And other revenue streams, like The Trade Desk’s data marketplace, aren’t directly challenged by competitors. Data is a marginal piece of overall revenue, Green said, but it’s growing fast and is already the single biggest rev-share generator for multiple data providers listed in The Trade Desk’s marketplace.
The Trade Desk also sees a substantial runway overseas, with international revenue outpacing growth in the US.
China is also a more mature market for OTT inventory, Green said, since subscription services like Netflix and Amazon are priced out in favor of free, ad-supported media.
But OTT and broadcast media is growing fast for The Trade Desk with connected TV spending up 159% year-over-year. That line of business could be The Trade Desk’s bastion against the long-term threat posed by walled gardens.
The streaming TV service Roku, for instance, had a strong first quarter since its IPO, with The Trade Desk as one of its biggest programmatic demand sources, Green said.
And legacy broadcasters represent a huge opportunity to leverage scale beyond walled gardens.
Within some of the largest broadcast media companies, executives “are looking for alternatives to walled gardens as partners on the demand side,” Green said. “Those companies are asking us, ‘Can you be our biggest demand source?’”