Observed Signal · Jun 8, 2026 · Opinion · Source: AdExchanger · Impact: 3/5 · Sentiment: Negative
Dynamic Take Rates: Market-Wide Squeeze, Not Innovation
Opinion by Rotem Shaul (Co-CEO, Primis) argues that dynamic take rates — variable exchange commissions that charge larger cuts on high bids and smaller cuts on low bids — are being presented as product innovation but effectively redistribute existing revenue and erode value across the ad ecosystem. The piece notes Google’s use of an “Average Revenue Share” approach and points to Index Exchange’s published model as examples accelerating adoption. While exchanges report higher win rates and volume, Shaul contends the extra wins are often financed by premium advertisers’ high bids and substitute revenue that publishers would otherwise have earned from other buyers. The author urges transparency about per-bid commission behavior and recommends that holding companies, agencies and DSPs (who pay the high-end checks) drive corrective incentives before dynamic take rates become universal.
Changes in exchange commission mechanics affect revenue flows across publishers, DSPs and advertisers; widespread adoption would alter supply-path economics and requires transparency from exchanges to inform buying/selling decisions.
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Key Takeaways & Evidence Grounding
- Article published June 8, 2026, authored by Rotem Shaul, Co-CEO of Primis.
- Google has used a variable commission approach under an “Average Revenue Share” banner.
- Index Exchange published its own dynamic take-rate model (referenced with a 2025/10/23 model announcement).
- Dynamic take rates charge larger commission on high bids and smaller on low bids, keeping a similar blended average while increasing exchange win rates and reported volume.
- The article claims premium advertisers (high bids) effectively finance subsidies that crowd out low-CPM demand and reduce net publisher revenue in aggregate.
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2 Entities mappedOntology Mapping & Concepts
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