OpenRTB is a standard that was created by the IAB. It was created to create a universal language that all people participating in the auction can communicate in, to make it easier to do business. Auctions are the backbone of algorithmic advertising and ensure that publishers get the highest possible price for their ad space.
OpenRTB has been around since 2010 and is an incredibly useful tool for advertisers and publishers. The main purpose of this protocol is to facilitate the growth of the RTB advertising market through the introduction of open industry standards. These standards aim to improve and facilitate communication and interaction between buyers and sellers of advertisements and products in the marketplace.
Since its inception, OpenRTB has changed a lot and continues to change. Everything is done to meet the ever-growing demand in the market. This is why security and transparency are constantly increasing.
The functions of the OpenRTB protocol include:
- quick access to ad space
- big income from inventory
- data monetization opportunities and much more.
That also includes many benefits. Advertising buyers and sellers can save huge amounts of money on maintenance costs, shorten the time to market, and change the platform at any time without any overhead integration costs.