Last year, X began selling ads programmatically through third-party adtech partners for the first-time to boost ad revenue. First came InMobi, then Google Ad Manager, and most recently, PubMatic, which now offers X inventory to third-party demand. (PubMatic may also prove valuable as X continues to develop its CTV app.)
For reference, here’s a snapshot of X’s ads.txt file:
As more platforms gain access to X inventory, NBCUniversal’s Trey Titone, VP of Product Management, spotted some updates via Reddit in a thread by Mike Hauptman of AdLib. Mike posed the question: “Can ads on X be purchased programmatically through any DSPs? If so, which ones? Display or native?”
Redditors responded, noting that DSPs like StackAdapt and Basis currently have access to X inventory, with more platforms expected to join as partners like PubMatic expand pathways. Currently, X/Twitter inventory available through DSPs includes native formats, including in-feed and video ads. (We have not confirmed this with X or these DSPs and are simply surfacing what is publicly available via this Reddit thread.)
Interestingly, Trey highlights that, per Redditors, X’s programmatic native inventory is priced at an average CPM of just $0.39. “For comparison,” he notes, “Meta’s average CPM ranges from $6 to $8. X is literally selling for pennies on the dollar.” Of course, these are different platforms with Meta having more advanced targeting and measurement, plus more scale.
Why This Matters:
As an adtech business, X could be well-positioned for 2025 despite seeing large advertisers exit over offensive content. Following the election, which X owner Elon Musk was… fairly involved in, we speculated that advertisers might return in the coming months. About a week later, reports from Adweek (per MediaRadar data) and The Financial Times confirmed this, providing a potential tailwind for X.
Expanding its inventory to third-party demand via programmatic platforms will also benefit the company. According to EMARKETER, U.S. programmatic ad spend is projected to grow 16% year-over-year in 2024, three times faster than non-programmatic. Opening programmatic access will make it easier for advertisers to include X in their broader programmatic campaigns.
Experts React:
See Trey’s full tweet and the replies (there will be more) here:
Our Take:
It has been a tough few years for X from an advertising perspective. However, between the election, fewer concerns about content moderation from brands, and the expansion of inventory across programmatic platforms, that seems to be shifting. Elon, thanks to Linda Yaccarino as well, of course, is set up for a much better 2025. Don’t expect them to be a punching bag.
