What is Owned & Operated (O&O) Inventory?
Also known as: O&O, Owned and operated
Quick definition
Owned & Operated (O&O) inventory is ad space a company sells on properties it owns itself, such as its own apps, sites or streaming channels, as opposed to extended or third-party supply it resells through a network or exchange on behalf of other publishers.
Key points
- Why it matters
- O&O supply gives the seller first-party data, direct user relationships and full control over ad experience and pricing.
- Versus network supply
- Network or 'extended audience' inventory belongs to partners; quality, viewability and transparency vary more and margins are shared.
- Disclosure
- In ads.txt, the owner's direct relationship is listed as DIRECT; sellers.json marks the seller type PUBLISHER for O&O and INTERMEDIARY for resold supply.
- Examples
- A platform's own news app, a game studio's titles or a broadcaster's streaming service are all O&O for that business.
Benefits
- Cleaner supply path and stronger brand safety
- Higher-quality first-party signals for targeting and measurement
Trade-offs
- Scale is capped by the owner's own audience
- Buyers may pay a premium compared with open-exchange alternatives
FAQ
How do I verify a seller is O&O?
Compare the seller's ads.txt DIRECT lines and sellers.json entry: an O&O seller appears as PUBLISHER with the same domain as the property.
Why do buyers ask for an O&O vs network split?
Reporting revenue or spend separately shows how much reach depends on owned properties versus resold third-party supply, which affects quality and margin.
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Official sources
Last reviewed 2026-10-27. Explanations are written by AdTech Radar; consult the official specification for implementation.