and sectors like commerce, retail, and social media. While national TV is stagnating and the open web struggles, CTV is gaining ground, and political ad spend appears to be levelling off.

Despite these strong figures, the broader economy shows signs of fragility, with recent GDP growth fuelled by short-term import boosts rather than lasting consumer demand. Experts warn that the current ad market momentum may not be sustainable, as economic pressures like tariffs, weak productivity growth, and policy uncertainty loom large.

Agency-SSP partnerships are growing more common – and blurring programmatic’s old dividing lines. 

Media agencies are increasingly partnering directly with SSPs to reduce reliance on DSPs and improve media quality, transparency, and cost-efficiency. Pressured by tighter client budgets and rising tech fees, agencies are consolidating their SSP relationships, often funnelling most of their spend through a select few partners like PubMatic, Magnite, OpenX, and Xandr.

These partnerships offer access to premium inventory, potential discounts, and greater visibility into ad placements, helping agencies avoid low-quality or MFA sites. SSPs benefit from these deals too, gaining a larger share of programmatic spending and deeper collaboration opportunities, including co-developing tools.

While DSPs are still necessary for transaction execution, the old lines between supply and demand are blurring as agencies take a more active role in the supply path. This trend mirrors broader shifts in the ecosystem, where both SSPs and DSPs seek to expand influence across the programmatic value chain. 

IAB Tech Lab Addresses AI’s Impact on web economics and brand reputation; Proposes Large Language Model (LLM) Content Ingest API Initiative.

The rise of genAI and LLMs is reducing publisher traffic and revenue while threatening fair representation of brand content, prompting calls for compensation and control over how content is used by AI.

In response, the IAB Tech Lab has introduced the LLM Content Ingest API Initiative—a technical framework aimed at enabling fair value exchange, empowering publishers and brands to manage AI access, and ensuring accurate representation in AI-generated outputs.

New Initiative Calls on Industry to Standardise Containerization Technology in Open RTB for Efficient and Scalable Ad Tech Deployment.

IAB Tech Lab has launched the Containerization Project to address scalability, efficiency, and performance issues in the current programmatic advertising infrastructure, especially during high-demand events.

The initiative aims to standardise container technology for Open RTB, enabling more flexible and sustainable real-time bidding systems, and is inviting industry stakeholders to help shape its development.

IAB Europe Releases DSA Transparency Implementation Guidelines 1.1.

IAB Europe, IAB Tech Lab, EDAA, and industry stakeholders have released updated DSA Transparency Implementation Guidelines to support compliance with Article 26 of the Digital Services Act, in conjunction with the OpenRTB DSA Transparency Extension. Article 26 requires online platforms to provide users with clear information about the ads they see, and the DSA Transparency Extension helps facilitate this by enabling data flow through the ad supply chain.

Version 1.1 includes updates such as a DCO use case, guidance to prevent duplicate transparency displays, and VAST icon support for video ads. The DSA Ads Transparency Taskforce continues to work with regulators and the industry to refine the framework and promote its adoption.

▸ Week 22

• - Publishers cautious despite Q2 ad spend rebound.
• - Google’s AI Mode changes search traffic patterns, and winners and losers emerge.
• - IAB Europe launches Retail Media Certification Programme for retailers and tech vendors.
• - UK and EU announce new AI collaboration framework to boost innovation.
• - Google’s Discover traffic rises while search click-throughs decline post-update.
• - ANA benchmark reveals $21.6B in missed value, MFA share drops, SSP consolidation stalls.
  

Media Briefing: Ad spend rebounds in Q2, but publishers brace for a murky second half.

Digital ad spend reached $90.7B from January to April 2025, up 6% YoY, with digital capturing 64% of total spend. Publishers report strong Q2 performance: direct and programmatic revenues are up across companies like Slate, Apartment Therapy, and Axios.

However, advertiser caution is growing due to political uncertainty and potential tariffs. Many brands are delaying campaign decisions to the last minute, compressing timelines and complicating planning for H2. Categories like retail, finance, tech, and beauty are spending more, while auto, music, and travel remain soft.

Publishers are responding with faster production cycles, efficient workflows, and diversified revenue strategies. As one exec put it: “We’re pacing to have our biggest Q2 ever — but we’re planning for the rest of the year with agility and backup plans.”

The winners and losers of Google’s AI Mode.

Google’s AI Mode is transforming the search experience, sparking concerns among publishers that AI-generated summaries may replace traditional blue links and reduce referral traffic. Daily Mail reported a 44% drop in CTR since the rollout of AI Overviews.

Winners include Google itself, advertisers, and publishers with strong direct audience relationships or diversified revenue (e.g. subscriptions, newsletters, apps). Retail media networks may also benefit, as AI Mode is well-suited for commerce-related queries.

On the losing end are news publishers, review sites, and recipe blogs, whose content may be summarised without clear attribution or links. SEO consultancies also face disruption as Google’s ranking shifts from keyword/link-based to context and trust signals.

Publishers can’t opt out of AI Mode without disappearing from search results entirely. Meanwhile, traditional metrics like CTR are becoming harder to track, and visibility is emerging as the new currency in this evolving ecosystem.

IAB Europe Officially Launches Retail Media Certification Programme for Retailers and Expands Beta Test to Ad Tech Participants.

IAB Europe has officially launched its Retail Media Certification Programme for retailers, setting a new standard for transparency, consistency, and accountability in retail media measurement across Europe. Nectar360 and Albert Heijn are set to become the first certified retailers after completing independent audits.

Alongside this, IAB Europe is expanding the initiative by launching a beta phase for ad tech companies supporting the retail media ecosystem. The certification, developed in consultation with industry experts, includes alignment with global standards and auditing by recognised bodies like AAM, ABC UK, and CESP.

The programme aims to remove complexity, build advertiser confidence, and support growth in retail media investment. A full rollout for ad tech participants is expected in 2026.

Fresh UK-EU collaboration on AI to unlock new avenues for innovation and research.

The UK has launched a new AI collaboration programme with the EU, aiming to link British research institutions with Europe’s top supercomputers. Public organisations can now apply to host the UK’s “AI Factory Antenna,” a hub connecting UK talent to high-performance compute infrastructure across Europe.

The initiative is part of the UK government’s Plan for Change and seeks to accelerate breakthroughs in healthcare, clean energy, and AI model development. Backed by up to €5M in joint UK–EU funding, the programme is also tied to broader plans for AI Growth Zones and a national Compute Strategy.

Search slips, Discover delivers: Publishers navigate latest Google update.

Google’s March core update led to minor dips in Search traffic for some publishers, but Discover has picked up some of the slack. Chartbeat data shows a 9% drop in Search pageviews and a 6% rise in Discover traffic from January to April 2025.

AI Overviews and Reddit’s rising visibility in search results are causing concern, but Discover—now expanding to desktop—offers some relief. CTR in Discover is significantly higher than in Search (8% vs. ~2%), though traffic remains volatile and unpredictable.

While some publishers report stable or even rising Google referrals, many are still adjusting to the shifting dynamics of AI-driven results. Discover may help offset losses, but it's no guaranteed long-term strategy.

Programmatic Transparency Benchmark: Q1 2025 Benchmark Findings. 

ANA’s Q1 2025 Programmatic Transparency Benchmark shows progress in spend efficiency, with 41% of programmatic budgets reaching quality impressions (non-IVT, measurable, viewable) — up from 36% in 2023.

However, the newly introduced TrueCPM Index reveals a 37.8% optimisation gap, representing $21.6B in unrealised media value globally. MFA spend dropped sharply from 15% to 0.4%, but SSP consolidation continues to lag, with the median number of partners rising from 14 to 19. CTV's share grew to 30% of programmatic spend, with modest improvements in measurability and viewability. The report urges marketers to streamline supply paths and tighten domain lists to unlock further efficiency.

▸ Week 21

• - Google’s AI Mode expands – publishers fear fewer clicks
• - Generative AI fuels a new wave of ad fraud
• - Google pushes back as DOJ trial enters remedy phase
• - ChatGPT referral traffic to publishers nearly doubles
• - GroupM and PubMatic blur the SSP–DSP line
• - Amazon upgrades APS tools for publishers
  
• - Digital ad spend in Europe grew 16% in 2024

Media Briefing: Less clicks, more problems: What Google’s AI Mode means for publishers.

Google has begun rolling out its AI Mode in search, which uses generative AI to answer queries directly on results pages, raising serious concerns among publishers about further declines in referral traffic. The feature, powered by the Gemini 2.5 model, integrates ads and attributes content with less visible links, reducing the likelihood users will click through to publisher sites.

Publishers report early traffic drops and worry that AI Mode, like AI Overviews before it, will accelerate the trend of "zero-click" searches, especially affecting content-heavy sites like news and recipes. With no access to click-through data and limited time to prepare, publishers are unsure how to respond and increasingly consider diversifying traffic sources beyond Google.

‘We’re seeing an immense uplift in the scale’: How generative AI is fueling the next wave of ad tech fraud.

Generative AI is accelerating ad tech fraud by enabling content farms to plagiarise publishers’ ads.txt files and mimic reputable websites, siphoning ad revenue through spoofed domains. DoubleVerify has identified over 100 such "AI slop sites," which mass-produce low-quality, scraped content and deceive ad platforms into treating them as legitimate publishers.

While the core fraud tactics aren't new, AI dramatically increases the scale and speed of execution, exacerbating long-standing issues in programmatic advertising. Industry experts argue that the real solution lies not in new tech fixes, but in enforcing stricter standards, building direct publisher relationships, and holding ad tech vendors accountable. 

The Rundown: How Google is sizing up to the DOJ in its ad tech antitrust trial. 

Google is pushing back against the U.S. Department of Justice's proposed remedies following a court ruling that found it illegally monopolised parts of the ad tech market, specifically its publisher ad server and ad exchange. While the DOJ seeks a structural breakup—including the divestiture of DFP and AdX—Google counters with behavioural remedies such as better interoperability, data portability, and auction logic changes.

Google argues that the DOJ’s remedies are excessive, technically unfeasible, and would hinder innovation, especially given the role of AI in modern ad tech. The next phase of the legal process includes factual discovery starting June 3, with the trial scheduled for September 22, 2025.

ChatGPT referral traffic to publishers’ sites has nearly doubled this year.

ChatGPT is sending significantly more traffic to news and media sites, with 83% of its outbound referrals in April 2025 going to these publishers—up from 64% in January. Total visits to 250 news sites nearly doubled from January to April, reaching 243.8 million, though some outlets like CNN’s Spanish edition and HuffPost saw notable declines.

This increase follows the rollout of ChatGPT’s real-time search feature, which links to sources and was made widely available in February. Despite the growth, publishing execs say the traffic is still minimal compared to platforms like Google, and unlikely to compensate for losses due to declining search referrals.

How GroupM Is Collaborating With PubMatic As The SSP Gets Closer To The Buy Side.

PubMatic is evolving beyond its SSP roots by expanding its Activate self-serve tool and introducing AI-driven features that directly support media buyers, blurring the lines between SSPs and DSPs. This strategic shift aims to simplify deal-making and improve access to premium inventory, driven by advertiser demand for quality and efficiency amid growing concerns about the open web.

PubMatic’s AI tools help automate curation and optimisation, powered by its owned data infrastructure and billions of daily ad impressions, while maintaining compatibility with DSPs. As agencies like GroupM adopt federated AI models and seek closer ties with key partners, PubMatic's move towards end-to-end programmatic solutions positions it as a central player in the ongoing industry consolidation.

Amazon Publisher Services Unveils Suite of Innovations at Annual Summit 2025.

At its annual summit, Amazon Publisher Services (APS) announced a wide range of innovations, including major updates to Amazon Publisher Cloud (APC), Signal IQ, and the introduction of new ad formats. APC now offers outcome-based campaign planning and expanded support for all online video formats, helping publishers optimise Streaming TV and display deals via Amazon DSP.

APS also launched enhanced Demand Channel Reporting and general availability of Signal IQ, which helps publishers assess the value of bidstream signals and IDs, with some seeing a 29% revenue increase. Additionally, APS introduced a Prebid adapter that allows publishers to integrate APS with existing Prebid setups and over 60 demand partners, reducing latency and simplifying third-party connections, while new tools like Native ads and Canvas enable no-code, high-engagement ad experiences.

IAB Europe AdEx Benchmark 2024 Report.

The 19th edition of the AdEx Benchmark Report provides a comprehensive overview of advertising expenditure across 30 European markets, including Portugal for the first time. The European digital advertising market grew by 16% in 2024, reaching a record €118.9 billion, with strong performance in channels such as social media (+23.9%), video (+24.5%), and retail media (+22.2%).

Programmatic and digital audio also saw solid gains, while digital advertising now accounts for 67.2% of total ad spend across the region. The UK led in revenue with nearly €42 billion, while emerging markets like Ukraine and Serbia posted impressive growth, reflecting increasing advertiser confidence.  Report download link.

▸ Week 20

• - Microsoft shuts down its DSP to focus on AI and ad tech simplification
• - Industry voices call for rebranding the 'open web' to reflect today's ecosystem
• - Tariff uncertainty affects consumer behavior and disrupts advertiser planning
• - Publishers face declining search traffic as AI shifts discovery habits
• - Belgian court limits IAB Europe’s role in RTB, confirms TC Strings are personal data
• - Disney, Netflix, and others pitch new ad formats and AI tools at Upfronts
• - IAB opens public comment on attention measurement guidelines to drive standardisation
  

Ad Tech Briefing: Microsoft’s DSP closure signals ad tech consolidation, as well as the AI arms race.

Microsoft is shutting down its demand-side platform, Xandr Invest, by February 2026, as part of a broader strategic pivot toward AI-driven and privacy-centric advertising. The company believes traditional DSPs can no longer support personalised, conversational ad experiences and is instead focusing on its unified Microsoft Advertising Platform.

This move reflects wider industry consolidation, with Microsoft doubling down on curated, sell-side tools while distancing itself from legacy ad tech infrastructure. As DSPs and SSPs increasingly overlap in function, the closure underscores a shifting programmatic landscape where curation, AI, and value transparency drive competition. 

Why It Might Be Time To Rebrand The Open Web.

The open web is facing existential challenges, with declining traffic and ad revenue, increasing dominance by walled gardens, and confusion over how to define quality in advertising. At LUMA’s Digital Media Summit, industry leaders debated the future of the open web, highlighting a lack of shared standards and the oversupply of low-quality ad inventory.

Generative AI threatens to further disrupt the landscape by making content production cheap and abundant, potentially shifting focus from supply to demand. Despite the chaos, some argue the open web remains a major opportunity—perhaps under a new name like “open ecosystem”—if the industry can overcome fragmentation and collaborate more effectively.

Digiday+ Research Briefing: A look at how tariffs could impact consumer and advertiser spending.

Tariffs are creating widespread uncertainty, impacting consumers, retailers, and advertisers alike, with the Economic Policy Uncertainty Index reaching its highest level since the pandemic. A Wharton study shows that nearly all U.S. households will experience a drop in gross income due to tariffs, prompting reduced consumer spending.

The effects are rippling through supply chains and altering the timing and strategy of key shopping events, as brands reconsider promotions around Prime Day and Black Friday. Advertisers are also bracing for potential declines in ad spend, with projections for 2025 varying significantly based on how the tariffs unfold.

Media Briefing: Reliant on search, haunted by AI: publishers at a crossroads.

Publishers are facing a significant decline in search referral traffic due to the rise of AI-driven features like Google’s AI Overviews, which are increasingly replacing traditional search results with zero-click answers. Studies show a drastic drop in click-through rates when AI Overviews are present, and major publishers are reporting notable losses, prompting a shift away from reliance on Google traffic.

As AI platforms like ChatGPT and Perplexity grow, many in the industry acknowledge that these engines are unlikely to link back to publishers, creating further challenges for content visibility and monetisation. Amid short-term commercial pressures, publishers now face an “innovator’s dilemma,” needing to maintain current traffic while simultaneously reinventing their strategies for a future with fewer platform-driven referrals. 

The Legality Of RTB In Europe Has Been Settled, And Nobody’s A Winner.

A Belgian appeals court has ruled that IAB Europe is a joint data controller for its Transparency & Consent Framework (TCF), affirming that TC Strings are personal data and upholding a €250,000 fine. However, the court adopted a narrower definition of data controllership than previously set by the Belgian DPA, easing concerns that IAB Europe would be liable for all processing by ad tech vendors.

The ruling confirms that the TCF is legal, and publishers or vendors using the current version (updated in 2023) need not make changes beyond including IAB Europe in consent notices. While some critics claim the TCF is now risky, IAB Europe maintains the market impact is minimal and manageable.

Upfronts and NewFronts in Review: Disney, Netflix, YouTube, NBCUniversal, and More.

The 2024 Upfronts and NewFronts showcased major media companies pitching new content, ad tech, and innovation to advertisers, with a strong focus on sports, AI, and streaming. NBCUniversal spotlighted live sports and interactive features for Peacock, while FOX launched its new streaming and ad platforms, FOX One and OneFOX.

Warner Bros. Discovery introduced NEO and DemoDirect to streamline ad buying, and announced the return of the HBO Max brand. Amazon leaned into sports and unveiled AI-powered and shoppable ad formats, along with a clean room solution for publishers.

Netflix highlighted the growth of its ad-supported tier and introduced new measurement tools and generative AI creative features. Meta, Condé Nast, and The New York Times used the NewFronts to push creator-led video, contextual targeting, and product placement opportunities, signalling a shift toward immersive, platform-native ad experiences. 

Attention Measurement Guidelines: Now Open for Public Comment.

The IAB and Media Rating Council (MRC) have released draft Attention Measurement Guidelines for public comment, developed through the Attention Task Force with input from over 200 industry experts. The Guidelines aim to establish a consistent framework for measuring attention across data signals, visual/audio tracking, physiological methods, and panel-based approaches.

They are intended to enhance transparency, consistency, and comparability in attention metrics and will underpin future MRC accreditation audits. Stakeholders are invited to review and comment on the draft by 12 July 2025, ahead of the final version’s expected release later in the year. Download the draft here.

▸ Week 19

• - BuzzFeed, News Corp and NYT push back on tariff concerns in earnings calls
• - Publishers see subscription revenue growth and aim to expand it further
• - Walled gardens win as marketers seek easier, streamlined solutions
• - Economic uncertainty and brand safety concerns cloud NewFronts pitches
• - AI adoption in publishing becomes real — and measurable
• - DOJ outlines proposed remedies for Google’s ad tech monopoly
• - Chrome Privacy Sandbox testers see promise despite challenges
• - Marketers question Google’s long-term dominance amid platform shifts

Buzzfeed, News Corp and New York Times push back on tariff fears in earnings calls. 

Publishing executives expressed cautious optimism during Q1 2025 earnings calls, reassuring investors that their businesses remain stable despite economic uncertainty and potential impacts from President Trump’s tariff policy. While companies like BuzzFeed, Dotdash Meredith, and Gannett reported mostly flat digital ad revenues, The New York Times stood out with a 12% year-over-year increase.

Many publishers are leaning more on programmatic advertising, seen as more resilient during downturns, although some, like Dotdash Meredith, noted softening in programmatic pricing. Overall, publishers remain vigilant, acknowledging that it's too early to predict the full effects of tariffs on ad spending, with next quarter likely offering clearer insight. 

Digiday+ Research: Publishers’ subscription revenue is up this year, and they’ll focus on growing it even further.

With growing uncertainty, publishers are increasingly looking to diversify their revenue streams, with subscriptions becoming a key area of focus. According to Digiday+ Research, 70% of publishers in Q1 2025 reported earning at least some revenue from subscriptions, up from 56% in Q1 2024.

The share of publishers generating a large or very large portion of their revenue from subscriptions also jumped significantly, from 7% in 2024 to 24% in 2025. This marks a reversal of a previous downward trend, indicating renewed confidence in subscriptions as a revenue source.

Publishers are also planning to invest more in subscriptions, with 85% saying they'll focus on building this part of their business in the next six months, up from 59% last year. Additionally, 43% plan to put a large or very large focus on subscriptions, up from 30% in 2024, suggesting a strong strategic shift.

Walled Gardens Are Winning Because Brand Marketers Want More Easy Buttons.

Marketers often feel disconnected from the complex world of programmatic advertising, as seen at the Possible conference, where many brand professionals showed limited knowledge of DSPs, SSPs, or core programmatic concepts. Despite increasing adoption, programmatic remains opaque and overly technical for many, with simplicity emerging as the key priority for advertisers.

Major platforms like Google and Amazon are capitalising on this demand by offering AI-powered, one-click solutions that promise ease and efficiency, often rooted in their robust first-party data. As a result, even large brands are gravitating toward vendors that offer streamlined processes and trusted ecosystems, rather than navigating the fragmented programmatic supply chain.

Media Briefing: Economic uncertainty and brand safety jitters shadow publishers’ pitch at NewFronts.

At this year’s IAB NewFronts, news publishers pushed for greater ad investment by shifting their messaging away from idealistic appeals and toward practical value and audience outcomes. Publishers like The Guardian, Yahoo, and The New York Times highlighted non-hard news content and brand-safe targeting tools to attract hesitant advertisers.

Despite these efforts, investment in news media remains low, with some agencies allocating less than 4% of their budgets to news, down from over 20% before 2016. Advertisers’ continued reliance on keyword blocking and risk aversion poses a major challenge, though initiatives like Stagwell’s “Future of News” aim to reset perceptions and promote news content as viable and effective ad inventory. 

From hype to reality: AI in publishing — by the numbers. 

AI tools like Google’s AI Overviews, ChatGPT, and Perplexity are significantly disrupting publishers’ traffic and control over their content, with AI-driven referrals drastically lower than traditional search. Despite measures like robots.txt, scraping by AI bots has intensified, often bypassing protections and disproportionately affecting independent publishers.

Lawsuits from outlets like The New York Times and Ziff Davis reveal the vast scale of unauthorised AI training on publisher content, while Google reportedly continues using scraped content for AI features even when publishers opt out. Though some publishers with AI deals are seeing small gains in traffic, the increases are modest, and independent publishers appear to be the most vulnerable to traffic loss.

The Rundown: What Google and the DOJ are proposing for ad tech antitrust remedies.

The U.S. Department of Justice wants to break up Google’s ad tech dominance through a three-phase structural remedy, including forced divestiture of AdX and DFP, open-sourcing auction logic, and placing revenues in escrow until the process is complete. Google is offering less drastic concessions like real-time data access and ending certain pricing rules, but critics argue these behavioural fixes don’t go far enough.

The court is weighing whether true competition can be restored without removing Google’s core ad infrastructure, and the idea of a breakup is now seen as increasingly plausible. The remedies trial begins in September 2025, with a detailed timeline for filings, expert reports, and responses leading up to the court’s decision. 

Most Chrome Privacy Sandbox Testers See A Silver Lining In Their Investment. 

Many ad tech companies and publishers invested heavily in testing Google’s Privacy Sandbox, only to find themselves questioning the value after Google delayed cookie deprecation and withheld a new consent mechanism. While some, like Adform, expressed disappointment over wasted resources, others such as NextRoll and Criteo saw the work as beneficial for modernising infrastructure and building industry relationships.

Despite limited commercial returns, the testing helped drive broader interest in cookieless targeting and first-party data strategies. Publishers like Mediavine and Raptive noted that while some Sandbox tools showed potential, real progress depends on whether Google’s ad platforms generate sufficient demand to make the ecosystem viable.

What if Google isn’t forever? Marketers grapple with a platform in flux.

Marketers are re-evaluating their reliance on Google following antitrust rulings and ongoing frustrations around its dominance in search and advertising. While many are quietly exploring alternative ad tech partners and pushing for more transparency and flexibility, they remain cautious, with most spend and strategy still anchored in Google’s ecosystem.

The shift is more about preparing for possible change than making radical moves, as clients seek greater "strategic sovereignty" without abandoning Google’s scale and performance. For now, the mood is one of cautious optimism and growing friction, not rebellion, but a readiness to adapt if the ground shifts further.

▸ Week 18

• - Google adds transparency tools to PMax amid advertiser pressure
• - Generative AI moves from hype to utility at Possible conference
• - Publishers declare Privacy Sandbox effectively dead after reversal
• - Curation fees mirror old SSP cuts, not a new ad tech tax
• - Chrome sale? OpenAI, Yahoo and others eye browser if Google forced to divest
• - SSPs and DSPs edge toward convergence, but full unification unlikely
  

Ad Tech Briefing: Google’s Pmax updates suggest it might finally listen. 

Google’s Performance Max campaigns have faced growing criticism from advertisers who see them as opaque and difficult to optimise. Many describe PMax as a “black box” that lacks clarity on which channels, keywords, or creatives drive conversions, especially worrying for retailers who struggle to separate branded from non-branded traffic.

In response, Google has introduced long-requested updates, including channel-level performance reporting, full search term insights, and more detailed asset-level metrics. Advertisers can now better understand how their campaigns perform across YouTube, Search, Gmail, Display, and Maps. These updates also include diagnostics to highlight issues and suggest fixes, such as improving landing page relevance.

While this marks progress toward transparency, many in the industry remain sceptical about whether it will be enough to rebuild trust or satisfy regulators. Still, it’s one of the clearest signs yet that Google might finally be listening.

At Possible, generative AI shifts from shiny object to useful tool, but with a long way to go.

At the Possible conference, the tone around generative AI shifted from hype to practical application. Marketers are now more focused on how AI can improve efficiency, content quality, and campaign performance, not just future potential. Discussions highlighted AI’s value in streamlining operations, enhancing personalisation, and tackling fraud, but also exposed the need for more transparency and realistic expectations.

While many companies are experimenting with AI, especially in creative and segmentation, most are still in the early stages.  The takeaway: AI is becoming useful, but the industry is still far from fully ready.

It’s dead’: Publisher confessions on the future of Google’s Privacy Sandbox.

Many publishers now consider the Privacy Sandbox effectively dead, following Google’s decision not to deprecate third-party cookies in Chrome. Several publishers stopped testing the Sandbox months ago without clear incentives or strong advertiser participation, especially after a Criteo report warned of potential 60% drops in CPMs.

While some of the technology may still find use elsewhere, the current version of Sandbox lacked adequate targeting capabilities and performance.  Several publishers expressed relief at not having to prepare for a future that could have significantly hurt revenue. Uncertainty around the future ownership of Chrome also adds to doubts about the Sandbox’s long-term viability. 

Publishers: Don’t Fear Curation Fees, They’re Just The Same Old Ad Tech Tax. 

As sell-side curation becomes more common, publishers are concerned that SSPs may be taking a bigger cut, but most curation fees appear similar to standard SSP take rates.  According to Jounce Media, nearly 75% of bidding opportunities now involve curated deals, with only 19% coming from open auctions.

While half of curated deals carry no extra fees, the other half include margin-based or fixed CPM costs that can vary widely.  Transparency remains a key issue, especially in multi-publisher deals where publishers struggle to understand performance or budget flows. In the end, the revenue publishers receive hasn’t changed much — it’s just flowing through different middlemen.

The Rundown: The potential browser buyers if Google’s forced to sell Chrome.

As part of the DOJ’s proposed remedies in the Google search antitrust case, a forced divestiture of Chrome is now on the table — and several major players have expressed interest. OpenAI, Perplexity, Yahoo, and DuckDuckGo each gave testimony outlining their motivations for acquiring the browser, ranging from AI integration to regaining search market share.

OpenAI and Perplexity both see Chrome as a crucial distribution channel for AI-powered search, while Yahoo views it as a key to scaling its comeback in search and media. DuckDuckGo, despite interest, admitted it likely couldn’t afford Chrome’s estimated $50B price tag or maintain its infrastructure. Regardless of the buyer, a sale would have major implications for the future of search, advertising, and browser-level competition.

The Evolution of SSPs & DSPs: Are We Headed for a Converged Future? 

The long-standing divide between SSPs and DSPs may be narrowing as both sides explore convergence to reduce complexity, lower costs, and improve transparency. Some argue unified platforms could streamline ad buying and benefit advertisers, but others warn it might obscure fees and hurt publishers' margins.

Companies like The Trade Desk and Magnite present different visions of the future, while industry voices suggest the likely outcome is partial convergence, where major players integrate more functions but SSPs and DSPs remain distinct. For now, advertisers may benefit most, while publishers stay cautious.

▸ Week 17

• - Publishers reassess first-party data plans as cookie deprecation stalls
• - New dashboard shows how buyers rate publishers’ data practices
• - Publishers react to Google's cookie U-turn with mixed feelings
• - Google’s ad tech found to be a monopoly — what now for publishers?
• - Apple and Meta breached DMA, says European Commission
• - Google updates roadmap for Privacy Sandbox and Chrome protections

Digiday+ Research: Publishers were ready to depend more on first-party data. So, now what?

Google’s decision to keep third-party cookies in Chrome has left publishers with mixed emotions—frustration over wasted resources but also appreciation for the push to strengthen first-party data strategies. Publishers were prepared for a shift towards first-party data, with surveys showing its growing role in driving ad revenue.

By Q1 2025, 71% of publishers said first-party data was most significant for positive ad outcomes, a figure expected to rise to 85% for 2026. Meanwhile, reliance on third-party data has been steadily declining, with only 7% anticipating it will be key in 2026.

Publishers had plans to significantly increase the share of ad impressions served by first-party data, though many still reported low current usage levels. Despite these preparations, over half of publishers admit they can only somewhat effectively address audiences across all browsers, highlighting ongoing challenges with addressability in a cookie-restricted environment. 

Publishers Now Have A Window Into How Buyers Score Their Data Practices. 

Publishers often face being unknowingly placed on blocklists due to media quality, brand safety, or data privacy issues, which can impact their ad revenue and visibility in programmatic campaigns. To address this, the Brand Safety Institute (BSI) launched a free dashboard allowing publishers to view evaluations from participating vendors, recently expanding to include data privacy scores from Compliant and media risk metrics from Jounce Media.

These tools aim to promote transparency and help publishers demonstrate ethical data practices, but there’s concern that such assessments could unintentionally harm legitimate publishers by limiting their monetisation opportunities. While initiatives like curated PMPs based on quality scores benefit buyers, publishers remain under pressure due to declining traffic and revenue, leading some to risky data monetisation practices out of necessity.

Media Briefing: Publishers are frustrated — and quietly grateful — after Google’s cookie u-turn. 

Publishers are frustrated by Google’s reversal on third-party cookie deprecation after years of costly preparations, but many acknowledge it pushed them to strengthen first-party data strategies and build more resilient businesses. While the Privacy Sandbox was widely seen as inadequate, publishers plan to continue developing cookieless solutions at their own pace, balancing immediate revenue from cookie-based ads with long-term privacy-safe alternatives.

The U-turn is viewed by some as a response to regulatory pressures, with doubts about Google’s commitment to supporting the open internet amid increasing scrutiny. Despite the setback, publishers believe the shift away from third-party cookies will continue due to global privacy regulations and evolving industry standards. 

Publishers remain unsure of what comes next, even as Google’s ad tech is ruled a monopoly.

Publishers felt vindicated after a U.S. judge ruled that Google illegally monopolised ad tech, but uncertainty about the future has tempered celebrations. The potential forced divestiture of Google’s ad server and exchange could take years and may not deliver meaningful change without strict oversight.

Publishers fear that even if Google spins off parts of its ad business, it could still retain dominance through exclusive partnerships and opaque algorithms. There’s concern that Google might shift focus to its own platforms and AI, leaving publishers with fewer monetisation options.

Despite frustration and fatigue, some publishers see this ruling as a rare opportunity to open up the market and reduce Google’s control. However, real optimism depends on how remedies are enforced to prevent history from repeating itself. 

Commission finds Apple and Meta in breach of the Digital Markets Act.

The European Commission has fined Apple €500 million and Meta €200 million for breaching the Digital Markets Act (DMA), marking the first non-compliance decisions under the regulation. Apple was found to have restricted app developers from informing users about alternative offers outside the App Store, while Meta’s "Consent or Pay" model failed to give users a proper choice regarding personal data use.

Both companies must comply with the rulings within 60 days or face additional penalties, as the Commission continues monitoring their adherence to DMA rules. These decisions aim to enforce fair competition, protect consumer rights, and reduce the dominance of major tech platforms in the EU market. 

Next steps for Privacy Sandbox and tracking protections in Chrome.

Google has decided to maintain its current approach to third-party cookies in Chrome, citing evolving privacy technologies, AI advancements, and regulatory changes, while continuing to enhance privacy protections like IP Protection and Incognito mode. The company will work with the industry to redefine the role of Privacy Sandbox APIs and share an updated roadmap, aiming to balance privacy with a sustainable, ad-supported internet.

▸ Week 16

• - The Weekly Wrap is taking a break this week – we’ll be back next week!
  

▸ Week 15

• - Publishers are becoming slightly less reliant on ad revenue in 2025
• - Tariff fears grow as publishers brace for ad budget cuts and print cost spikes
• - AI revenue models raise hopes and doubts for publishers
• - CTV fraud remains a serious concern with calls for stricter oversight
• - EU consumers support ad-funded web but want better privacy experiences
  
• - Creative Ad ID Framework adoption is key for cross-platform measurement
• - The Trade Desk’s OpenPath drives higher yield for Freestar publishers

Digiday+ Research’s 2025 ad snapshot: Are publishers becoming less dependent on ad revenue?

Publishers are becoming slightly less dependent on advertising revenue, with fewer reporting that the majority of their income comes from ads compared to last year. In Q1 2025, 45% of publishers said over 60% of their revenue would come from advertising, down from 51% in Q1 2024, while more publishers now fall into the mid-range of ad dependency (21–60%).

This shift is expected to continue into 2026, with only 38% anticipating high ad dependency, and 56% expecting moderate reliance. Despite these changes, ad revenue remains central to publishers’ business models, with 86% citing total ad revenue as their key success metric, followed by CPM/eCPM at 69%.

Nearly half also prioritise ad pricing and yield, while over a third consider campaign performance and renewal rates important. To boost ad revenue, 69% of publishers say producing high-quality content is the most effective strategy, alongside ad optimisation, data analytics, audience segmentation, and native advertising.

Publishers watch warily as tariffs loom over ad budgets and print costs.

Publishers are cautiously monitoring the impact of Trump’s tariffs, concerned about rising production costs and reduced ad budgets, but have not yet adjusted forecasts significantly. Many expect the tariffs to dampen ad revenues, particularly in sectors like luxury and fashion, while prompting a shift towards more direct ad deals.

Smaller local newspapers are especially vulnerable, facing potential closures due to higher costs of Canadian newsprint, with some already shutting down, contributing to the rise of “news deserts” in the U.S. Industry leaders and trade associations are urging government reconsideration of these tariffs, warning of long-term harm to journalism and the financial stability of publishers of all sizes.

Media Briefing: The pros and cons of different AI revenue models for publishers.

Over the past year, publishers have explored various AI revenue models including content licensing, ad revenue sharing, and pay-per-use structures, amid growing tensions with AI companies over content use. Major deals with companies like OpenAI and Google offer publishers millions in licensing fees and attribution, but concerns remain about transparency, long-term value, and inconsistent deal execution.

Ad revenue-sharing models from AI search engines like Perplexity and ProRata allow publishers to earn when their content appears in AI-generated results, offering flexibility and accessibility, especially for smaller publishers — though actual earnings are still unclear and minimal. Tollbit’s pay-per-use model introduces a toll-like system for AI scrapers, offering publishers more control over content access and potential savings on bot-related costs, though monetisation is still largely hypothetical.

While these models offer promise, they’re still in early stages, and many publishers are sceptical about how much revenue they will realistically generate. The industry is pressing for more transparency and better terms as it tries to shape a sustainable role for journalism in the AI-driven digital ecosystem. 

CTV Still Has A Fraud Problem. 

Fraud remains a major issue in the online advertising ecosystem, especially in CTV, where up to 30% of inventory sold may be fraudulent. Despite this, many in the ad tech industry avoid addressing the problem due to misaligned incentives and fear of disrupting the status quo.

Experts argue that responsibility lies with programmatic intermediaries, who should implement strict Know Your Customer (KYC) rules, regular audits, and penalties to ensure inventory quality and transparency. While self-regulation has been limited, new legislation—like a proposed Vermont bill—may be necessary to enforce accountability and protect advertisers and publishers.

New IAB Europe Study Highlights Consumer Attitudes Towards Personalised Advertising, Privacy, and the Value of Free Online Services. 

A new IAB Europe study conducted by Kantar shows that while European consumers value data privacy, they also recognise the importance of ad-supported digital services, which provide an estimated €212 worth of free tools monthly. Most consumers find a “pay or consent” model reasonable when they understand the value exchange, especially as personalised advertising helps fund free access.

Although GDPR has increased awareness of privacy rights, the study reveals ongoing frustrations with exercising those rights and a disconnect between consumer preferences and their actual ad experiences. 

IAB Europe calls for policy measures to protect access to free services, improve consumer education on digital advertising, and promote practical, privacy-conscious consent mechanisms. The full report is available here.

Who’s got the (Creative) Ad ID? 

The rapid growth of the CTV advertising ecosystem has led to challenges in measurement, reconciliation, and cross-platform reporting, largely due to inconsistent use of standardised creative identifiers. The Ad Creative ID Framework (ACIF) addresses this by assigning a unique ID to each creative, streamlining processes and enabling accurate reporting across platforms and publishers.

While 100% of linear TV ads use IDs, only around 10% of CTV transactions do, resulting in fragmented data and difficulty tracking performance across campaigns. Adopting ACIF simplifies cross-platform and cross-publisher reporting, reducing operational burden and improving insights into ad effectiveness.

To realise these benefits, all stakeholders—including advertisers, agencies, registries, platforms, and publishers—must update their processes and embrace Creative ID validation and automation. With industry-wide adoption, ACIF can unlock greater efficiency and ROI, and if implemented now, could become the standard for streaming ads by the 2026 upfronts. 

The Trade Desk’s OpenPath Is One Of Freestar’s Top Demand Sources. 

The digital ad industry is shifting from low-cost volume to high-quality inventory, with Freestar's integration of The Trade Desk’s OpenPath exemplifying this trend. Since implementing OpenPath, Freestar has seen doubled ad spend from TTD, a threefold increase in inventory fill rates, and a 27% rise in programmatic revenue, thanks to cleaner supply paths and closer collaboration with buyers.

Direct DSP connections like OpenPath reduce reliance on SSPs, improving transparency, reducing fees, and enabling more effective yield optimisation and audience targeting. While DSPs and SSPs now compete more directly, they continue to collaborate, creating a more competitive ecosystem that ultimately benefits publishers.

▸ Week 14

• - Google’s Curation Push Raises Antitrust Questions
• - Subscriptions and Events Gain Importance for Publishers
• - Spotify Launches Its Own Ad Exchange
• - IAB Europe Introduces Sustainability Toolkit LEAF
• - UK Publishers Prioritise Data Strategy and Header Bidding
• - WARC Cuts 2025 Global Ad Spend Forecast by $20bn
• - Apple Fined €150M in France over Privacy Tool
• - Labour’s Policy Shift Reshapes UK Ad Tech and AI Strategy
  

Ad Tech Briefing: Is Google’s curation tool a play for second-mover advantage or an antitrust swerve?

Digiday explored whether breaking up Google would meaningfully address current ad tech market challenges, suggesting that such regulatory actions might be outdated for today’s complex ecosystem. A key trend discussed is the rise of ad curation — tools that shift decision-making closer to the sell side, potentially empowering publishers and enhancing transparency.

Google has entered the curation space, partnering with Scope3 and positioning its platform as DSP-agnostic, possibly to maintain influence amid looming antitrust actions. Some insiders believe this move could future-proof Google’s dominance, even if forced to divest parts of its ad tech stack. 

Digiday+ Research: Subscriptions and events gain steam among publishers’ most significant sources of revenue. 

Direct-sold ads remain the top revenue source for publishers in Q1 2025, with 100% of respondents reporting at least some income from them, up from 98% in 2024. Branded content rose to the second spot, while video advertising fell to third, and programmatic ads held steady in fourth place.

Affiliate commerce jumped from seventh to fifth, while subscriptions dropped out of the top five, despite 70% of publishers still earning from them. However, both subscriptions and events have grown significantly as sources of large revenue, now ranking fourth and fifth in that category.

Branded content and programmatic ads also became more significant contributors to publishers’ major revenue streams this year. Overall, the revenue gap between the top five sources has narrowed, suggesting that publishers are diversifying their income more than in previous years.

Spotify’s New Ad Exchange Is Open For Business.

Spotify has officially launched its programmatic ad exchange (SAX) after six months of pilot testing with The Trade Desk, expanding access to buyers through platforms like DV360 and Magnite, with more DSPs on the way. The company is also integrating major ID solutions like Unified ID 2.0, RampID, and Google PAIR to support addressable advertising across audio, video, and display.

Alongside SAX, Spotify rolled out new features in its self-serve Ad Manager, including custom audiences, performance goals like app installs, and AI-generated audio ads for US and Canadian advertisers. Spotify aims to position itself as a full-funnel, performance-driven platform with robust ad tech capabilities, leveraging its logged-in audience and expanding ad tools to support both large and small advertisers. 

IAB Europe Launches LEAF: Smart Solutions for Sustainable Digital Advertising.

IAB Europe has launched LEAF, a centralised suite of tools aimed at helping digital advertising stakeholders reduce their environmental impact. Developed by IAB Europe’s Sustainability Standards Committee, LEAF provides transparent emissions tracking, sustainability best practices, and tools like OpenGHG and CreativeLi to support measurable climate action.

The platform is designed to address industry concerns around data reliability and accessibility, offering practical solutions to help advertisers, agencies, and publishers integrate sustainability into their strategies. LEAF is free for IAB Europe members, with discounted access for National IAB members, reflecting a broader push toward inclusive, industry-wide environmental responsibility. 

WARC Downgrades Ad Spend Outlook by $20bn.

WARC’s latest forecast shows a $20bn downgrade in global ad spend, yet digital advertising remains strong, fuelled by major players like Alphabet, Amazon, and Meta, with search, social, and retail media continuing to grow. While regulatory pressure from the EU, UK, and US poses risks, advertisers are increasingly using generative AI to drive engagement, and digital ad spend is still projected to rise significantly through 2025.

Apple hit with $162 million French antitrust fine over privacy tool.

Apple has been fined €150 million by French antitrust authorities for abusing its dominant position through its App Tracking Transparency (ATT) tool, which restricts third-party tracking on iPhones and iPads. The regulator found that while ATT’s aim of protecting user privacy is valid, its implementation disproportionately impacted smaller publishers and advertisers by making it harder and costlier to reach audiences.

Apple expressed disappointment but noted no changes to ATT were mandated, though the company must now ensure compliance as investigations continue in other EU countries. French officials dismissed concerns over potential U.S. retaliation, emphasising that both Europe and the U.S. are committed to enforcing antitrust laws strictly and apolitically.

Labour’s Impact on UK Ad Tech: What has changed so far?

Since Labour’s election victory, the UK ad tech ecosystem has seen early moves in data protection, creative industry investment, and AI development, though many policies remain in progress. The government introduced the Data Use and Access Bill to modernise privacy laws and committed substantial funding to the creative and AI sectors, aiming to boost productivity and global competitiveness.

However, Labour’s proposal to allow AI training exceptions under copyright law has sparked strong backlash from publishers and creatives. Meanwhile, new tech regulations have been enforced under the Online Safety Act, and tensions with US big tech may grow as the UK negotiates digital tax reforms in response to potential tariffs from President Trump.