Supply Policy

Effective Date: October 7, 2026

Who it applies to:

This policy applies to all publishers and supply partners (“you”) who use PubMatic to monetize websites, mobile apps, or other digital properties (“Publisher Properties”). Your Publisher Properties must comply with these requirements to remain eligible for monetization.

SECTION 1 – AUTHORIZATION & IDENTITY

Before PubMatic can transact on your inventory, your properties and seller declarations must be properly authorized and accurately represented.

1.1 Industry Transparency Standards

Supply partners must support and maintain the following IAB transparency standards:

• ads.txt / app-ads.txt – Publish and maintain accurate records of
  authorized digital advertising sellers to prevent unauthorized reselling.
• sellers.json – Accurately declare seller identity, seller type,
  and ownership information to improve supply path transparency.
• SupplyChain Object (schain) – Provide a complete and accurate
  representation of all intermediaries involved in the impression transaction.

1.2 Supply Authorization Requirements

To maintain marketplace integrity:

• Inventory owners must publish accurate and up-to-date ads.txt and
  app-ads.txt files.
• PubMatic transacts only on inventory authorized through the
  applicable ads.txt or app-ads.txt specification.
• All seller entries must accurately represent the entities
  authorized to sell the inventory.
• Do not block crawler access to sellers.json, app-ads.txt, and
  ads.txt files. PubMatic uses a crawler to verify these files.
• The OWNERDOMAIN variable must be formatted as ownerdomain=xyz.com
  and must resolve in a browser without redirects.
• If programmatic sales are handled by someone other than the
  owner, the MANAGERDOMAIN variable must be declared in ads.txt / app-ads.txt.
• Ad requests referencing invalid, incomplete, or non-transparent
  seller declarations may be blocked.

1.3 CTV Inventory Authorization

Definitions:

• Application Owner – The entity that owns and publishes the CTV
  application through a public app store. Responsible for maintaining app-ads.txt
  and authorizing inventory sales.
• Content Owner – The entity that owns or licenses the content
  delivered through a CTV application. May allow the Application Owner to
  monetize content or retain the right to sell some or all advertising inventory.

Standard CTV Authorization:

• The Application Owner must publish and maintain the application’s
  app-ads.txt file.
• The Application Owner must authorize all SSPs and exchanges
  permitted to monetize inventory from the application.
• All CTV bid requests must include the AppID from a primary CTV
  app store (Roku, Vizio, LG, Samsung, Google TV, tvOS, or Fire TV). If the AppID
  is not from a primary store, the storeURL must be included in the ad request.

Inventory Sharing (where both Application Owner and Content Owner monetize):

• The Application Owner must declare the Content Owner using the
  inventorypartnerdomain directive in app-ads.txt.
• Bid requests must populate app.ext.inventorypartnerdomain with
  the Content Owner’s domain.
• The Content Owner must publish and maintain its own ads.txt or
  app-ads.txt.

1.4 In-App Inventory Authorization

• Mobile applications must be actively listed on an official
  application store (Google Play Store, Apple App Store, Amazon Appstore).
• Bid requests must use the application’s canonical App Store
  identifier (app.bundle) and, where supported, include the corresponding
  app.storeurl.
• Publishers must publish and maintain an accurate app-ads.txt file
  on the developer website associated with the application.
• The PubMatic entry must be declared in the application’s
  app-ads.txt file.
• Effective Q4 2026, non-canonical App IDs are prohibited unless
  explicitly approved by PubMatic as a documented business exception.
• Bid requests originating from applications that have been
  delisted, suspended, or removed from their app store may be rejected.

1.5 Publisher Property Ownership

• You must own each Publisher Property or hold a direct, written
  agreement with the property owner that authorizes you to monetize its inventory
  through PubMatic.
• Do not resell inventory from unapproved exchanges.
• Do not insert ads into third-party sites via plugins or toolbars
  without permission.

SECTION 2 – BID REQUEST REQUIREMENTS

Every impression transacted through PubMatic must meet the following signal and structural requirements.

2.1 SupplyChain Object (schain) Requirements

• Bid requests must include a complete, valid, and accurate
  SupplyChain Object (schain).
• The domain in each schain node must match the domain where the
  sellers.json file of the respective advertising system is hosted.
• The hp (Payment ID Source) flag must be correctly populated per
  the IAB OpenRTB specification.
• All intermediaries must maintain accurate and publicly accessible
  sellers.json files.
• Schain is not expected from Direct Sellers and will be ignored if
  sent. Resellers not sending schain will be blocked due to authorization error.

2.2 Schain Node Limits

To promote efficient and transparent supply paths, PubMatic enforces maximum supply chain node limits:

• Web, Mobile Web, and In-App inventory: maximum of two inbound
  nodes in the schain.
• CTV inventory: maximum of one inbound node in the schain.
• The Google Open Bidding node is excluded from these node count
  calculations.

2.3 Signal Integrity

Publishers and intermediaries are responsible for preserving the integrity of all oRTB request signals. The following activities are strictly prohibited:

• Modifying, fabricating, masking, or otherwise manipulating
  publisher-originated signals.
• Replacing or rewriting identifiers, domains, application
  identifiers, device attributes, geographic information, or content metadata.
• Injecting inaccurate metadata intended to misrepresent inventory
  quality.

PubMatic continuously audits ad requests for signal integrity. Sellers or intermediaries found to have manipulated signals with intent to falsely influence auction behavior may be blocked or terminated.

2.4 Supply Transparency Enforcement Matrix

The table below summarizes mandatory requirements by inventory type. Non-compliant requests may be rejected or subject to enforcement.

2.5 Ad Request Structure

• Send only one ad request per unique impression opportunity.
  Include separate impression objects only for truly distinct slots with
  different GPIDs.
• For slots that support multiple formats (e.g., banner + video +
  native), use multi-format requests with a unique object for each format.
• Include all supported sizes in the format object of a single ad
  request.
• Send only one ad call per impression opportunity. Do not send
  multiple requests with different floor prices, including sequential calls
  (price waterfalling).

2.6 oRTB Signal Requirements and Recommendations

The table below outlines required and recommended oRTB signals by inventory type.

SECTION 3 – CONTENT STANDARDS

All content monetized through PubMatic must meet the following standards.

3.1 Minimum Content Requirements

Your properties must feature original, valuable content, clear ownership information, and real user engagement. PubMatic will not serve ads on properties that:

• Contain low-value or filler content (e.g., copied material,
  AI-generated boilerplate, or fictional authors).
• Use content from other sites without proper attribution,
  meaningful commentary, or curation.
• Are mostly ads with very little actual content.
• Show no signs of a loyal or engaged audience.
• Are undeveloped, dead domains, or lack verifiable ownership or
  authorship.
• Are proxy or redirect sites.
• Target specific traffic sources.

All monetized content must be accessible through normal site navigation.

3.2 Banned Categories

The following content is strictly prohibited. PubMatic aligns with industry standards from the 4A’s and IAB:

• Adult & Explicit Sexual Content – Child sexual abuse material
  (CSAM), explicit sexual acts, genitals (real or animated), pornographic or
  highly suggestive material.
• Arms & Ammunition – Sales or promotion of firearms/ammunition
  (legal or illegal), instructions on making or using illegal weapons.
• Violence & Criminal Activity – Graphic promotion or depiction
  of murder, violence, willful harm, human trafficking, slavery, or other serious
  crimes.
• Online Piracy – Copyright infringement, torrents, warez,
  black-hat hacking, or promotion of content theft.
• Hate Speech & Aggression – Content inciting hatred or
  violence based on race, ethnicity, religion, gender, sexual orientation, etc.
• Military Conflict – Content intended to provoke war or
  aggression; graphic footage of war crimes or genocide (except legitimate news).
• Obscenity & Profanity – Excessive shocking, offensive, or
  insulting language or gestures meant to offend.
• Illegal Drugs – Promotion or sale of illegal drugs,
  paraphernalia, or prescription drug abuse where prohibited by law.
• Malware & Harmful Code – Distribution of or linking to
  malware, viruses, spyware, phishing schemes, or other harmful code.
• Terrorism – Promotion or advocacy of terrorist acts or harm to
  people or society.
• Tobacco, eCigarettes, Vaping & Alcohol to Minors – Sales or
  promotion targeting minors.
• Online Gambling – Any real-money wagering regardless of local
  legality. Simulated gambling without money is allowed.
• Sensitive Social Issues / Human Rights Violations – Harmful
  treatment of abortion, extreme politics, self-harm, animal cruelty, or targeted
  harassment.
• Other Illegal Content – Defamation, libel, bomb-making
  instructions, lock-picking guides, or promotion of harmful or illicit activity.
• Excessive User-Generated Content – Unmoderated UGC, video chat,
  or live streaming (except sports, concerts, or public events).
• Made for Advertising (MFA) – Sites primarily designed to display
  ads rather than serve users, including sites categorized as MFA by Jounce Media
  or similar verification providers. This includes AI-generated low-quality
  content sites with templated UI and poor UX.

3.3 High-Risk Inventory

In addition to the banned categories above, the following inventory types are prohibited and may be blocked or removed:

• AI-generated low-quality content characterized by templated UI,
  poor UX, or lack of meaningful editorial oversight.
• Pop-sourced or pop-creator inventory.
• Any inventory exhibiting MFA characteristics as defined by
  third-party verification providers.

3.4 Restricted Categories

Generally legal but may be limited depending on context.

• Adult humor
• Suggestive content
• Sexual health topics
• Significant user-generated content
• Sale of alcohol
• Sale of prescription drugs
• Fantasy / daily fantasy sports (in some jurisdictions)
• Cannabis-related content

SECTION 4 – AD EXPERIENCE

All Publisher Properties must provide a high-quality ad experience. PubMatic prioritizes properties that meet the following standards.

4.1 Ad Density

• No more than 3 ads visible in a viewport at any given time.
• Ads-to-content ratio (A2CR) must remain below 35%.
• Do not edit, resize, obscure, or modify ad creatives. The entire
  creative must be visible, including in iframes.
• Ads must be clearly distinguishable from content.
• No ads in pop-ups, pop-unders, or email bodies.

4.2 Ad Refresh

Refresh ads only when:

• The user navigates to a new page or screen, or
• The page has substantial new content and at least 1 minute has
  passed, or
• The ad has been in view for at least 30 seconds (MRC-verified) on
  web; at least 10 seconds on mobile app.

Maximum 20 refreshes per user session. Auto-advancing slideshows may not load new ads with each slide.

4.3 Video

• Only one video ad may play at a time in the viewport.
• Maintain a reasonable content-to-ad balance. Avoid very short
  content with long ads.
• Video inventory must include industry-standard attributes (player
  size, placement type, plcmt) in the ad request.
• Video Player Dimension, Playback, and Sound Features must be
  declared per oRTB 2.6 fields.
• PLCMT and INSTL flags must be correctly declared and in sync.
• Rewarded ad placements must be declared using oRTB 2.6 field rwdd
  = 1.

4.4 Ad Positioning & Format

• Desktop: Ads on standard web pages only. Other app types require
  prior approval.
• Mobile Apps: Ads only inside the active app (Apple App Store,
  Google Play, Amazon Appstore, or Microsoft Store). No ads on lock screens or in
  the background.
• CTV/OTT: In-stream ads only; maximum 5 ads per block. Content
  must be at least 4x longer than the ad block.

4.5 Better Ads Standards

All properties must comply with the Coalition for Better Ads Standards. See betterads.orgfor current requirements.

4.6 Slideshows & Galleries

• Maximum 3 ads per slideshow page.
• Ads must appear at or above the bottom of the slideshow (one
  additional ad allowed immediately below on mobile).
• Auto-advancing slideshows cannot load new ads with each slide.
• Each slide must contain materially different content. Minor
  changes do not qualify.
• No auto-refresh on slideshow pages.

4.7 Page Performance

• Page weight must be below 100 MB.

SECTION 5 – CONDUCT & PRIVACY

These requirements apply to the entire property if any PubMatic ads are served.

5.1 Prohibited Conduct

You must not:

• Start downloads or change settings without user consent.
• Hide or disguise your real URL or traffic source.
• Artificially inflate impressions, clicks, or requests (including
  via pop-ups, pop-unders, or forced redirects).
• Vary ad number, layout, or refresh rate based on visitor source.
• Show fake error messages or alerts.
• Require login for most content.
• Trick users into clicking ads (e.g., no arrows or “click
  here” near ads).

5.2 Required Conduct

You must:

• Clearly separate ads from content.
• Provide accurate inventory details to PubMatic.
• Disclose real owners and operators. Vague “About Us”
  pages are not acceptable.
• Offer a transparent, direct contact method. Generic webmail
  (Gmail, Hotmail, etc.) is not acceptable.
• Ensure properties are safe per reputable malware and invalid
  traffic detection tools.

PubMatic may suspend unsafe properties until issues are resolved.

5.3 Data Privacy & Prohibited Data

You must not pass the following data in ad requests to PubMatic:

• Full names, usernames, or direct contact information (email,
  phone).
• Government-issued identification numbers.
• Precise geolocation without opt-in consent.
• Biometric data.
• Payment card or financial account numbers.
• GDPR special category data (Article 9(1): racial/ethnic origin,
  political opinions, religious beliefs, health, sexual orientation).
• Any data enabling direct identification of an individual.

You must use only pseudonymous identifiers (cookies, resettable device IDs) in ad requests.

5.4 Video Privacy (VPPA)

For video and CTV inventory, you must obtain any consent required under the Video Privacy Protection Act before passing video viewing data to PubMatic.

SECTION 6 – QUALITY & FRAUD

PubMatic is committed to maintaining a trusted, fraud-free advertising marketplace.

6.1 Invalid Traffic (IVT) Definition

Any fraudulent, invalid, non-human, involuntary, duplicate, or otherwise illegitimate traffic is classified as Invalid Traffic (IVT) and is subject to enforcement. PubMatic adopts the IVT definitions published by the Media Rating Council (MRC) and continuously enhances detection using proprietary and third-party technologies.

6.2 Inventory Quality Risk & IQ Fee

“Inventory Quality Risk” includes fake impressions (bots, manipulated placements, redirects with no human view) or brand safety issues (ads near prohibited content). If risks are detected:

• PubMatic may pause monetization or block specific impressions.
• PubMatic may charge an Inventory Quality Fee of $0.02 CPM for
  impressions flagged as low-quality. Monthly charges are rounded up to the
  nearest $10 and waived if under $100.

6.3 Fraudulent Impressions & Payment

• PubMatic may withhold payment for impressions under
  investigation.
• You will not be paid for fraudulent impressions.
• Repeated violations can lead to immediate suspension or
  termination of your account.

SECTION 7 – COMMERCIAL & PLATFORM TERMS

7.1 Inventory Performance & Max Cap

PubMatic may set daily maximum impression limits based on traffic quality and market value. Exceeding the Max Cap can result in suspended monetization until resolved. PubMatic will attempt to notify you beforehand unless platform stability is at risk.

7.2 Inventory Lifecycle Management

You should work with PubMatic to optimize performance by:

• Removing or displacing low- or non-monetizing inventory.
• Regularly refreshing content and placements.
• Filtering underperforming geo-locations.
• Removing poor-performing ad units or domains.

7.3 Excess Inventory Fee

Exceeding Max Caps may incur an Excess Inventory Fee of $0.001 CPM (rounded up to nearest $10/month). The first daily overage each month is not charged.

SECTION 8 – ENFORCEMENT

PubMatic enforces this policy through a tiered approach designed to give supply partners the opportunity to remediate violations before escalation.

8.1 Tiered Enforcement Framework

• Warning – PubMatic may notify you of a policy violation and
  require remediation within a specified timeframe.
• Restriction – PubMatic may limit monetization on specific
  properties, ad units, or inventory types.
• Suspension – PubMatic may pause all monetization pending
  investigation and remediation.
• Termination – Repeated or severe violations may result in
  permanent account termination.

8.2 Immediate Action

PubMatic reserves the right to bypass the tiered process and take immediate action (including suspension or termination) for severe violations, including fraud, malware distribution, or content involving the exploitation of minors.

8.3 Financial Consequences

The following financial consequences apply as described in their respective sections:

• Inventory Quality Fee – $0.02 CPM for impressions flagged as
  low-quality (Section 6.2).
• Excess Inventory Fee – $0.001 CPM for impressions exceeding Max
  Cap (Section 7.3).
• Payment withheld – PubMatic may withhold payment for impressions
  under investigation and will not pay for confirmed fraudulent impressions
  (Section 6.3).