Programmatic advertising: Key terms and acronyms explained

There are various programmatic models, here are four of the most common:

  1. Preferred deal: A non-auction model with a fixed CPM and non-guaranteed inventory.
  2. Programmatic guaranteed/direct: A non-auction model with a fixed CPM and guaranteed inventory.
  3. Private marketplace/exchange: An auction model that uses real-time bidding and price floors. It is open to an invitation-only group of buyers.
  4. Open exchange buy: An auction model based on real-time bidding and variable CPM. It is open to any buyer.

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