LG Ad Solutions Renews Global Partnership with Magnite

Rhea-AI Summary

Magnite and LG Ad Solutions have renewed their global partnership across North America, APAC, and EMEA. The collaboration has shown remarkable growth, with LG Ad Solutions' programmatic spend increasing by 103% on Magnite's Streaming SSP. LG is utilizing Magnite's SpringServe ad server for new activations, including its webOS all-in-one smart platform.

The partnership enhancement enables advertisers to access premium video inventory through Magnite's ClearLine self-service solution, with full transparency and control. In the first half of next year, advertisers will be able to use LG's proprietary first-party data and unique ad formats on the LG Home Screen through the programmatic ecosystem.

Positive

• 103% growth in LG Ad Solutions' programmatic spend on Magnite's platform
• Expansion of partnership to include new ad formats and technologies
• Integration of SpringServe ad server for enhanced ad delivery capabilities
• Access to LG's first-party data and premium inventory through ClearLine solution

Negative

• None.

Major OEM to leverage Magnite’s Streaming SSP and SpringServe ad server to power programmatic execution of new ad formats

NEW YORK, Dec. 10, 2024 (GLOBE NEWSWIRE) -- Magnite (NASDAQ: MGNI), the largest independent sell-side advertising company, and LG Ad Solutions, a leader in connected TV (CTV) and cross-screen advertising, announced a renewal of their global relationship, spanning North America, APAC, and EMEA. The partnership achieved substantial growth over the past two years which saw LG Ad Solutions’ programmatic spend grow 103% on the Magnite Streaming SSP.

LG Ad Solutions is leveraging Magnite’s SpringServe ad server to power several new activations, including its webOS all-in-one smart platform. This combination delivers an all-in-one smart platform enabling the delivery of highly tailored ad experiences that align with viewers' preferences and improve the overall TV experience. This expanded capability within LG’s webOS ecosystem allows advertisers to reach audiences on a global scale through a highly immersive and seamless ad format.

Magnite and LG Ad Solutions are continuing their collaboration and connecting to high-quality demand sources to unlock efficiencies for buyers. Advertisers can now use Magnite’s ClearLine self-service solution to directly access and purchase premium video inventory with full transparency and control. Through ClearLine, they can apply LG’s proprietary first-party data to LG’s supply and will be able to utilize unique ad formats on the LG Home Screen in the first half of next year—marking the first time these formats are available in the programmatic ecosystem.

“Our partnership with Magnite has been essential in delivering high-quality, seamless ad experiences to our viewers, and this next phase brings even more potential,” said Kelly McMahon, SVP of Global Operations at LG Ad Solutions. “With the deeper integration of Magnite’s ad-serving technology across our CTV footprint, we’re enhancing ad relevance even further and enriching the connection between brands and their audiences.”

“We’re excited to embark on the next phase of our relationship with LG Ad Solutions and build on the great success we’ve achieved to date,” said Mike Laband, SVP of Platform Revenue at Magnite. “The LG team has been supportive of new ideas and testing new technology which is always a huge help when it comes to bringing novel solutions to market. We look forward to continuing to grow the partnership globally and raising the bar for ad-supported video advertising.”

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 New York City, sunny Los Angeles, mile high Denver, historic London, colorful Singapore, and down under in Sydney, Magnite has offices across North America, EMEA, LATAM, and APAC.

About LG Ad Solutions
LG Ad Solutions is a global leader in connected TV and cross-screen advertising, driven by our mission to create meaningful connections between brands and their audiences. With a vast network of award-winning LG Smart TVs worldwide, we offer advertisers and content creators unparalleled scale, reach, and personalized precision on the largest screen in the home.

Media Relations
Kar Yi Lim
klim@magnite.com

Investor Relations
Nick Kormeluk
nkormeluk@magnite.com
949-500-0003

FAQ

What is the growth rate of LG Ad Solutions' programmatic spend on Magnite (MGNI)?

LG Ad Solutions' programmatic spend grew 103% on the Magnite Streaming SSP over the past two years.

When will LG's unique ad formats be available on Magnite's (MGNI) programmatic ecosystem?

LG's unique ad formats on the LG Home Screen will be available in the programmatic ecosystem in the first half of next year.

Which regions are covered in the renewed partnership between LG Ad Solutions and Magnite (MGNI)?

The renewed partnership spans North America, APAC, and EMEA regions.

What new technology is LG Ad Solutions implementing through Magnite (MGNI)?

LG Ad Solutions is implementing Magnite's SpringServe ad server and ClearLine self-service solution for their webOS smart platform and ad delivery.