In an interview posted by investment advisor, Needham & Company, Bill Duggan (Group Executive Vice President at ANA) outlines the key findings revealed in the landmark study by the ANA on programmatic advertising and the excessive waste in the ecosystem. Full disclosure: I am General Counsel to the ANA and worked on the study with their team.

Without question, massive dollars are being wasted in programmatic media. No one argues otherwise. While some debate about the total amount of waste, even those who support programmatic media admit the waste is significant. Some argue that it's acceptable given the costs and reach.  Brands continue to invest despite the glaring problems with very few demanding change.

Media agencies, DSP's, SSP's, and consultants claim to have the solution. So why hasn't the needle moved on waste since the first study more than five years ago?