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Magnite, Inc. - MGNI STOCK NEWS

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.

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Magnite (Nasdaq: MGNI) has priced $350 million of convertible senior notes due 2026 in a private placement, with a potential additional $50 million from initial purchasers. The offering is expected to yield approximately $340 million in net proceeds after discounts and expenses. The initial conversion price is set at $91.26 per share, reflecting a 100% premium over the last share price of $45.63. Proceeds will mainly fund the acquisition of SpotX and cover capped call transaction costs. The notes bear 0.25% interest, maturing on March 15, 2026.

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Magnite (Nasdaq: MGNI) has announced a proposed offering of $350 million in convertible senior notes due 2026 in a private placement. The offering is subject to market conditions and may include an additional $50 million if the initial purchasers exercise their option. The notes will have flexible terms, including interest payment and conversion options into cash or common stock. A portion of the proceeds will fund capped call transactions and the acquisition of SpotX, pending regulatory approvals. The offering is not contingent upon finalizing the SpotX acquisition.

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Magnite (NASDAQ: MGNI) released its "CTV: The Future Forward" report, surveying 10,500 consumers across the EU5—UK, France, Germany, Spain, and Italy—to analyze TV consumption trends amid the growing popularity of Connected TV (CTV). Key findings indicate that 82% of respondents watch CTV weekly, with the UK having the highest engagement. Furthermore, 83% prefer ad-supported services, highlighting a significant opportunity for advertisers as CTV adoption rises. The report also emphasizes the effectiveness of CTV advertising, noting that 72% of viewers take action after viewing ads.

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Magnite (NASDAQ: MGNI) reported fourth quarter 2020 revenue of $82.0 million, a 69% year-over-year increase. Full year revenue reached $221.6 million, up 42% from 2019. CTV revenue rose 53% in Q4 2020, totaling $15.3 million, while OLV revenue grew 35%. Net income was $5.9 million, up from $1.5 million in Q4 2019. The company expects Q1 2021 revenue between $58 million and $62 million. The acquisition of SpotX is set to enhance its position in the fast-growing programmatic marketplace.

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Magnite, the largest independent sell-side advertising platform, announced its definitive agreement to acquire SpotX from RTL Group for $1.17 billion in cash and stock. This acquisition will create the largest independent CTV and video advertising platform in the programmatic marketplace, enhancing support for sellers and providing an alternative to larger competitors. Magnite targets over $35 million in operating cost synergies, with expectations to realize more than half within the first year. The transaction is anticipated to close in Q2 2021, pending regulatory approval.

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Magnite (NASDAQ: MGNI) launched the open beta of Unified Decisioning, a solution designed for CTV and OTT publishers to optimize yield by integrating direct sold and programmatic demand channels. This tool enables publishers to define how these channels compete, enhancing control and efficiency. The solution is ad server agnostic and offers real-time analytics, benefiting programmatic buyers with better insights into inventory. Industry players like Seven West Media and The Trade Desk have expressed positive initial results, highlighting its potential to improve the video marketplace.

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Magnite (NASDAQ: MGNI) will release its financial results for Q4 2020 on February 24, 2021, after market close. A conference call will follow at 1:30 PM PT / 4:30 PM ET to discuss results and future outlook. The call can be accessed via toll-free numbers (844) 875-6911 for domestic and (412) 902-6511 for international callers. A webcast of the call will also be available on Magnite's investor website.

Magnite is recognized as the largest independent sell-side advertising platform, providing technology for publishers to monetize content across multiple formats.

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Magnite (Nasdaq: MGNI), the largest independent sell-side advertising platform, announced that CEO Michael Barrett will participate in a fireside chat at the 23rd Annual Needham Growth Conference on January 11th at 1:15 PM ET. The event will be hosted by Laura Martin from Needham. A live webcast will be available in the 'Events and Presentations' section of Magnite's investor relations website, with a replay accessible for 180 days after the presentation.

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Magnite (NASDAQ: MGNI) has partnered with Crackle Plus to enhance advertising transparency via its TV content reporting product. This collaboration allows Crackle Plus to share detailed content metadata with advertisers, improving insights into bidding and buying behaviors in real time. The partnership aims to validate the premium nature of Crackle Plus' programming, which sees 50 million streams monthly. Advertisers gain greater confidence in their purchases, aligning with the growing demand for premium connected TV content.

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Magnite (NASDAQ: MGNI) reported a significant milestone with over 50% year-over-year growth in total connected TV (CTV) revenue for Q3. The company's CTV technology positions it as a preferred sell-side platform for content creators and advertisers targeting valuable audiences.

This growth correlates with a shift in advertising spend, as consumers increasingly cut traditional pay-TV connections. Magnite's CTV ad requests surged by 57%, and advertisers leveraging audience targeting features grew 2.5 times year-over-year.

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FAQ

What is the current stock price of Magnite (MGNI)?

The current stock price of Magnite (MGNI) is $17.2 as of January 31, 2025.

What is the market cap of Magnite (MGNI)?

The market cap of Magnite (MGNI) is approximately 2.4B.

What does Magnite, Inc. do?

Magnite, Inc. is the world’s largest independent sell-side advertising platform, helping publishers monetize their content across various screens and formats, including CTV, online video, display, and audio.

What is Magnite’s ticker symbol?

Magnite’s ticker symbol is MGNI, and it is traded on NASDAQ.

What are Magnite’s main sources of revenue?

Magnite generates nearly 45% of its revenue from CTV ad inventory sales, 35% from mobile sites and apps, and the remaining from websites accessed via computer.

What were some key acquisitions made by Magnite?

Magnite acquired SpotX in 2021 for $1.2 billion and merged with Telaria in 2020 to expand its focus on CTV and streaming video advertising.

Where are Magnite’s headquarters located?

Magnite has headquarters in major cities like New York City, Los Angeles, Denver, London, and Sydney, with offices across North America, EMEA, LATAM, and APAC.

How does Magnite support its clients in header bidding operations?

Magnite’s Demand Manager provides clients with optimized header bidding operations, offering valuable insights, flexibility, and control to enhance monetization.

What is Magnite’s role in the programmatic advertising space?

Magnite is a leading supply-side platform (SSP) in programmatic advertising, facilitating billions of advertising transactions monthly and providing access to brand-safe, high-quality ad inventory.

How does Magnite’s platform benefit publishers and brands?

Magnite’s platform helps publishers monetize their content effectively, while providing brands with access to premium, brand-safe ad inventory, ensuring high-quality advertising transactions.

What recent projects has Magnite undertaken?

Recent projects include integrating technology to streamline access to major audio and podcast publishers and partnerships like Mediaocean’s Prisma, enabling access to premium video inventory.

What are Magnite’s future growth prospects?

Magnite focuses on expanding relationships with streaming partners, driving growth through new offerings like the Magnite Streaming platform and ClearLine, and maintaining their market leadership in programmatic advertising.
Magnite, Inc.

Nasdaq:MGNI

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MGNI Stock Data

2.42B
137.06M
1.97%
92.8%
6.24%
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