The Programmatic Supply Chain in 2026: Where the Money Actually Goes

A deep-dive analysis of how programmatic advertising dollars flow through the supply chain, examining the economics of DSPs, SSPs, and data intermediaries. The piece quantifies how much of each advertiser dollar reaches publishers versus intermediaries, and argues that consolidation is reshaping fee structures in ways that benefit scaled platforms.

A deep-dive analysis of how programmatic advertising dollars flow through the supply chain, examining the economics of DSPs, SSPs, and data intermediaries. The piece quantifies how much of each advertiser dollar reaches publishers versus intermediaries, and argues that consolidation is reshaping fee structures in ways that benefit scaled platforms.