Hi and welcome back to another edition of The Keyword. It feels like a full-time job to test out Claude Code/Cowork for marketing and just general business operations. But I’m taking a quick break (to save some credits) and recap the biggest stories across the industry. Today we’re checking in on the latest from ChatGPT ads.

— Kole

Also coming up:

OpenAI began testing ads in ChatGPT in February 2026, with tightly controlled access for a small set of holding‑company agencies and large brands.

The aim is to turn ChatGPT’s existing query flow into a second revenue stream alongside subscriptions as the company gears up for a widely expected IPO.

Early performance data shows the click-through-rates aren’t like traditional search. Adthena reported (via PMW) that a client saw a 0.9% CTR on ChatGPT ads versus roughly 6% on comparable Google searches.

With ads only running on the free tier and the $8 ChatGPT Go plan – while Plus, Pro and Enterprise stay ad‑free – the addressable audience is well below OpenAI’s headline stat of “900M users,” at least for now.

At the same time, OpenAI is clearly professionalising its ad stack. This week it hired a Meta Ads veteran to head up its ads division, and is reportedly standing up its own ‘Ads Manager’ product while leaning on partners like Criteo, which plugs it into 17,000‑plus advertisers out of the gate.

Plus OpenAI hasn’t given up on its browser, Atlas.

For performance teams, the near‑term play will be less about scale and efficiency than about learning: understanding of where ChatGPT ads might eventually sit as a distinct new channel—neither search nor social—once self-serve access and proper measurement land.

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The Manus connector lets brands search and reach Instagram creators using verified first-party data without leaving the platform. The tool means brands can bypass third-party influencer platforms and easily get Meta’s authenticated creator data.

Media buyers now access LinkedIn’s professional audience data for campaigns on CTV outside LinkedIn’s own platform.

YouTube generated an estimated $62 billion in 2025, overtaking Disney's $60 billion media business, according to MoffettNathanson research. Advertising brought in $40 billion, while subscriptions added roughly $20 billion. 

YouTube is retiring BrandConnect and replacing it with Creator Partnerships, a new platform that connects brand deals directly with Google Ads, DV360, and YouTube Studio.

Verts is a TikTok-styled video feed that allows users to swipe through clips from Disney+ movies and shows, add titles to a Watchlist, or jump straight into full playback. Disney plans to open it to creators later, turning it into a more social-style platform.

Logo Takeover places a brand’s logo alongside TikTok’s on the app’s splash screen, giving brands visibility when users open the app.

Walmart said results from selling directly inside ChatGPT were “disappointing,” with incorrect items showing up in carts and lower conversion rates than its own channels. The retailer is now integrating its Sparky chatbot into ChatGPT and Gemini, keeping product discovery in AI chats but shifting purchases back to its own app and website.

The UK digital ad market grew 10% in 2025, outpacing overall GDP growth and crossing £40 billion for the first time, according to IAB UK’s annual Digital Adspend study.

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You’re caught up
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