Magnite Reports Growth in Asia, Driven by Increasing OTT Viewership and Strong Omnichannel Demand

Rhea-AI Summary

Magnite (NASDAQ:MGNI) reported a significant 23% year-over-year growth in omnichannel ad spend in Asia from H1 2021 to H1 2022, outperforming the APAC digital advertising market's expected growth of 12%. This increase is attributed to the company's strong technical capabilities and partnerships with premium publishers, resulting in enhanced ad transactions and rising demand for OTT advertising. Advertisers in key sectors notably boosted their investments by over 100%. To support this growth, Magnite is expanding its team with senior hires and enhancing its operational capabilities across the region.

Positive

• 23% year-over-year growth in omnichannel ad spend in Asia.
• Growth exceeds the APAC digital advertising market's expected 12%.
• Significant increase in advertiser investment across various sectors, including F&B, technology, and business.
• Expanded team with new senior hires to support ongoing growth.
• Strategic focus on enhancing client relationships in key markets like Indonesia and India.

Negative

• None.

Magnite’s technical capabilities and integrations with premium publishers fuel 23% year-over-year growth in omnichannel ad spend in Asia across the Magnite platform

SINGAPORE, Oct. 25, 2022 (GLOBE NEWSWIRE) -- Magnite (NASDAQ:MGNI), the world’s largest independent omnichannel sell-side advertising platform, today reported growth across Asia, delivering a 23% increase from H1 2021 to H1 2022 across its platform compared with the overall APAC digital advertising market’s expected 12% growth in 2022, according to Magna Global. The positive results come as Magnite’s technical capabilities and integrations with premium publishers have been met with strong omnichannel demand, coupled with increasing OTT viewership across all screens, including mobile and CTV, throughout the region.

The success Magnite has seen in advertiser spend is directly tied to the company’s ability to provide scaled inventory from the most premium publishers in fully transparent transactions. Magnite currently works with a wide range of publisher clients in the region, including Viu, WeTV, iQIYI, Vidio and iWantTFC.

According to Magnite research, 86% of streaming viewers say they don’t mind watching ads - provided that the ad loads are kept light. Magnite enables advertisers to find these audiences across OTT and has seen meaningful growth in the number of advertisers investing in OTT as viewership has shifted to streaming. Advertisers in the F&B, technology and business verticals running OTT campaigns with Magnite increased their spend by 173%, 128%, and 149% respectively between Q2 2021 and Q2 2022. Overall impressions grew by 55% across the region during the same time period and OTT represented over 53% of regional impressions in Q2.

In response to this growth, Magnite has brought on several new senior hires to the team:

• Priyanka Bajaj, Head of Demand Facilitation Asia
• Ibrahim Merican, Demand Operations Lead Asia
• Lily Cheong, Supply Ops Lead Asia
• Hesty Dwi Utami, Business Development Director Asia
• New demand facilitation sales managers, Charlotte Hernandez and Tina Arvianh
  

The team has proven expertise that will drive forward Magnite’s presence in key regional markets across Asia. Magnite also plans to open up roles across account management, solutions engineering, sales, and product to grow inventory scale, support advertising demand, and elevate data enablement and advanced sell-side programmatic capabilities.

“Deepening and expanding our successful client relationships in Indonesia, the Philippines, Vietnam, Singapore, Thailand and India are a key priority for us,” said Gavin Buxton, Managing Director, Asia at Magnite. “We see incredibly strong demand for a best-in-class SSP that enables brands to reach consumers across all touchpoints including mobile devices and CTV as it is starting to increase scale in the region. We continue to be the preferred platform that connects advertisers to premium publishers who are searching for the most comprehensive omnichannel ecosystem to reach their audiences.”

“As the fastest growing OTT platform in Indonesia, Vision+ looks to technology leaders like Magnite for guidance in navigating the digital landscape,” commented Clarissa Tanoesoedibjo, Managing Director PT MNC OTT Network. “Since working with them, our advertising business has seen significant growth. We look forward to the continued expansion of our relationship as Vision+ broadens its premium content library to reach viewers at scale. The Magnite team always provides support to improve our business and we’re confident that with their help, the business will continue to advance.”

“In the rapidly changing digital landscape, it’s important that we work with technology vendors like Magnite who are ahead of evolving trends and take an active role in helping us to reach and exceed our business goals,” said Pavan Arora, Head, Programmatic Revenue & Operations at Hindustan Times Media Ltd.

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.

Media Contact
Einsteinz Communications
Pru Quinlan
pru@einsteinz.com.au

FAQ

What growth did Magnite report in Asia for H1 2022?

Magnite reported a 23% year-over-year growth in omnichannel ad spend in Asia for H1 2022.

How does Magnite's growth compare to the APAC digital advertising market?

Magnite's 23% growth surpasses the APAC digital advertising market's expected growth of 12%.

What sectors increased their advertising spend with Magnite?

Advertisers in the F&B, technology, and business sectors increased their spend by 173%, 128%, and 149%, respectively.

Which new roles has Magnite added to its team in response to growth?

Magnite has added several senior roles, including Head of Demand Facilitation Asia and Demand Operations Lead Asia.

What is Magnite's focus for the future in the Asia market?

Magnite aims to deepen client relationships and support advertising demand in key markets like Indonesia, the Philippines, and India.