The document discusses the rise of publisher co-operatives as a global digital advertising trend. Publisher co-ops allow previously competing publishers to band together to gain scale and leverage against large digital giants like Google and Facebook. They benefit publishers by rewarding content creation, attracting quality advertisers, controlling CPM volatility, and sharing costs. Advertisers also benefit from one-stop access to extended reach and volume through the co-ops. The co-ops aim to serve as a strong alternative for marketers while furthering publishers' monetization goals. Future areas of innovation could include operating all programmatic sales and expanding into new formats like audio.