Web publishers are dealing with a double dose of pressure on the audience side: Google search is showing users more results that do not drive clicks to publishers, and social platforms are deprioritizing publisher content in their feeds. On the ads side, publishers have to confront advertisers’ growing disinterest in nonvideo display. While that format will grow faster than it has in the previous two years, growth rates will still be slower than they have been for most of the previous two decades.

Key Question: How are web publishers adapting their ad businesses to the pressures they face from Google and the programmatic ad market?

Key Stat: Nonvideo display’s share of total programmatic digital display ad spending has fallen by just over 15 percentage points over the past four years.