PubMatic, Inc.

And in fact, it's the SSPs that have moved faster on this because as technologists, they've spotted the opportunity.

And so, for example, Pubmatic are doing great stuff.

They're building on IAB and ADCP standards.

And then you've got the new guard coming through, so Aperium Ventures, technologies like Bedrock and those types, who are all experimenting with things like containerization, which is the IABs across AMP, so injecting real-time or very fresh data into the bitstream to improve ROAS.

So yeah, I think, and we're already seeing, like it's already, it's live with, it's live with index.

Pubmatic has stood it up.

I know, I know it's on OpenX and Magnite roadmap.

Like it's being used.

There's obviously a lot of, well, there's a couple of companies that for whom that is the definition of agentic, and that's obviously fairly self-interested because they're existing programmatic platforms.

We all wait with bated breath, Jeff Green and the Trade Desk team's latest update, which seems to be Google's oldest update and exactly what PubMatic have been doing, but let's see where they go with that.

Mm.

But then there's true agentic, which is kind of agent-to-agent buying, where you, you're not just trying to sort of jury-rig old infrastructure with an agent over the top of it trying to replace that way of buying.

Don't worry about it.

So it's gonna have a real conversation about availability forecasting, and it's, it's a much, ironically, it's a much more human transaction than the, the, the current bid stream.

Th- why we're well-placed to do this is PubMatic's heritage, the, the core products we're known for in market is, uh, pricing auctions in the programmatic ecosystem.

So doing this, taking in as much data as we can, probabilistically estimating the price, and then try to set the right price in the auction and learn from it to ensure that publishers aren't, basically aren't screwed over by price-seeking behaviors of, of DSPs and the existing programmatic platforms, which brackets we were a DSP.

It's extremely exciting.

I think I look at the, since I've been here, and the roster of partners that we're working with from a programmatic platform standpoint, you know, Index Exchange, PubMatic, and now Trade Desk, extremely exciting.

You think about...

Listen, at the end of the day, I was on the buying side, now I'm on the sale side, and easy to buy is easy to sell.

And clients and agencies are expecting those same signals that they get, and if we wanna be looked at on CTV as a par with, you know, truly converged video across different screens, I think this is a huge step in, in helping, helping that, and bringing those segments.

And more importantly, once again, this isn't just a, "Okay, this is great for the buy side." I also see great for the sell side, to your earlier point, where you're potentially lifting up that premium or making content more discoverable that might not have kind of been on someone else's radar.

But because you have those content signals and you're passing them through, because it's available on an index or a Nexsen or a PubMatic or a Trade Desk, it really, you know, helps sort of ingrain that in the buying ecosystem and drive that demand and desire.

And I think the interesting thing, too, is we haven't even tapped into this yet, but just the thought around how everything's kind of moving towards an outcome, right? I'm really curious, and we're in early conversations with some, some clients and publishers on how do we test that? Like, great, run your audience segment, but, like, run this, and what does this do to your purchase intent or brand favorability or sort of cutting through that clutter? I'm very excited to see where that goes and be able to, you know, come back and maybe be a, if I'm invited, a third-time visitor to the Ad Tech Godpod and being able to kinda talk about, "Hey, we tested and saw this." It's exciting.

Number two is that Google will force the Google Ads, also known as AdWords, demand to bid non-discriminatorily into other exchanges.

So this is where the Pubmatics and Magnites and others of the world benefit most.

I have a quote here that Rajiv Gul from Pubmatic has been giving out that he estimates that every percentage point in market share that shifts to Pubmatic will generate 50 to 75 million in incremental revenue with the vast majority increasing profitability.

So that's Rajiv's talking to the street.