Shopsense AI Activates Retail Media Advertising with Magnite Across Launch Partner Paramount Global
Shopsense AI has partnered with Magnite (NASDAQ: MGNI), the largest independent sell-side advertising company, to launch programmatic advertising on its retail media platform. This collaboration allows advertisers to reach TV viewers who are actively shopping on their second screens. Paramount Global's SVP, Leo O’Connor, highlighted the ease of purchase this brings to viewers and advertisers.
The partnership aims to simplify media planning, activation, and measurement for brand and performance buying teams. Shopsense AI's platform captures viewers' attention through both TV and second screens, enhancing exposure and conversion rates. Magnite's technology and partnerships enable seamless integration with preferred DSPs and measurement providers.
U.S. retail media budgets are expected to double to over $100 billion in the next three years, making this partnership timely and lucrative for involved parties.
- Shopsense AI and Magnite partnership enhances programmatic advertising capabilities.
- Collaboration simplifies the purchasing process for viewers and advertisers.
- Magnite's flexible technology allows integration with preferred DSPs and measurement providers.
- Shopsense's platform maximizes exposure and conversion rates through TV and second screens.
- Projected doubling of U.S. retail media budgets to over $100 billion in three years.
- Potential limitations in non-standard formats and DSP and measurement selection prior to Shopsense AI's intervention.
Insights
Shopsense AI's partnership with Magnite to launch programmatic advertising within its retail media platform represents a significant step in the evolving landscape of retail media. This collaboration allows advertisers to leverage TV content to influence shopping behavior, offering a seamless experience through the integration of TV and second-screen shopping.
From a market research perspective, the potential for growth in this segment is substantial. The integration of standardized programmatic advertising formats within retail media helps to address a critical pain point in the industry—namely, the lack of standardization. This move could attract more advertisers who previously hesitated due to complexity and inconsistency in the formats and measurement tools employed.
The concept of capturing the consumer's attention both through TV and their second screen is innovative and likely to yield positive outcomes. By simplifying the path-to-purchase process and enhancing the ability to measure ad effectiveness, this partnership could significantly influence how brands allocate their advertising budgets. The anticipated doubling of U.S. retail media budgets to
Retail investors should note that the collaboration aligns with broader industry trends toward integrated, data-driven advertising frameworks. Long-term, this initiative could set new standards for retail media and programmatic advertising, making it easier for brands to engage with consumers in a more streamlined and effective manner.
Evaluating the financial implications of the partnership between Shopsense AI and Magnite involves understanding its potential impact on revenue streams for both companies. For Shopsense AI, this partnership is a strategic move to expand its capabilities in the lucrative retail media market by providing programmatic advertising solutions. This could lead to increased revenue as more advertisers opt to use their platform for targeted advertising, boosting both ad spend and engagement metrics.
Magnite, being the largest independent sell-side advertising company, stands to benefit significantly by expanding its reach within the retail media sector. With the retail media budgets expected to double to over
For investors, the partnership holds promising implications for both short and long-term growth. The immediate benefits include enhanced capabilities and potential revenue increases as the partnership gains traction. Long-term, the alliance could establish both companies as leaders in a standardized, user-friendly retail media space, contributing to sustainable growth and shareholder value.
Advertisers Can Now Programmatically Reach TV Viewers Who Are Actively Shopping with Their Second Screen
“Building out our retail capabilities with Shopsense was a natural partnership, as we are constantly looking for ways to super serve our viewers and advertisers,” said Leo O’Connor, SVP Advertising at Paramount Global. “We’ve known that our content inspires the shopping journey for our viewers, and it was important to us to simplify the path to purchase by building content curated storefronts. Making our stores accessible programmatically is essential because we always look for ways to simplify buying with us.”
As brand and performance buying teams make strides in becoming more coordinated, they’re looking to their supply partners to construct media plans that address their full funnel. TV broadcasters leveraging Shopsense’s retail media platform are maximizing exposure, consideration, and likelihood to convert for their sponsors by capturing their viewers’ focused attention through both the TV glass and their second-screen. The programmatic availability of retail media storefronts makes it easier for brand and performance buyers to coordinate their planning, activation, and measurement across their preferred DSPs.
“Brands want the opportunity to speak to consumers while they're shopping in the aisle. Retail media to date has delivered strong performance but comes with frustrating limitations – non-standard formats combined with limited DSP and measurement selection,” said Bryan Quinn, President & Co-Founder of Shopsense AI. “Shopsense flips the script by making it easy for brands to leverage their preferred programmatic advertising playbooks while connecting with consumers alongside their shopping journey. Magnite is the ideal launch partner because their flexible technology and industry leading demand-side partnerships allow us to quickly begin working with advertisers and retail media agencies using their preferred DSPs and measurement providers using IAB-standard display ads and in-store video retail media placements.”
“With
About Shopsense AI
Shopsense AI unlocks new revenues for media companies like linear and streaming TV platforms by making their original content instantly shoppable within their own e-commerce sites and mobile apps. The patent-pending, enterprise SaaS solution allows consumers to easily find and purchase AI-curated collections of clothing, home goods, sports gear and other products inspired by what they see on their favorite shows, movies, sports events and livestream broadcasts. Offering a low-lift, no-SDK integration, the Shopsense platform allows publishers to quickly activate second-screen shopping experiences that keep their viewers within their own content and commerce ecosystem, driving revenue, engagement and loyalty.
Visit Shopsense.ai to learn more.
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
Visit Magnite.com to learn more.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240522790951/en/
For Shopsense AI:
Berns Communications Group
Michael McMullan
mmcmullan@bcg-pr.com
Source: Shopsense AI
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