Welcome to our dedicated page for Magnite news (Ticker: MGNI), a resource for investors and traders seeking the latest updates and insights on Magnite stock.
Magnite, Inc. (NASDAQ: MGNI) is the world’s largest independent sell-side advertising platform, renowned for assisting publishers in monetizing their content across various screens and formats. From connected TV (CTV), online video, display to audio, Magnite’s technology enables efficient and maximized ad revenue. The company’s platform is trusted by leading agencies and brands globally, facilitating billions of advertising transactions monthly, ensuring access to brand-safe, high-quality ad inventory.
Magnite, previously known as The Rubicon Project before merging with Telaria in 2020, has significantly enhanced its market presence by acquiring SpotX for $1.2 billion in 2021. This acquisition bolstered its CTV business, ensuring a strong foothold in an increasingly digital world. Financially, Magnite generates nearly 45% of its revenue from CTV ad inventory sales, 35% from mobile sites and apps, and the rest from computer-accessed websites.
Headquartered in bustling cities such as New York City, Los Angeles, Denver, London, and Sydney, Magnite has a global reach with offices across North America, EMEA, LATAM, and APAC. Recent projects include the integration of proprietary technology to streamline access to major audio and podcast publishers in the U.S., delivering enhanced monetization tools.
Moreover, Magnite’s Demand Manager provides optimized header bidding operations for clients like Tennis Australia, offering valuable insights, flexibility, and control. Their innovation extends to partnerships with platforms like Mediaocean’s Prisma, enabling seamless access to premium video inventory, further solidifying their industry-leading position.
Magnite continues to see growth, reporting strong financial outcomes even amid challenging ad spend environments. Their latest offerings, including the Magnite Streaming platform and ClearLine, underscore their commitment to delivering superior ad delivery solutions. The firm’s strategy focuses on expanding relationships with streaming partners, driving top-line growth, and ensuring long-term profitability.
The company remains dedicated to operational excellence, securing a significant market share in the programmatic advertising space by leveraging technological advancements and strategic acquisitions. With a strong foundation and clear future objectives, Magnite is poised to remain a pivotal player in the digital advertising ecosystem.
Magnite (NASDAQ: MGNI) has released its report titled “CTV Is for Everyone: EU5 2021”, revealing that 78% of European audiences consume CTV, highlighting its importance in advertising strategies. Between January 2020 and May 2021, CTV consumption saw a 55% increase, while traditional TV grew by only 17%. The study indicates that CTV viewers are more engaged with personalized advertising, with 23% making purchases after being exposed to CTV ads, compared to 12% for traditional TV. The research was conducted in the UK, France, Germany, Spain, and Italy.
Magnite (Nasdaq: MGNI), the largest independent sell-side advertising platform, is set to announce its financial results for Q3 2021 on November 3, 2021. The results will be disclosed after market close, followed by a conference call at 1:30 PM PT / 4:30 PM ET to discuss the performance and outlook. Interested parties can join the call via toll-free or direct dial numbers, and a live audio webcast will be available on their investor relations website.
Magnite (MGNI) has been selected as the preferred sell-side platform by fuboTV (FUBO) to support its advertising strategy, coinciding with the 2021 football season launch. This partnership aims to capitalize on the increasing shift from linear TV to connected TV (CTV), with live sports impressions growing 73% from 2019 to 2020 and an additional 26% in 1H 2021. FuboTV's CTV platform accounts for 94% of its total viewing hours, offering advertisers access to premium inventory and first-party audience data, positioning both companies for future growth in the expanding CTV market.
Magnite (NASDAQ: MGNI), the largest independent sell-side advertising platform, is hosting its Investor Day on September 15, 2021, from 11 am to 2 pm Eastern Time. The event will feature key speakers including Michael Barrett, President & CEO, and other executives. Attendees can join the webcast via this link. Magnite continues to enhance its position in the rapidly growing CTV market, following its recent acquisition of SpotX in April 2021.
Magnite (Nasdaq: MGNI) reported a strong Q2 2021, achieving revenue of $114.5 million, up 170% year-over-year, driven by the inclusion of SpotX for two months post-acquisition. Revenue ex-TAC reached $100.4 million, a 139% increase, with Connected TV (CTV) revenue growing 333% to $34.3 million. Net income was $36.8 million, a turnaround from a net loss of $39.1 million in Q2 2020. Adjusted EBITDA soared to $31.8 million, representing a 32% margin. Future expectations estimate Q3 revenue ex-TAC between $112 million and $116 million.
Magnite (Nasdaq: MGNI), the leading independent sell-side advertising platform, is set to release its financial results for Q2 2021 on August 5, 2021, after market close. A conference call will follow at 1:30 PM PT, where the company's performance and future outlook will be discussed. Notably, Magnite recently acquired SpotX in April 2021, enhancing its presence in the rapidly growing CTV market. The company focuses on monetizing content across various digital formats, serving the needs of publishers and advertisers alike.
Magnite (NASDAQ: MGNI) has acquired SpringServe for approximately $31 million, aiming to enhance its capabilities in the growing connected TV (CTV) advertising sector. This acquisition integrates SpringServe's ad serving technology with Magnite's existing platform, allowing for improved inventory management and customized ad experiences for CTV publishers. The combination is expected to streamline operations and reduce costs for clients like Pluto TV and Sinclair Broadcast Group. SpringServe's CEO will now report to Magnite's CTV chief, further integrating their teams.
Magnite has launched the first phase of its Publisher First-Party Segments Initiative, aimed at providing scalable and privacy-safe audience targeting solutions in a post-cookie environment. With participation from over 30 industry leaders, this initiative currently processes over three billion transactions daily. Moving forward, the project will integrate into Prebid.org for further development, adopting IAB Tech Lab standards. The initiative is seen as a critical step towards enhancing cross-company collaboration and securing publisher-controlled data solutions.
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.
Magnite (NASDAQ: MGNI) announced that Rakuten Advertising will utilize its CTV platform across Europe to enhance advertiser access to Rakuten TV inventory. This collaboration aims to improve the quality of ad experiences for long-form video content. Rakuten TV, Europe's first hybrid VOD platform, serves over 90 million households and attracts 12 million unique viewers monthly. The partnership comes at a time when ad-supported streaming is flourishing, with 63% of TV viewers engaging with AVOD content weekly.
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