"Netflix on Wednesday said it had entered a partnership with Amazon to let advertisers use the Amazon DSP to buy ads on Netflix starting in the fourth quarter. The Amazon DSP, or demand-side platform, is a self-service software that lets advertisers plan and buy ads across Amazon's properties and other apps and websites. The Amazon DSP is a direct competitor to The Trade Desk, a pure-play public adtech company."
"On Wednesday, analysts at Morgan Stanley downgraded The Trade Desk's stock to equal-weight from overweight and pared down their price target for the stock to $50 from $80. In a note to clients, Morgan Stanley's analysts cited "lingering execution concerns, softness in the open web ad market , and intensifying competition in CTV," noting the recent growth of Amazon DSP specifically. The Trade Desk's shares were trading down over 10% on Wednesday. The stock is down over 60% year to date."
Netflix has partnered with Amazon to allow advertisers to buy ads on Netflix via the Amazon DSP beginning in the fourth quarter. The Amazon DSP is a demand-side platform that enables advertisers to plan and purchase ads across Amazon properties and other apps and websites. Amazon's DSP directly competes with The Trade Desk and has secured media partnerships with Roku and Disney to expand its connected-TV reach. Morgan Stanley downgraded The Trade Desk and cut its price target amid execution concerns, soft open-web ad demand, and intensifying CTV competition. The Trade Desk's shares fell sharply and are down over 60% year to date.
Read at Business Insider
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