Fox Corporation Taps Magnite to Drive Programmatic Monetization Across OneFOX

Rhea-AI Summary

Fox Corporation has partnered with Magnite (MGNI) to enhance programmatic advertising for its OneFOX video inventory. This collaboration aims to optimize the buying process for advertisers across FOX's extensive portfolio, including sports, entertainment, and news. By leveraging Magnite’s technology, FOX seeks to provide advertisers with efficient access to streaming audiences, improving their return on investment. Both companies plan to develop customized tech solutions to streamline advertising campaigns, reinforcing FOX's strategy to innovate in the advertising space.

Positive

• Strategic partnership with Magnite to enhance programmatic advertising.
• Access to a broad audience across FOX's premium content portfolio.
• Development of custom technology solutions for streamlined advertising.
• Opportunity for advertisers to improve ROI through innovative solutions.

Negative

• None.

NEW YORK, Oct. 19, 2022 (GLOBE NEWSWIRE) -- Fox Corporation (Nasdaq: FOXA, FOX; “FOX” or the “Company”) today announced a partnership with Magnite (Nasdaq: MGNI), the world’s largest independent omnichannel sell-side advertising platform (SSP), to serve as the launch partner to power programmatic campaigns for OneFOX video inventory across the company’s leading entertainment, sports, streaming and news portfolio. Today’s announcement is part of FOX’s continuing strategy of providing more innovative advertising tools and resources to further deliver integration and alignment with its industry-leading brands, as well as enhancing an advertiser’s return on investment through effective innovative solutions.

OneFOX provides advertisers with seamless access to streaming audiences at scale and the opportunity to leverage the full power of FOX’s unmatched portfolio of premium content across all connected TV, streaming, AVOD and FAST video inventory.

Magnite will serve as a sell-side advertising platform connected to the OneFOX inventory. Together, FOX and Magnite will build custom technology solutions that further streamline the buying process and enable advertisers to create one simple and unified plan to deliver their private marketplace (PMP) and programmatic guaranteed campaigns across the FOX portfolio.

“In unifying our vast library of assets, we recognized the need to identify the right technology provider who could help deliver our premium inventory to advertisers,” said Dan Callahan, SVP Data Strategy and Sales Innovation at Fox Corporation. “Magnite’s programmatic expertise and industry-leading technology make them the perfect fit to connect buyers with FOX audiences across all our properties. We have been impressed by what Magnite has created to support our inventory monetization efforts and look forward to the growth of our relationship.”

“With OneFOX, FOX has consolidated its large audience footprint and as viewers shift to CTV and OTT, buyers have increasingly turned their attention to programmatic as a way to reach these audiences with greater efficiency,” said Mike Laband, SVP, Programmatic Platforms at Magnite. “We look forward to building out technology to support this shift and streamline access to FOX’s suite of premium inventory for advertisers.”

About Magnite

We’re Magnite (NASDAQ: MGNI), the world’s largest independent sell-side advertising platform. Publishers use our technology to monetize their content across all screens and formats including CTV, online video, display, and audio. The world's leading agencies and brands trust our platform to access brand-safe, high-quality ad inventory and execute billions of advertising transactions each month. Anchored in bustling New York City, sunny Los Angeles, mile high Denver, historic London, and down under in Sydney, Magnite has offices across North America, EMEA, LATAM, and APAC.

About Fox Corporation
Fox Corporation produces and distributes compelling news, sports, and entertainment content through its primary iconic domestic brands, including FOX News Media, FOX Sports, FOX Entertainment and FOX Television Stations, and leading AVOD service Tubi. These brands hold cultural significance with consumers and commercial importance for distributors and advertisers. The breadth and depth of our footprint allows us to deliver content that engages and informs audiences, develop deeper consumer relationships, and create more compelling product offerings. FOX maintains an impressive track record of news, sports, and entertainment industry success that shapes our strategy to capitalize on existing strengths and invest in new initiatives. For more information about Fox Corporation, please visit www.FoxCorporation.com.

Media Contact

Media Relations:
Kar Yi Lim
klim@magnite.com
917-658-1994

Investor Relations:
Nick Kormeluk
nkormeluk@magnite.com
949-500-0003

FAQ

What is the partnership between Fox Corporation and Magnite (MGNI)?

Fox Corporation has partnered with Magnite to power programmatic advertising for its OneFOX video inventory.

How will the partnership benefit advertisers using OneFOX?

The partnership aims to provide seamless access to streaming audiences and improve return on investment through effective advertising solutions.

What is OneFOX and its significance in this partnership?

OneFOX is an advertising initiative by FOX, designed to unify its video inventory, enabling advertisers to access a large audience across various platforms.

What technology will Magnite provide in the partnership?

Magnite will provide a sell-side advertising platform that connects advertisers with FOX's premium inventory, streamlining the buying process.

What is the expected outcome of the collaboration for Fox Corporation?

The collaboration is expected to enhance FOX's advertising capabilities and drive integration with its leading brands.