How Listonic closed the ad-revenue blind spot
Listonic is a global shopping-list app whose main business is in-app advertising. Two of its largest ad partners don’t natively send ad revenue into MMPs. The team needed a reliable way to measure that revenue inside an MMP — and connect it back to acquisition sources.
Background
Listonic builds one of the leading shopping-list apps for iOS and Android. Monetization is primarily advertising, with premium subscriptions as a secondary stream managed through RevenueCat. The team runs campaigns across Google Ads, Meta, TikTok, Apple Search Ads, and organic channels — but the hard problem was never basic install attribution. It was whether ad revenue from non-standard partners could be trusted inside an MMP at all. Listonic’s stack includes Equativ and AdAdapted alongside AppLovin MAX and AdMob, at a scale of about 200 million ad impressions per month in 2026.
Challenge
To run growth with confidence, Listonic needed:
- A way to measure ad revenue from Equativ and AdAdapted — partners that don’t natively send revenue data into MMPs
- Numbers that reconcile with partner dashboards, so AdOps and growth can trust one view
- A single view that connects acquisition sources to real ad revenue, not just installs
Solution
Listonic integrated AdShift across Android and iOS and reports ad revenue from custom partners and standard mediation into one pipeline. Equativ and AdAdapted flow alongside AppLovin MAX and AdMob, with consent handled through Didomi and IAB TCF. Subscription revenue from RevenueCat sits in the same measurement stack, so paid and ad income can be read together. Each revenue event is attributed back to the installing user and acquisition source — including Google Ads and Apple Search Ads — so AdOps and growth share the same source of truth.
Results
Shortly after go-live, Listonic compared AdShift with Equativ, AdAdapted, AppLovin MAX, and AdMob partner reporting. Coverage landed at about 100% overall — including Equativ and AdAdapted, which make up most of Listonic’s ad revenue and don’t natively push that revenue into MMPs. AdShift now measures about 200 million ad impressions per month. Paid channels already in market — Google Ads and Apple Search Ads — show attributed ad revenue on the same surface, including revenue from custom partners.
Listonic re-checked figures against their systems about two months after go-live and confirmed the numbers still matched.
Looking forward
Listonic and AdShift continue to deepen campaign-level reporting, expand coverage across paid UA channels, and harden day-to-day views so AdOps can trust one surface for ad-monetized growth.
Does your monetization stack look like Listonic’s?
If a large share of your ad revenue sits with partners that don’t natively send data into MMPs, we should talk.
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