The real question is how much advertisers need online display. Most don't need much. Honestly, online display has more meaningful competition from print (yes),

The real question is how much advertisers need online display. Most don't need much. Honestly, online display has more meaningful competition from print (yes), radio, and TV because it's more geared to branding. For direct response, generally speaking online ads are more cost effective. For the most part, you don't need to place direct response ads on publishers' websites. You can just put them on FB or Google search. I would say that it's a simple issue of aesthetics and performance. Banner ads look like total garbage. Video ads on Youtube videos tend to be less appealing than video ads on a big screen TV. Tiny thumbnail video ads on news websites are visual pollution at best and a total annoyance at worst.