‘Amazon is not a competitor, and Google…': CEO of digital ad company that suffered its worst wealth decline
The shares of digital ad company
The Trade Desk
have recently suffered a record-breaking decline. Despite that,
Jeff Green
, the CEO of the company, has claimed that
"
Amazon
is not a competitor, and Google really isn't much of a competitor anymore either.'
However, analysts have cited competition from Amazon as a key factor for The Trade Desk after the company's share prices went down nearly 40% last week. According to a report by Business Insider, Green made his remarks during the company's latest earnings call while responding to the analyst's concerns, which largely attributed the company's stock drop to Amazon. He argued that The Trade Desk plays a crucial role as a neutral seller of advertising, unlike Amazon, which sells its own ads on platforms like Prime Video. He also suggested that Amazon may one day allow companies like his to sell ads on Prime Video.
'We're trying to buy the open internet, leveraging technology that values media objectively. We don't have any media. And we don't grade our own homework,'
Green added.
It's important to note that The Trade Desk, which helps companies target ads across the web, had beaten earnings expectations. However, analysts also pointed to the departure of the adtech company's CFO as a contributing factor to the stock's performance.
As per the report, analysts are split on The Trade Desk CEO Green's positive outlook amid fierce competition in the connected TV ad market from Amazon, Netflix, and Disney+. Amazon's rapid ad growth, which is fueled by a Roku deal and NBA content, poses a significant threat, with some calling Green 'in denial' and downgrading the stock.
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Meanwhile, others remained positive, noting The Trade Desk's expanding partnerships with Netflix, Roku, and Spotify, along with growth in retail media and global markets.
How Amazon's ad power is growing despite connected TV market facing slower growth
To compare, Amazon's ad business has surged since making ads the default on Prime Video. The company has been using its vast scale, shopping-based targeting, and growing live sports content. Its rise is squeezing all but the top TV players, with Morgan Stanley projecting it could overtake YouTube as the US smart TV ad leader by 2027.
Amazon's Q2 ad revenue jumped 22% to $15.7 billion, exceeding expectations, and it's major deals with rival streamers to boost its dominance. However, slowing connected TV ad growth and intensifying competition from Amazon and Google are raising concerns for rivals like The Trade Desk.
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