Native and display are the same auction wearing different hats

Native and display are the same auction wearing different hats

Everyone says native is a fundamentally different, higher-intent channel than display.

The data says they clear through the same exchanges, the same SSPs, often the same publishers — native just renders the creative inside the content template instead of a banner frame. The "intent" you're paying a premium for is a CSS decision.

Proof: run identical audience and conversion goals across a native DSP and a programmatic display line for two weeks. Strip vanity CTR and compare cost-per-action. Native's CPA routinely lands higher because you paid the format tax for a click that converts no better.

Different hat. Same head. Why are you paying double for the hat?