Google is rolling out two new reporting views inside Performance Max campaigns: product-level data scoped to individual asset groups, and a breakdown of budget distribution across audience segments. Search Engine Roundtable reported the additions after advertiser Yash Mandlesha documented both in a LinkedIn post.
Performance Max has carried a persistent reputation as a black box since its full rollout in 2021. Google consolidated Smart Shopping and Local campaigns into PMax in 2022, bundling search, display, YouTube, Discover, Gmail, and Maps placements under a single automated campaign. The tradeoff was visibility: advertisers handed Google the keys and received aggregate performance numbers in return. For retailers running large product catalogs across multiple asset groups, that meant no clean way to answer the question “which products are driving returns in which asset group?”
The product-by-asset-group report addresses that gap directly. Previously, product performance data was only available at the campaign level. An advertiser running five asset groups targeting different product categories had no reporting surface to isolate which SKUs were converting within a specific group. The new view scopes product data to the asset group, which lets teams identify underperformers at the category level rather than the campaign aggregate.
The audience segments report shows where budget is being distributed across the audience signals a campaign uses. Mandlesha described the new view as a way to “see where budget gets distributed across audience segments.” That visibility matters because PMax treats audience signals as suggestions, not targeting constraints, meaning spend can drift toward audiences the advertiser did not prioritize. The new report surfaces where that drift is happening.
Neither report represents full transparency into how PMax allocates budget across channels or auction types. Google has not disclosed whether these views extend to all campaign subtypes or are limited to specific configurations. The product-by-asset-group data also does not reveal PMax’s internal scoring of creative assets, which remains opaque. What advertisers can now do is diagnose structural problems, specifically whether a product category or audience group is consuming budget without proportional return.
For practitioners managing retail or ecommerce PMax campaigns, the practical moves are immediate. The asset-group product report enables pruning: products with low conversion rates in one asset group can be restructured or excluded, rather than being masked by stronger SKUs in the same campaign. The audience spend breakdown enables a different test: if budget is flowing heavily to an audience segment that was added as a signal but does not reflect the actual buyer profile, that is now visible and correctable.
Google has been adding incremental PMax reporting features through 2024 and into 2025, including search term insights and asset-level performance ratings. These two additions continue that pattern but represent a more substantive step because they address the asset-group isolation problem that media buyers have flagged specifically as a portfolio management gap. Reporting that surfaces only at the campaign level forces advertisers to make product and audience decisions by inference. Scoped reporting removes that inference requirement for these two dimensions.
Advertisers currently running PMax with multiple asset groups should check account access for the new views this week, as rollouts are gradual. Teams spending significant monthly budget on PMax without asset-group-level attribution should treat the product report as a priority audit to run before the next budget review cycle.
Reported by Search Engine Roundtable on June 29, 2026, based on a LinkedIn post by advertiser Yash Mandlesha documenting the new Performance Max reporting views.
