DA Davidson Comments on TTD and Publicis News.

The analyst comments "AdAge reported today that Publicis Groupe is telling clients it will no longer recommend The Trade Desk as a demand-side platform for digital media buying following a recently completed audit. Publicis is telling clients that the audit it commissioned revealed multiple violations of the master service agreement it has in place with The Trade Desk. Don't expect all Publicis revenue to migrate away from TTD - Publicis has historically represented more than 10% of gross spend on TTD's platform. This doesn't mean that all Publicis revenue necessarily goes away because TTD in many cases has a direct relationship with the underlying advertisers. However, it would likely mean that some percentage of the revenue generated from Publicis probably migrates to other DSPs. However, other independent DSPs will inevitably benefit from this - We think Viant (ticker:DSP) will benefit from this as advertisers potentially migrate spend from TTD."