The mistake: judging a network on programmatic alone

The mistake: judging a network on programmatic alone

Steelman: you compared two networks' open-auction RPM head to head. Clean test, right?

The asterisk: a chunk of Raptive's and Mediavine's value is direct-sold and private-marketplace deals their sales teams land — inventory you can't see in the auction layer. That premium doesn't show up in a programmatic-only comparison.

🚩 Hidden variable: the direct/PMP revenue share, which varies hugely by network and by how attractive your category is to their sales team.

The fix: ask each network for their blended figure including direct deals, and what % of your revenue comes from them. The auction is only part of the engine.

Not saying programmatic doesn't matter — saying comparing half of each network is rigged.