What does 'Real-time Bidding' mean?

Real-time bidding (RTB) is a technology used in online advertising that allows advertisers to bid on each individual ad impression. This means that instead of purchasing ad space in advance, advertisers can bid in real-time for the opportunity to display their ad to a specific user in a specific context. This process takes place in milliseconds and helps advertisers reach their target audience more accurately and efficiently. Real-time bidding works by allowing advertisers to set their own maximum bid for a specific ad impression. This bid is then