The Trade Desk achieved record sales for the quarter in the third quarter. This is due to the continued adoption of data-driven advertising triggered by the novel coronavirus pandemic.
The demand-side platform achieved revenue of $ 216 million, up 32% from Q3 2019. That increase includes 100% growth in connected television, a medium that has seen an increase in usage as people during Stayed at home during the pandemic and stream content.
CEO Jeff Green said during the earnings call that the company gained more market share in the first three quarters of 2020 than at any other point in the company’s history.
“As advertisers come under pressure to demonstrate the ROI of their campaigns, take advantage of the mass consumer shift to streaming TV, and consider alternatives to user-generated content, our investments in these areas are paying off,” Green said in a statement. “Whether we focus on metrics, CTV inventory or the future of identity, advertisers can count on us as the most innovative and comprehensive platform on the demand side in the industry.”
Other ad tech companies also posted record highs as programmatic spending returns to pre-lockdown levels as marketers value the channel for the flexibility and efficiency it offers while facing uncertainty during the pandemic.
“Almost every marketer and big brand is being asked to do more with less,” Green said during the earnings call. “And that means advertisers need to focus on measurable and comparable advertising opportunities where the ROI of the business can be understood and demonstrated
The Trade Desk has also endorsed Unified ID 2.0, its identity offering to support targeted advertising when third-party cookies disappear. Recently, Criteo, Nielsen and LiveRamp became partners in the initiative.
Green said he “firmly believes” that Unified ID 2.0 will achieve critical mass and adoption within the next year.
The company originally forecast third-quarter revenues between $ 177 million and $ 181 million. Fourth quarter revenue is projected to be between $ 287 million and $ 291 million, assuming no pandemic-related economic setbacks.
The Trade Desk will also update its platform significantly over the next year. Green, dubbed Solimar, said the update will include a better user interface that brings customers’ buying and planning tools together. and easier onboarding and delivery of first-party data.