The Big Story (AdExchanger)

Will The Trade Desk Right-Size Its Margins?

The episode dissects the Trade Desk’s ongoing tension over its OpenPath platform, agency relationships, and high margin model, especially in light of recent earnings and competition from Amazon DSP. Guest Sarah Caputo argues that the Trade Desk’s effective take rate of around 20% is unfair, citing hidden fees, lack of transparency, and the impact on advertisers’ ROI. Panelists discuss the trade‑off between the platform’s premium service and its cost structure, and whether the industry should demand lower, more transparent margins. The conversation also highlights how agencies and brands are grappling with undisclosed add‑on fees that can erode campaign performance and credibility.