Glossary/Programmatic/Ad exchange
What is an ad exchange and how does it work?
How an ad exchange works, how it relates to SSPs and ad networks, and what publishers should know.
Written by Samhub with the help of AI·Updated 13 Oct 2026·3 min readAn ad exchange is a digital marketplace where publishers’ ad impressions are sold to advertisers in real-time auctions.
How an ad exchange works
Supply comes in
From publishers, usually through SSPs.
Demand bids
DSPs bid for each impression.
The auction runs
The highest bid wins, in milliseconds.
Exchange, SSP and ad network
| Role | |
|---|---|
| Ad exchange | The marketplace where the auction happens |
| SSP | The publisher’s tool to sell and manage inventory, often with its own exchange |
| Ad network | Buys inventory and resells it in packages |
16 pages for publishers, with a checklist for data, programmatic and direct sales.
Stand out in the exchange
In an exchange, buyers see many similar impressions. Audience signals and data deals give buyers a reason to bid higher for yours.
CPM uplift at Stampen Media after activating first-party audiences with Samhub.
Frequently asked questions
They overlap. Most SSPs today run their own exchange.
Publishers sell through them; advertisers buy through DSPs.
Google’s ad exchange, now part of Google Ad Manager.
More than in ad networks, though fees along the chain vary.
Related terms
The software publishers use to sell impressions.
Buys inventory from many sites and resells it.
An auction for every single impression.
Google’s ad server and exchange for publishers.
Shows who the sellers in the chain are.
Samhub audiences let you set higher floors and win more data deals, in every channel you sell.
- A walkthrough with your own data
- Built for publishers and media houses
- 30 minutes, no commitment
Turn your audience data into more revenue
Get the Media Monetization Playbook: how media houses turn first-party data into higher CPMs, data deals and direct sales. With checklists for every step.
