Yesterday, Adweek reported that the “world’s largest holding companies are pulling back from one of The Trade Desk’s most closely-watched, and arguably important, initiative: OpenPath.” According to the report, WPP and Dentsu had “quietly exited” OpenPath, the company’s direct supply path offering, over concerns about “hidden fees and transparency.”
Another notable detail: one WPP executive, according to Adweek, said OpenPath “overlaps with agency services,” such as curation and SPO (we think?).
Why This Matters:
This is complicated.
To be fair to TTD, OpenPath is likely a more efficient way of buying than the open exchange. Should that come with added cost? The theory is that better quality media and fewer intermediaries mean more spend goes to the right places. If that’s true, performance should improve.
The transparency issue, however, is a real pain point — if the concerns are accurate. This isn’t just about fee transparency, per the report. It also touches on “where exactly… ads are running.”
TTD has positioned itself as a quality, accountable player in the ecosystem. The product is called “OpenPath,” after all. If customers feel it operates like a black box, that’s a problem, and one TTD will need to address.
Experts React:
The internet had a bit of a field day with this one, as just about every adtech pundit weighed in. Here are some of our favorite takes.
Not to be outdone, TTD’s CMO also pushed back on the report in a LinkedIn post. He says OpenPath is offered “at cost” and that there are “no hidden fees beyond that.”
Our Take:
“Open” is a powerful word. It implies transparency. When something branded as open feels opaque, criticism is inevitable. That’s the tradeoff when you set that standard across products, whether it’s OpenPath or OpenAds.
This also caps a rocky few months for TTD, following the recent CFO shakeup. Earnings are next week. A strong report could quiet some of this chatter, if not eliminate it altogether. If not, 2026 could prove challenging. Because, in this market, pressure tends to compound.
