Axios has confirmed the rumor: The Trade Desk (TTD) is officially launching its much-anticipated smart TV operating system (OS), accidentally leaked yesterday by the DSP’s media outlet, The Current. The new OS, named Ventura after TTD’s headquarters, is still under development, with plans for rollout in the second half of 2025.
In an Axios interview, CEO Jeff Green took aim at major streaming players like Roku, Amazon, and Google, accusing them of conflicts of interest due to their ownership of ad-supported content.
“We’re looking at a concentration around a handful of players that lack objectivity,” Green said. “We think we’re in a unique position to make the ecosystem better.”
While TTD hasn’t named any formal partners yet—despite positive quotes from Sonos and Paramount—the company clarified it won’t enter the hardware market. Instead, Ventura will integrate with hardware companies’ platforms, with Sonos seen as a potential partner.
Our guess: Expect further announcements, possibly including actual partners (?), at CES 2025.
Why This Matters:
Green’s comments about objectivity and conflicts of interest seem directly targeted at Google, which is currently embroiled in two antitrust lawsuits over its adtech business. Notably, Google owns YouTube, the world’s leading CTV platform. TTD has been vocal about how Google’s regulatory challenges create opportunities for their own business, especially as TTD deepens its focus on CTV.
Roku’s reaction will also be worth watching. Historically, TTD has maintained a strong relationship with Roku, leveraging it to build its CTV presence. However, that dynamic is likely to shift with Ventura.
Experts React:
On TTD’s most recent earnings call, Green said:
“I have never been more excited about the value of the premium content at scale on the open internet, combined with new approaches to performance efficacy, especially in contrast to the murkiness of cheap reach dynamics within walled gardens such as Google.”
Clearly, this was foreshadowing.
Mike Caprio, GM of Global Advertising at JW Connatix, offered this take via tweet:
“I think this is less about @TheTradeDesk competing in a 🔪 fight for OEMs’ consumer TV OS share and more about unlocking new retail media opportunities (transport, hotel, in-store), which is simply a vehicle for selling ads and unifying 1PD.”
Our Take:
This is primarily a B2B play, but the success of Ventura will also depend on the consumer experience. An OS isn’t worth anything if no one likes the interface.
Ventura is a big bet and addresses one of TTD’s longstanding weaknesses—access to consumer first-party data. Green’s pitch is that you don’t need to own content to gain that data. But is there really a meaningful difference between owning content and owning the operating system? Time will tell.
