Grigoriy MisilyukIn this article, PMP refers specifically to private auctions. A private auction is an auction with restricted access. Only selected buyers participate. Pricing is dynamic.
A private auction is the middle ground between open auction and programmatic direct. The open auction is open to all. Programmatic direct removes the auction altogether, using fixed pricing instead — whether through guaranteed volume or preferred access.
PMP setup requires SSP and DSP support for OpenRTB deal IDs, deal management on the SSP, and deal ID targeting on the DSP.
Curated deals are typically implemented through PMP infrastructure. They use the same deal IDs and auction mechanics as standard PMP. The difference: before inventory is packaged into a deal, it's curated based on specific criteria — audience segments, contextual signals, secure identifiers, inventory characteristics, first-party data, or a combination of them — depending on publisher and buyer goals.
Publishers typically gain more control — deciding who can bid and setting floor prices for their inventory. Advertisers access selected inventory under controlled conditions — this can reduce brand-safety risk. However, outcomes depend on inventory quality, buyer selection, floor calibration, and setup.
Common challenges when running PMPs at scale include low match or fill rates, unrealistic floor prices, deal ID or buyer-seat configuration errors, overly narrow DSP targeting, creative eligibility issues, and the operational overhead of managing multiple deals.
Private marketplace (PMP) is an invite-only programmatic auction. The winning price for inventory in PMP is determined dynamically, just like in an open exchange. The difference is that access to auctions is limited to a closed group of buyers. The seller configures which buyer accounts, or seats, are eligible to participate in the deal. The system (SSP, ad exchange, marketplace, or other seller-side deal-management layer) generates and assigns a deal ID and includes it in the OpenRTB bid request so the selected DSPs can recognize the deal and bid on eligible impressions.
PMPs, including curated deals, account for 28% of US programmatic display spend as of 2026. Programmatic Guaranteed (PG) — adds another 13%.
This article covers what a PMP is, how the different deal types work, what the technical setup requires on the SSP and DSP side, and how to set up a PMP on the programmatic ad platform.
What is a private marketplace (PMP)?
A PMP is a private auction used by publishers or SSPs to offer selected inventory to a restricted group of buyers. PMPs are often used for higher-value inventory. However, any inventory set matching the targeting and commercial terms can be included. For sellers, it typically results in higher CPMs (on average, 2.1x higher than open auction) and greater control over advertiser quality.
Private auctions can be prioritized over open-auction demand, but the final order depends on the publisher’s ad server, SSP configuration, deal priority, and yield-optimization rules.
Curated deals extend the PMP model further. They use the same deal ID and auction infrastructure, but the focus shifts from who gets access to what they're buying. Inventory gets enriched with first-party data, contextual signals, and audience attributes before it's packaged into a deal. Buyers don't just get a list of inventory; they get supply pre-packaged around a defined audience or contextual attribute.
Understanding how to set up a private marketplace requires configuring both the SSP and DSP sides.
Types of programmatic deals
Before covering PMP setup, it helps to understand where the private marketplace fits relative to other deal types that use deal IDs.
Programmatic Guaranteed. A one-to-one deal with a fixed CPM and guaranteed impression volume. There is no auction. All terms are negotiated in advance. OpenDirect standardizes guaranteed reservation, negotiation, order management, and trafficking.
Preferred Deal. A one-to-one, non-guaranteed deal that gives a specific buyer an initial opportunity to purchase eligible inventory at a pre-negotiated fixed price. The buyer may submit a valid bid at that price or decline the opportunity. If the deal does not transact, the impression may become available to other eligible demand sources, depending on the publisher’s configuration.
PMP (private auction). A non-guaranteed RTB auction restricted to one or more invited buyers. Eligible buyers compete for individual impressions, and the winning price is determined dynamically, subject to the configured floor and auction rules.
Parameter | Programmatic Guaranteed | Preferred Deal | Private Auction |
Buyer relationship | One buyer | One buyer | One or more invited buyers |
Inventory status | Reserved for the buyer | Non-reserved | Non-reserved |
Price type | Fixed, pre-negotiated rate | Fixed, pre-negotiated price | Dynamic, subject to the deal floor |
Competitive auction within the deal | No | No | Yes |
Volume commitment | Yes — contracted quantity | No | No |
Buyer decision | Buyer commits under the agreed terms | Buyer may bid or pass | Eligible buyers compete per impression |
PMP vs programmatic direct: Preferred Deals and Programmatic Guaranteed both use fixed pricing negotiated before the campaign. PMP keeps the auction with dynamic pricing, subject to the configured floor price.
PMP vs open auction: the infrastructure is the same, but access is restricted to invited buyers.
Understanding how to build a private marketplace starts with configuration on both the SSP and DSP sides — covered in the next section.
How PMP setup works: step-by-step
Private marketplace integration involves two sides: the SSP configuring the deal on the supply side, and the DSP targeting it on the demand side. Here is the full flow — followed by a step-by-step breakdown.
Private marketplace setup flow: from deal negotiation to matched inventory and served ad
How to build a PMP from the ground up:
The publisher sets deal terms. The publisher decides which inventory to include, sets a floor price (although some SSPs manage floor pricing themselves), and selects which buyers to invite.
SSP assigns and shares the deal ID. Once terms are confirmed, the SSP assigns a unique deal ID — an identifier that the DSP matches against its active deal configurations. The publisher or SSP communicates the deal ID to the buyer.
DSP receives and targets the deal ID. The buyer then enters the deal ID in their DSP to activate deal-level targeting — this is where PMP integration on the demand side happens.
RTB bid request carries the deal ID. When an ad request comes in from the publisher, the SSP evaluates eligible deals. If the impression qualifies for an active PMP, the SSP sends a bid request via OpenRTB that includes the deal ID.
Winning bid selected, ad served. The DSP recognizes the deal ID and places a bid. The SSP accepts only bids at or above the floor price. If the bid wins, the ad is served.
Technical requirements for PMP integration
How to set up a private marketplace correctly comes down to five components:
Deal ID in OpenRTB. The SSP passes the deal ID through the imp.pmp.deals[].id object in the bid request. The DSP reads it and includes bid.dealid in the bid response.
Deal management on the SSP. A module to create deals, assign deal IDs, configure floor prices, and control buyer access.
Deal ID targeting on the DSP. Buyers configure deal ID targeting at the line item or deal level — the exact placement depends on the DSP.
Floor price enforcement. The SSP rejects bids below the floor price set by the publisher or, in some implementations, by the SSP.
Per-deal reporting. Performance data broken down by deal ID, available on both sides.
If you're evaluating how to set up a PMP on a white-label platform, all five components need to be verified before a deal goes live.
Benefits of PMP for publishers and advertisers
PMP deals create value on both sides of the transaction — but in different ways.
Publisher benefits | Advertiser benefits |
Higher CPMs than open auction | Access to selected inventory with restricted competition |
Greater control over advertiser quality and content eligibility than on open auctions | Typically better delivery conditions than open auctions, depending on platform reporting and supply-chain transparency |
Greater control over data exposure through data activation, consent, contracts, and bidstream configuration | Inventory from identified publishers — applies primarily to single-publisher deals |
Restricted access for preferred partners | Potential for lower fraud risk depending on publisher verification and supply-chain controls |
These benefits depend on how well the deal is structured. Knowing how to build a private marketplace that delivers on both sides means getting the configuration right — covered in the technical requirements section.
PMP vs open auction vs programmatic direct
The three main programmatic buying models differ in how access, pricing, and delivery are structured.
PMP vs programmatic direct is the most common point of confusion. The main difference is that programmatic direct uses fixed pricing with no auction — either guaranteed (PG) or first-look without volume commitment (Preferred Deal). If a Preferred Deal buyer passes on the impression, it moves to a private or an open auction, depending on the publisher's configuration — but that transaction is no longer part of the original deal.
Parameter | Open auction | PMP | Programmatic direct |
Buyer access | Open to all | Invited buyers only | Single buyer (negotiated directly) |
Price | Dynamic, auction-based | Dynamic, subject to the floor price | Fixed CPM |
Guaranteed volume | No | No | PG only; Preferred Deals have no volume commitment |
Choosing between these models depends on inventory quality, relationship with buyers, and campaign goals. PMPs sit in the middle — they give publishers more control than an open auction without the volume commitments of Programmatic Guaranteed.
Common challenges when setting up a PMP
Even with the right infrastructure in place, a private marketplace setup introduces operational challenges. They're more visible than in an open auction — because both sides come in with pre-set expectations.
Low fill rate on deal IDs. The most common issue. A deal ID can be configured correctly on both sides but still generate very few matched impressions. The most common reasons are that the buyer's targeting criteria are too narrow or that the floor price is set too high relative to the available inventory.
Floor price calibration. Setting a floor that works for both sides takes iteration. Too high and the buyer passes; too low and the publisher undermonetizes premium inventory.
Scaling deal ID management. A single PMP deal is manageable. Dozens of deal IDs across multiple publishers and buyers add significant operational overhead — each with different terms, floors, and reporting requirements.
Targeting accuracy on the buyer side. Even when a deal ID is active, the buyer's campaign targeting parameters may not match the incoming impressions. If the audience, geo, or device criteria are too narrow relative to the available inventory, the deal generates few bids despite being technically configured correctly.
Most of these challenges are not unique to PMP — they're amplified versions of issues that exist across programmatic in general.
How TeqBlaze can help
TeqBlaze offers white-label SSP and white-label DSP with deal management functionality included.
How to build a PMP on the SSP side involves creating deal IDs, setting floor prices, and configuring buyer access — all within the platform interface. To make PMPs effective, publishers need to offer conditions that attract and stimulate demand partners.
When PMPs focus on premium inventory, higher bid density naturally occurs. Buyers bid more aggressively when they see inventory they value. The Traffic Shaping Tool routes high-performing inventory to demand partners most likely to engage with it. This creates the competitive environment that motivates stronger bids and better terms negotiation.
Floor pricing strategy matters equally. The SmartFloor sets floor prices dynamically based on rCPM performance. Each PMP deal reflects actual market value without leaving revenue on the table.
For curated deals specifically, platform owners can layer signal enrichment through first-party data from publishers, contextual signals, and verified Eyeota audience segments. This enriched supply travels directly through OpenRTB, allowing buyers to understand and verify what signals drive each deal. Deal IDs are created from the SSP interface, and expected performance can be previewed before activation. Deals activate for DSPs that support OpenRTB deal IDs and buyer eligibility rules.
The advantage of publisher-controlled curation through white-label infrastructure is transparency and direct demand relationships. Publishers retain control over packaging logic and can measure deal-level performance against open auction baselines. When signal enrichment is clear and measurable outcomes are tracked, curated deals outperform external marketplace reselling.
Beyond private marketplace integration and deal configuration, our technologies include A/B testing tools to compare PMP/curated deals performance against open auction baselines, real-time reporting for deal-level transparency, and TeqMate AI for AdOps/RevOps automation.
Contact us — we'll assess your setup and recommend the infrastructure that works for your PMP strategy.
Summary
PMP is not a replacement for open auction or programmatic direct — it's a different tool for different use cases. When publishers want more control over who buys their inventory, and advertisers want more transparency into where their ads run, PMP provides the structure for that.
Getting it right depends on three things: DSP recognition of deal IDs, realistic floor prices, and DSP targeting that matches available inventory. When those pieces align, PMP campaigns often achieve higher CPMs. Viewability and fraud exposure also tend to improve, given the tighter control over inventory sources.
If you're building a programmatic platform and want PMP functionality included from the start, get in touch — we'll explore your requirements and suggest the right fit.
FAQ
What is a private marketplace (PMP) in programmatic advertising?
A PMP is a programmatic auction where access is restricted to selected buyers by the publisher. The publisher typically sets the floor price, although some SSPs support SSP-managed floor pricing.
What are the different types of PMP deals?
Curated deals are commonly implemented as a type of PMP deal — they use the same deal ID and auction infrastructure, but inventory is enriched with audience and contextual signals before being packaged. Preferred Deals and Programmatic Guaranteed are sometimes grouped with PMP, but they are forms of programmatic direct — not PMP types.
How do you set up a PMP deal?
The publisher sets deal terms — including the floor price (although some SSPs manage floor pricing themselves) and the type of inventory — and communicates them to the buyer. The SSP assigns a deal ID, then the publisher or SSP communicates it to the buyer, who configures their DSP to recognize it for their campaigns. When a qualifying impression becomes available, the SSP sends a bid request that includes the deal ID.
What is the difference between a PMP and an open auction?
Both use RTB infrastructure and dynamic pricing. In an open auction, any buyer connected to the programmatic supply chain can bid on available inventory. In a PMP, the publisher restricts which buyers can participate in deals. Each deal has a unique ID. Buyer participation is determined by the publisher's eligibility configuration for that deal, not by the deal ID alone.
What is the difference between a PMP and programmatic direct?
PMP keeps the auction — pricing is dynamic, and volume is not guaranteed. Programmatic direct (Programmatic Guaranteed and Preferred Deals) uses a fixed CPM negotiated in advance. Programmatic Guaranteed also commits to a fixed impression volume.
Does TeqBlaze support PMP / curated deals?
Yes. The white-label SSP includes deal management functionality — deal ID creation, floor-price controls, buyer access configuration, and per-deal reporting. Curated deals can be built directly from the SSP interface.
