Programmatic, retail media, connected TV and measurement: where ad budgets actually go.
4 articles
A supermarket earns two or three cents of net margin on a euro of groceries. It earns far more on a euro of advertising. That single arithmetic explains the fastest-growing category in media.
The deprecation deadline died. The direction did not. Roughly a third of European traffic already arrives without a third-party cookie, and consent rules mean the rest is shakier than the number suggests.
Recommendation widgets pay reliably and cost something that does not appear on the revenue report. For a magazine whose product is taste, that cost is usually larger than the cheque.
An ad impression is bought and sold in roughly the time it takes to blink, by five intermediaries you never signed a contract with. Here is the chain, in order, with the fee at each link.