Programmatic ad buying is the algorithmic purchase and sale of advertising space in real-time, usually for digital ads but it can also be done for some TV ads.
The ad space sellers use a supply-side platform (SSP) to set the volume, time, place and targeting capabilities of their inventory and at what price they are willing to sell it.
The ad space buyers use a demand-side platform (DSP) to similarly set the volume, time, place and targeting capabilities of the ad space they want to buy and at what price. The two platforms communicate with each other and when there is a match an ad is bought, sold and displayed in milliseconds.
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