OpenRTB is a platform and protocol for Real Time Bidding () in the process of digital online advertising. Real-time bidding is a method of transacting media that makes it possible for a single ad impression to go up for bid in real-time. This is done through a sort of auction that is programmatic, not dissimilar to how financial markets work. RTB makes it possible to engage in addressable advertising, or the ability to get ads to consumers and potential customers directly based on a number of factors, such as demographics, behaviors, buying habits, etc.
OpenRTB has been around since 2010 and is an incredibly useful tool for advertisers and publishers. The protocol’s main purpose is to promote growth in the RTB advertising marketplace by facilitating open industry standards. These industry standards focus on improving communication between the buyers and sellers of advertising and inventory in the marketplace. As an open-source protocol, OpenRTB was developed in conjunction with a large group of supply-side and demand-side platforms.
OpenRTB has seen a number of updates and improvements since its creation. To match the market’s ever-growing demand for increased security and transparency, OpenRTB has improved its protocols to be more trustworthy in the programmatic advertising sector.
Programmatic advertising has become a major leader in digital advertising in the United States and around the world. Because of this, RTB-ready platforms use the OpenRTB protocol for added efficiency and additional features. Such features include speedy access to ad space, a larger yield on inventory, data monetization possibilities, just to name a few. These features have a large volume of benefits, as well. Ad buyers and sellers can save on maintenance costs, reduce time to market, and switch platforms without any hefty upfront costs for integrations. Brands, agencies, and AdTech and MarTech vendors can all benefit from OpenRTB solutions.