Programmatic advertising is an automated, technology- driven method of buying digital display ad placements. Definitions:

• Real-time bidding (RTB): Auction-based approach used to buy or sell impression- level inventory. Auctions can be either open exchange or private marketplace:
• Open exchange: Public RTB auctions open to all buyers and sellers; also called open auction, open exchange or open marketplace.
• Private marketplace (PMP): Auction owned by a single publisher or a small group of publishers and open only to an invite-select group of buyers; also called a private exchange or private auction. These are typically executed via normal RTB technology and may include a deal ID—a tag that notifies the auction that a specific buyer has some sort of preferential treatment, whether in price or priority.
• Programmatic direct: Non-auction-based approach to buying or selling ad inventory, not at the impression level. Programmatic direct deals can be orchestrated via pre- existing RTB technology, through publisher-owned APIs such as on social sites, or via self-service user interface or deal discovery tools. Programmatic direct deals specify a fixed price and may or may not guarantee fixed inventory amounts.

Programmatic ad spending’s 2019 growth will be 22.6%.