Observed Signal · Oct 21, 2026 · Industry Analysis · Source: Digiday · Impact: 3/5 · Sentiment: Negative
Indie agencies demand direct DSP access and fee relief
Independent media agencies are increasingly frustrated with major DSPs like The Trade Desk and Amazon DSP, claiming that despite significant ad spend commitments, they are forced to work through resellers, incurring double fees and lacking negotiating leverage. Agencies report spending thresholds for direct seats that are not being consistently applied, leading to confusion and a sense of a 'toll booth with no exit.' Both The Trade Desk and Amazon deny minimum spend requirements, stating that direct access is available to all, with resellers offered as optional support. However, agencies argue that in practice, direct seats are gated by committed spend levels, making it difficult for smaller independents to achieve cost savings and control. This tension highlights the broader power imbalance in programmatic advertising, where smaller buyers feel squeezed by tech giants and resellers, despite growing competition in the DSP market.
This article highlights a significant friction point in the programmatic ecosystem: the power imbalance between independent agencies and major DSPs. It could lead to shifts in agency buying behavior and increased pressure on DSPs to offer more transparent and equitable fee structures, potentially impacting the broader AdTech landscape.
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Key Takeaways & Evidence Grounding
- A 15-person New York agency spent over $100,000 monthly to meet The Trade Desk's spend threshold but still pays 17% to the DSP and 12% to reseller Mogl.
- Ten media buyers told Digiday that The Trade Desk and Amazon DSP impose double fees via resellers, with unclear paths to direct seats.
- Both Amazon and The Trade Desk deny minimum spend requirements for direct access, with resellers offered as optional support.
- The Trade Desk CEO Jeff Green argues higher costs are justified by performance, in response to industry criticism.
- The DSP market is becoming more competitive, with buyers considering alternatives to major DSPs like DV360.
Connected Companies & Entities
4 Entities mapped“Independent agencies claim The Trade Desk blocks direct seats and fee relief despite spend commitments.”
“Amazon's DSP is also cited for imposing reseller fees on indie agencies.”
“The Trade Desk mentioned Goodway Group as one of its certified resellers.”
“Publicis had a public fallout with The Trade Desk in March over fee transparency.”
Ontology Mapping & Concepts
Related Market Signals & Shifts
Recent verified developments and strategic activity across this market segment.
Trade Desk Still Dominant but Advertisers Shop Around
The Trade Desk remains the largest demand-side platform (DSP) with strong 2025 financials — $2.9 billion revenue, 47% margins and $1.3 billion cash — but advertisers and agencies are increasingly reallocating spend. Interviews with more than ten ad executives describe shifts toward Amazon DSP, retail media networks, direct buys and other DSPs driven by cleaner measurement, integrated retail-video offerings and account/service concerns. The Trade Desk says it is responding with head-to-head testing (claiming better reach and cost versus Amazon in tests), joint business plans (JBPs) and a reorganization into Specialized Business Units. Industry voices note the company has eased gated features and changed commercial behavior, while account instability and competitive multi-year deals from platforms are opening the door for rivals. The piece frames a broader risk of DSP commoditization as API/AI lowers switching costs.
Netflix Launches Pixel; FTC Approves Publicis-LiveRamp Deal
Netflix introduced the Netflix Pixel, an add-on to its conversion API (CAPI) within the Netflix Ads Suite, to standardize lower-funnel conversion measurement and enable audience targeting. The company also added The Trade Desk as a DSP partner for programmatic buying of its inventory, starting next month, complementing existing integrations with Amazon DSP and Yahoo DSP. The announcements coincided with Netflix's Q3 earnings, which showed 12% year-over-year revenue growth but ad revenue growth below expectations. Separately, the FTC approved Publicis's acquisition of LiveRamp with conditions to preserve LiveRamp's neutrality, including firewall requirements and non-retaliation clauses. The acquisition date is still pending. The article also mentions Apple's WebKit plans to block web tracking, Salesforce's acquisition of Braze for $5.7 billion, and other industry news.
Netflix Cuts 2026 Ad Revenue Forecast to $2.7B
Netflix revised its 2026 advertising revenue target down to $2.7 billion from $3 billion due to slower-than-expected rollout of ad products. Despite this, Q3 2026 revenue grew 12% year-over-year to $12.9 billion, with profit up 44% to €3.66 billion. The ads business continues to grow over 80% annually, and the ad-supported tier will expand to 15 more countries in 2027. Co-CEOs Greg Peters and Ted Sarandos highlighted long-term strategic benefits and improved engagement. The company also announced 1,000 job cuts and plans to replicate the TF1 partnership model. Shares fell on reduced ad forecast and slower growth. Netflix expanded ad capabilities, including programmatic targeting via The Trade Desk, and abandoned its Warner Bros. Discovery acquisition.
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