Supply is up
New ad-supported tiers have added inventory across the market, and not all of it is being absorbed.
Demand has not followed evenly
Advertisers have concentrated on the same premium placements, leaving value in the surrounding inventory.
Where we are buying
Formats where the audience does not duplicate the linear plan, and where the measurement is clean enough to prove it.
What to watch
Pricing usually corrects within two quarters. The window is real but it is not permanent.