You have attributed TTD $8.2B, and I am curious about the basis for this figure. They had approximately $9 billion in total spend in 2023, but mentioned that only 40% of this is from North America. Can you please explain the rationale behind the $8.2 billion attribution?
TTD’s 10K 2023 says US revenue is 87% of total revenue. $9.4B x 87% = $8.2B in US
Where would you place Applovin?
They were at $4bn+ in 2024 - so wouldn't fit in the "Other bucket" + there are a few other $1bn+ companies in mobile ads (Unity, Vungle, etc.)
https://investors.applovin.com/news/news-details/2025/AppLovin-Announces-Fourth-Quarter-and-Full-Year-2024-Financial-Results/default.aspx
Also Apple has a solid mobile advertising business $6bn+ in 2024
https://digiday.com/marketing/when-it-comes-to-ads-apple-isnt-playing-coy-anymore/#:~:text=The%20numbers,increase%20on%202025's%20revenue%20achievements).
APP is tricky. It kind of stands on its own as a category.
FWIW, I estimate APP’s gross ad spend to be $7B and $9B depending on days payable, which I use to back into TAC.
TTD had $9.4B global gross ad spend, with 87% in US = $8.2B.
The chart from last year is all US numbers. My recent 2025 analysis shows a global view.
You have attributed TTD $8.2B, and I am curious about the basis for this figure. They had approximately $9 billion in total spend in 2023, but mentioned that only 40% of this is from North America. Can you please explain the rationale behind the $8.2 billion attribution?