The Adnami Blog

It’s a good day to be a publisher

Written by Thomas From | October 14, 2025

The day-to-day of being a publisher can be tough. Budgets are tight, the competition is fierce, and the industry keeps reinventing itself. But despite all that, it is a good day to be a publisher.
Let’s unpack why and take a closer look at how the open internet can challenge the dominance of Meta and other walled gardens.

The winds are changing

At a macro level, publishers have a tailwind. Advertisers no longer want to depend on one or two giant platforms. Relying on a single ecosystem makes them vulnerable to pricing, to stickiness, to performance swings, and to data security concerns. Diversification has become not only a smart strategy but a necessity.

And beyond business logic, there’s a growing societal awareness that social media is not good for us.

At the same time, disinformation has exploded. There are now more fake news sites than real ones, and 81 countries actively engage in disinformation campaigns, up from just 27 only three years earlier. Facebook alone drives 30% of all fake-news-related traffic, despite representing just 8% of total traffic.

It’s clear: both individuals and institutions are beginning to limit the role of social media. And that shift opens a door for publishers.

Signs of strength

Some publishers are already thriving. The New York Times recently reported 18% growth in digital advertising revenue, outpacing even subscription growth. That’s significant.

However, it’s also true that the biggest players like the NYT and WSJ operate in a different universe. They have scale, brand power, and over 10 million digital subscribers. Many smaller publishers still face serious headwinds, especially as agencies - traditionally their biggest customers - are struggling.

So yes, publishing remains a challenging business. But it’s also an evolving one, and the current shifts in advertiser demand, regulation, and technology point toward new opportunities.

The Meta matchup

To understand where those opportunities lie, let’s look at how the open internet (you as publishers) stacks up against Meta across five key dimensions of a strong advertising product:

  1. Reach
  2. Targeting
  3. Creative
  4. Measurement
  5. Activation

Let's have a look at how each of the dimensions scores and who's the final winner.

1. Reach

Meta claims a reach of four billion users globally. Google Ads, our best proxy for open internet reach, claims around three billion. The truth is that there’s plenty of reach in both ecosystems.

Score: It’s a draw

2. Targeting

Meta still dominates when it comes to targeting capabilities. Its ability to profile users - even those not on its platforms - is unmatched, while the open internet still largely depends on third-party cookies.

Score: Meta wins

3. Creative

Here’s where publishers shine. When we move beyond standard banners, the open internet offers far greater creative freedom and impact. High impact formats offer ample space for creativity and interactive elements. With templated solutions, they are easy to execute.

In a study from Annalect and ConceptX, high impact banners on the open internet outperformed Meta across the mid and top funnel in terms of RROI. Not because of better targeting, but because of better creative experiences.

Score: Publishers win (2–2)

4. Measurement

Meta provides plenty of numbers - but not necessarily meaningful ones.

In one study, Meta attributed over 100% more conversions than what independent models could verify. Another Adnami study comparing identical video campaigns showed that while Meta looked cheaper on CPMs, it was 15x more expensive if you wanted users to watch the full video.

Meta’s opacity around measurement inflates perceived performance. The open internet, by contrast, allows for third-party verification, attention tracking, and transparency.

Score: Publishers win


5. Activation

This is where Meta’s simplicity wins the day. For a small business, it’s easy to set up, target, and activate a campaign on Meta. On the open internet, however, barriers to entry can be high, from DSP access to deal negotiations.

Score: Meta wins

So, what’s missing?

The open internet needs two key improvements to regain pricing power:

  1. Better targeting capabilities
  2. Easier activation

Without those, publishers risk leaving money on the table.

Could AI be the answer?

Absolutely. AI can make the open internet as accessible and efficient as the walled gardens - and perhaps even more transparent and creative.

  • AI-powered agents can help advertisers find and optimise inventory at scale.
  • Creative AI tools can generate and adapt high impact ad formats.
  • Analytics agents can analyse campaign performance in real time.

At Adnami, we’re already investing heavily in this space, building AI-driven solutions that make creative development, optimisation, and measurement smarter and more seamless.

But AI needs good data. That’s where the importance of consent-or-pay models comes in. These models empower publishers to collect quality data ethically, while maintaining transparency with users.

Around 70% of consumers understand and accept that data exchange is necessary to support quality journalism and free content. That’s not just encouraging, it’s an opportunity for publishers to rebuild the value chain around trust, transparency, and relevance.

The future is bright

So yes - it is a good day to be a publisher.

Because while the daily grind is hard, the broader forces are moving in your favour. Advertisers are diversifying. Users are waking up. Technology is opening new doors.

If publishers can harness AI, embrace data-driven consent, and continue to invest in creative excellence, the open internet will not just compete with Meta - it will win where it matters most: in trust, transparency, and true value creation.