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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 launched Magnite Streaming, a unified supply-side platform that integrates technology from Magnite CTV and SpotX. This platform is designed to optimize value from both live and VOD inventory across CTV and OTT environments, providing tools for media owners to enhance ad experiences. The platform includes features such as comprehensive deal management and advanced audience targeting. Coinciding with the launch, Magnite released a study showing that 81% of respondents watch streaming TV, underscoring its growing popularity. The client base includes major entities like Disney and AMC Networks.
Magnite (Nasdaq: MGNI), the largest independent sell-side advertising platform, will announce its financial results for the fourth quarter ending December 31, 2022, after market close on February 22, 2023. A conference call to discuss these results will be held at 1:30 PM (PT) / 4:30 PM (ET) the same day. Investors can access the live call via a toll-free number or participate in a webcast available on Magnite's investor relations website. The company continues to support a robust platform for publishers, facilitating billions of advertising transactions across various formats worldwide.
Brightcove Inc. (NASDAQ: BCOV) has announced a strategic partnership with Magnite (NASDAQ: MGNI) to enhance advertising for its customers. This collaboration will integrate SpringServe to provide publishers with improved control and transparency over ad supply. By leveraging data from billions of ad requests, Brightcove aims to help clients better monetize unsold ad opportunities. The partnership is expected to boost ad fill rates and CPMs, benefiting Brightcove's global customer base.
Criteo (NASDAQ: CRTO) and Magnite (NASDAQ: MGNI) have formed a preferred relationship to enhance Criteo's retailer partners' capabilities in Connected TV (CTV) advertising. This collaboration enables retailers to extend their audiences into CTV, providing closed-loop measurement for brand partners. With projected growth rates of 27.2% for CTV and 20.5% for retail media, the partnership aims to drive revenue for retailers. Criteo's Commerce Max platform, designed for enterprise brands, will integrate Magnite's CTV expertise, enhancing advertising effectiveness.
Magnite (Nasdaq: MGNI), the largest independent sell-side advertising platform, will participate in a fireside chat at the 25th Annual Needham Growth Conference in New York City on January 10, 2023. The chat, led by analyst Laura Martin, is scheduled for 12:45 p.m. ET. Investors can access a live webcast via the company’s investor relations website, with a replay available for 90 days post-event.
Magnite specializes in monetizing content across various formats, including CTV and online video, serving agencies and brands with high-quality ad inventory.
Magnite (NASDAQ: MGNI) has partnered with SmartNews, implementing its Demand Manager Mobile solution to enhance SmartNews' programmatic ad revenue. This integration allows SmartNews to utilize a transparent Prebid pipeline to boost CPM bids on a per-impression basis while maintaining existing revenue structures. SmartNews benefits from robust reporting features and increased monetization capabilities. Magnite aims to help SmartNews grow its business through expanded access to demand sources, further solidifying its position as a leader in the sell-side advertising space.
SpringServe has achieved significant growth in 2022, surpassing 100 billion ad impressions in the first three quarters, largely due to rising ad expenditures on CTV. The total CTV ad spend is projected to increase by 22% to $6.3 billion this year. Additionally, SpringServe secured 45 new clients and reported over 80% growth in ads served. With advanced technology for ad serving and inventory management, SpringServe continues to enhance client performance while maintaining user experience.
Magnite (NASDAQ: MGNI) has entered a multi-year deal with Horizon Media, the largest U.S. media agency, to enhance supply path optimization (SPO) across various advertising formats, especially CTV. This partnership aims to bring significant efficiency gains to advertisers, leveraging Magnite's advanced audience-based buying capabilities. The integration will utilize data segments from Horizon's Connected Marketing Platform, enhancing the media buying process. This collaboration signifies a critical step in both companies' strategies to address evolving market demands.
Magnite reported a strong performance for Q3 2022, with total revenue of $145.8 million, marking an 11% increase year-over-year. Revenue ex-TAC rose 12% to $127.7 million, with CTV revenue ex-TAC achieving a significant 29% growth, reaching $55.8 million. Despite a net loss of $24.4 million (loss per share of $0.18), adjusted EBITDA improved by 11% to $44.4 million, maintaining a 35% margin. For Q4 2022, the company forecasts revenue ex-TAC to be between $151 million and $157 million.
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