Magnite and tvScientific Launch Performance CTV Program to Connect DTC Performance Advertisers with Premium CTV Inventory

Rhea-AI Summary

Magnite and tvScientific have launched a groundbreaking program to connect CTV publishers with performance marketers, expanding access to the $72 billion TV advertising market. This initiative targets digital-first marketers who have typically avoided CTV due to brand safety and quality concerns. It aims to unlock significant demand for CTV advertising by providing these marketers with the necessary tools for engagement. The collaboration is expected to generate additional revenue for CTV publishers while offering marketers a brand-safe environment akin to traditional advertising.

Positive

• Launch of a program connecting CTV publishers with performance marketers.
• Targeting a market worth $72 billion, enhancing CTV advertising access.
• Collaboration expected to drive significant revenue for CTV publishers.

Negative

• None.

Initiative will help CTV publishers reach a new class of first-time TV buyers that value data-driven capabilities and brand safety

LOS ANGELES, June 09, 2021 (GLOBE NEWSWIRE) -- Magnite, the world’s largest independent sell-side advertising platform, and tvScientific, a CTV buying and attribution company, today announced a first-of-its-kind program to connect CTV publishers with a new class of TV buyers, digital-first performance marketers that have not traditionally engaged in CTV advertising.

Traditional TV advertising has been largely out of reach for performance marketers, a term that also encompasses DTC marketers. Performance marketers are confronting the limitations of search and social advertising, particularly in areas such as brand safety and quality, as they grow their brands. Magnite’s direct relationships with CTV publishers, combined with tvScientific’s focus on addressing the needs of performance marketers, will help bring additional demand for CTV publishers as well as provide performance marketers with an accessible way to promote their brands using this fast-growing, data-driven medium.

“Today’s $72 billion TV advertising market is exclusive to the top 300 to 500 brands that own this influential space. tvScientific’s mission is to empower a more diverse set of advertisers, like the nine million that spend on search and social to engage in CTV advertising,” said Jason Fairchild, Co-Founder and CEO of tvScientific. “It’s been reported that 63% of all TV viewing is happening on streaming services today*. Naturally, marketers are very interested in CTV advertising, they just need the right tools. We’re thrilled to launch this new program with Magnite so that marketers can more easily engage in CTV advertising in a way that is intuitive, like search and social advertising, but with the added brand safety and premium nature of TV.”

“For too long the vast majority of marketers have not had access to TV advertising’s high quality and engaging brand-building power and we’re excited to change that,” said Todd Randak, SVP of Strategy and Partnerships at Magnite. “By working with tvScientific, we saw an opportunity to build on our previous efforts to help performance marketers tap into CTV and give them the data and flexibility they are accustomed to in other formats. In turn, this has the potential to unlock significant dollars for CTV publishers.”

*Source: Samsung Insights, 2021

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. In April 2021 we acquired SpotX to further enhance our CTV business and better help our clients in this rapidly growing market. Anchored in sunny Los Angeles, bustling New York City, mile high Denver, historic London, and down under in Sydney, Magnite has offices across North America, EMEA, LATAM, and APAC.

About tvScientific
tvScientific is a TV advertising technology company that finally brings the power of digital advertising to television. tvScientific's industry-first buying and attribution platform is the only CTV platform to offer a self-serve solution that combines fully optimized media buying with comprehensive measurement and attribution. An Idealab company, tvScientific co-founders include Bill Gross, founder of GoTo.com and father of the paid search business model, Jason Fairchild, an early executive at GoTo.com and co-founder of OpenX, in addition to David Koye, a veteran advertising and media executive from Cox Media and Kent Wakeford, co-founder of Integral Ad Science and COO of Kabam.

Media Contacts:

Magnite
Kar Yi Lim
klim@magnite.com

tvScientific (DiGenarro Communications)
Kristen Morquecho
kristen.morquecho@digenarro-usa.com

FAQ

What is the new program launched by Magnite and tvScientific?

Magnite and tvScientific launched a program to connect CTV publishers with performance marketers, expanding access to CTV advertising.

How much is the TV advertising market worth according to the press release?

The TV advertising market is valued at $72 billion.

What benefits does the new CTV program provide for performance marketers?

The program offers performance marketers data-driven tools to engage in CTV advertising in a brand-safe environment.

What company ticker is associated with Magnite?

Magnite is listed under the ticker symbol MGNI.