How publishers can respond to tougher ad tech expectations

Key takeaways

• Big Tech is expected to account for about 58% of US advertising this year, increasing pressure on independent ad tech.
• Digital advertising remains forecast to grow by 12.2% in 2026, but that growth will not reach every part of the open internet equally.
• The Trade Desk reported quarterly revenue of $715.1 million USD, up 3%, showing how investors now judge growth against much higher expectations.
• AppLovin grew revenue by 53% to $1.92 billion USD, yet its share price fell, highlighting the market’s focus on future performance.
• Publishers should place greater emphasis on transparent measurement, first-party audiences and clear commercial outcomes.

Digital advertising is still expanding, but the latest ad tech results show that growth alone no longer guarantees investor confidence. A new assessment of the sector has put independent ad tech companies under closer scrutiny, while the largest technology platforms continue to capture a growing share of advertising budgets.

The figures offer an important lesson for publishers. Advertising demand can rise while the open internet receives a smaller proportion of the value created. That makes audience data, trusted environments and measurable performance increasingly important parts of a publisher’s commercial strategy.

This article examines what the latest figures mean for ad operations and publishing businesses, and considers how a stronger publishing platform can help teams respond to changing market expectations.

Why ad tech growth is becoming harder to convert into value

Market expansion does not benefit every participant

Digital advertising is forecast to grow strongly in 2026, with a 12.2% increase in the United States according to estimates cited by Digiday. Programmatic advertising is also expected to rise by 3.9%. However, the broader open internet, including independent publishers, open connected television, digital audio and digital out of home, is forecast to decline by 1.4%.

That contrast explains why many ad tech companies are facing a more demanding market. A publisher may see more advertising activity across the industry but still struggle to increase yield if budgets move towards platforms that combine audience scale, identity signals and automated campaign optimisation.

For media companies, this is not simply a question of advertising volume. It is a question of where value is created, who can measure it and how clearly that value can be demonstrated to buyers.

Scale is shaping the commercial conversation

Estimates cited in the assessment suggest that Amazon, Google and Meta accounted for roughly 56% of United States advertising last year. Their share is expected to reach about 58% this year. The largest platforms can use extensive data resources and campaign feedback to improve automated buying, while independent providers must compete for a smaller relative share of a growing market.

Publishers therefore need to make their own contribution visible. High quality journalism, specialist audiences and trusted editorial environments remain valuable, but commercial teams must connect those strengths to reliable reporting and consistent campaign outcomes.

For a practical approach to organising editorial, commercial and production activity, publishers can review the Publishrs publishing platform.

What The Trade Desk and AppLovin reveal about investor expectations

Revenue is being judged against the next stage of growth

The Trade Desk reported second quarter revenue of $715.1 million USD, an increase of 3%. Its guidance for the following quarter implied a year on year contraction, and the company’s shares fell by roughly 22% after the announcement. The result shows how quickly expectations can change when a business has built its reputation on taking share in a growing market.

The company has pointed to measurement and transparency as ways to compete with walled garden platforms. That emphasis matters to publishers because independent media needs reporting that allows advertisers to understand both the quality of an audience and the outcome of a campaign.

AppLovin presents a different example. Its second quarter revenue increased by 53% to $1.92 billion USD, yet its shares fell by 19.7%. Investors were assessing whether the company’s artificial intelligence platform could continue delivering the exceptional improvements that had become expected.

Clear reporting can protect publisher value

The lesson for publishers is practical. A sales narrative based only on traffic, impressions or audience size may not be enough. Buyers increasingly want evidence of attention, relevance, conversion and brand suitability, presented in a way that can be compared with other channels.

That requires joined up reporting across the editorial workflow and ad operations. A publishing platform can help teams connect content, audience development and campaign information, giving commercial leaders a more complete view of performance without forcing every department to work from separate spreadsheets.

• Define the audience segment before a campaign begins.
• Agree which business outcome the campaign should support.
• Report delivery, engagement and conversion measures together.
• Record the learning so future campaigns can improve.

Why independent publishers still have room to grow

Trust and context remain commercial assets

The pressure on independent ad tech does not remove the value of independent publishing. It makes that value more important to explain. Specialist publishers can offer context, professional audiences and a relationship with readers that broad platforms may not reproduce.

Advertisers also face growing pressure to demonstrate responsible media investment. A well governed editorial environment, clear commercial labelling and dependable audience information can help publishers make a stronger case for direct and programmatic partnerships.

Industry bodies such as WAN-IFRA and the Reuters Institute continue to document changes in audience behaviour, trust and digital publishing. Their work reinforces the need for publishers to treat audience relationships as a long term business asset rather than a short term traffic source.

First party data needs editorial discipline

First party data can improve audience development, but only when publishers collect and use it responsibly. Clear consent, useful registration experiences and relevant newsletters can give readers a reason to share information. In return, publishers gain a better understanding of interests, frequency and subscription intent.

This process works best when editorial and commercial teams agree boundaries at the outset. Readers should understand why information is requested, while advertisers should receive meaningful audience insight rather than vague claims about reach.

Publishrs can support that work by giving publishers a central place to manage content production, audience initiatives and commercial planning. More information is available through its media innovation resources and publishing technology guidance.

How publishing teams can respond to the new ad tech reality

Build a clearer link between content and revenue

Publishers should start by mapping how an idea moves from commissioning to publication, promotion and commercial reporting. This reveals where teams lose time, where data becomes inconsistent and which decisions depend on manual work.

A clearer production cycle can improve both editorial efficiency and commercial confidence. When teams can see the status of work, the intended audience and the associated commercial objective, they can make better choices about distribution and promotion.

Industry reporting from Digiday and Press Gazette shows why publishers are continuing to test new revenue models alongside advertising. Subscriptions, events, commerce, memberships and sponsored content can all contribute when they fit the audience and editorial proposition.

Use technology to support judgement, not replace it

Automation can remove repetitive administration, but it should not remove editorial judgement. Teams still need to decide which subjects matter, which audiences deserve attention and whether a commercial partnership fits the publication’s standards.

The strongest approach combines practical workflow management with human oversight. It gives editors and commercial leaders reliable information while preserving the decisions that define a publication’s identity.

• Audit the current production cycle and identify repeated manual tasks.
• Create shared definitions for audience, engagement and campaign success.
• Review advertising performance alongside subscription and membership data.
• Use quarterly reporting to refine products, formats and commercial packages.

As expectations rise, publishers that can explain their audience value clearly will be better placed to build durable partnerships. The market may be concentrating, but well organised specialist media businesses still have room to create distinctive value.

Frequently asked questions

Building a stronger publishing operation

The latest ad tech figures point to a market where scale, measurement and future expectations are shaping investment decisions. Publishers cannot control the share captured by the largest platforms, but they can control how clearly they present their own audience value.

A more connected editorial workflow, responsible first party data and a wider revenue mix can give media businesses a stronger foundation. Publishers looking to bring those activities together can explore the Publishrs platform and its practical approach to digital publishing.

This article provides general information about publishing industry trends and best practices. For specific advice about implementing new systems or processes at your publication, we recommend consulting with your technical and editorial teams.