Glossary
What is Private marketplace (PMP)?
Also called: PMP, private auction
A private marketplace (PMP) is an invite-only auction where selected buyers bid on a publisher's inventory, usually above a higher floor.
हिंदी में पढ़ेंA private marketplace works like the open auction, but only invited buyers can take part. The publisher chooses the buyers and sets a floor, often higher than in the open auction, and those buyers bid at or above it. No price negotiation is needed, and no volume is promised.
The term is used in two ways. Much of the industry says PMP to mean the private auction alone. Google Ad Manager calls these Private Auctions, and uses Private Marketplace (PMP) deals for all non-guaranteed deals, covering both private auctions and preferred deals. Check which meaning a partner has in mind.
In the OpenRTB bid request, a PMP shows up as a pmp object listing the deals, each with a deal ID, a floor and the allowed buyer seats. When a private auction underdelivers, Ad Manager’s troubleshooting splits requests into buyer did not bid, buyer bid via other sources, and bids for this deal.
Example
An open auction slot has a $1.00 floor. A PMP on the same slot invites five buyers at a $3.00 floor. A $3.40 bid wins and pays $3.40 in a first-price auction; a $2.80 bid is rejected.
Why it matters to publishers
PMPs let you offer premium audiences or placements to trusted buyers at higher floors, while keeping the flexibility of an auction.