The advent of trading exchanges has been viewed as a negative by most major publishers in Australia, or as a necessary evil perhaps! They appear to be panicking that they will have to sell their inventory dirt cheap!
Publishers don’t have to sell cheaply but their perspctive is most probably coloured by the prices the ad networks currently pay them. It would appear to be a great opportunity to cut the ad networks out of the loop and instead reap the benefits of RTB and data to take those profits themselves. The market may put some pressure on the less valuable inventory but surely it will be better than the arbitrage model?
The beauty of the model is that operated properly both buyers and sellers should see a more efficient and value driven model emerge that is good for both sides of the equation.