Magnite Expands Global Presence with Opening of First India Office

Rhea-AI Summary

Magnite (Nasdaq: MGNI) opens new office in Mumbai, India, to support publishers and buyers in the fast-growing digital advertising market. Programmatic adoption in India is forecasted to increase at a CAGR of 32% until 2027. The company introduced new advanced tools for streaming TV media owners, leading to 185% year over year growth in CTV ad spend in India.

Opening of a Mumbai location enhances support for publishers and buyers in market

MUMBAI, India, Dec. 12, 2023 (GLOBE NEWSWIRE) -- Magnite (Nasdaq: MGNI), the largest independent sell-side advertising company, has announced the opening of a new office in Mumbai, which will serve as the company’s base across India. The move indicates the company's commitment to providing support for publishers and buyers in one of the fastest-growing digital advertising markets in the world.

“Programmatic adoption in India is forecasted to increase at a CAGR of 32% until 2027, according to Magna Global,” said Gavin Buxton, Managing Director of Asia at Magnite.” Establishing a Magnite hub in Mumbai allows us to provide more hands-on support and help our clients navigate the changing market landscape. As advertisers continue to seek out the most comprehensive omnichannel ecosystem to reach their audiences, we’ll be able to more seamlessly connect them with the premium publishers we work with.”

This year, Magnite introduced new advanced tools for streaming TV media owners in India, including Magnite Streaming and the SpringServe ad server, to help them better manage high-quality ad experiences across the video landscape. These developments have been met with strong marketplace demand and fuelled 185% year over year growth in CTV ad spend in India.

Magnite continues to build out its team in India and most recently appointed Chandrahas Shetty as Demand Facilitation Lead. Other team members include Karnika Maroo, Senior Account Manager, Supply, Jerit Kunjumon, Account Manager, Supply, and Rohit Prasad Yeggina, Senior Account Manager. Together, they are focused on delivering great results for clients by ensuring they can leverage Magnite’s unique omnichannel capabilities.

About Magnite
We’re Magnite (NASDAQ: MGNI), the world’s largest independent sell-side advertising company. 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, colorful Singapore, vibrant Mumbai and down under in Sydney, Magnite has offices across North America, EMEA, LATAM, and APAC.

Media Contact:
Megan Hughes
mhughes@magnite.com

Minal D’Rozario
minal@ideosphereconsulting.com

FAQ

What is the latest announcement from Magnite (Nasdaq: MGNI)?

The latest announcement is the opening of a new office in Mumbai, India, to support publishers and buyers in the digital advertising market.

What is the forecast for programmatic adoption in India?

Programmatic adoption in India is forecasted to increase at a CAGR of 32% until 2027.

What tools did Magnite introduce for streaming TV media owners in India?

Magnite introduced new advanced tools for streaming TV media owners, including Magnite Streaming and the SpringServe ad server.

What was the impact of the new tools introduced by Magnite in India?

The new tools led to 185% year over year growth in CTV ad spend in India.

Who are the key team members recently appointed by Magnite in India?

The key team members recently appointed by Magnite in India include Chandrahas Shetty as Demand Facilitation Lead, Karnika Maroo as Senior Account Manager, Supply, Jerit Kunjumon as Account Manager, Supply, and Rohit Prasad Yeggina as Senior Account Manager.