Industry Notes
March 16, 2025
One of the bear arguments that emerged after TTD missed Q4 was the impact of AMZN’s DSP. While the argument looks convincing at first glance, we believe it’s not so strong if one looks closer…
December 16, 2024
We are updating our market estimates for connected TV advertising spend for 2024 and 2025. We believe that despite a strong political cycle setting up a somewhat more difficult comp, we should see strong growth…
May 19, 2024
In this note we analyze the implications of the recently announced partnership between ROKU and TTD for the two stocks. We show that this development strengthens the case for an acceleration in ROKU Platform revenue…
April 13, 2024
We saw a number of important developments in connected TV in Q1 including the launch of Prime Video ad-supported tier, DIS announcement of a direct, i.e. bypassing SSPs integration with DSPs and WMT’s acquisition of…
January 8, 2024
With the strikes in Hollywood over, M&E may prove to be a driver of variance versus expectations in FY24. Both, bulls and bears have been wrong about the trajectory of this volatile revenue stream in…
March 14, 2023
As macro headwinds built throughout last year programmatic connected TV growth rates remained constant in Q3 and Q4 while pressure on the rest of the connected TV advertising spending kept increasing. As a result, connected…