Real-time bidding (RTB advertising) refers to the means by which ad inventory is bought and sold on a per-impression basis, via programmatic instantaneous auction, similar to financial markets.With RTB, advertising buyers bid on an impression and, if the bid is won, the buyer’s ad is instantly displayed on the publisher’s site. RTB lets advertisers manage and optimize ads from multiple ad-networks by granting the user access to a multitude of different networks, allowing them to create and launch advertising campaigns, prioritize networks and allocate backfill percentages.

Kevin Reynolds distinguishes RTB as a dynamic bidding process where each impression is bid for in (near) real time, against a static auction where the impressions are typically bundled in groups of 1,000.

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