Magnite, Inc. reports news on its independent sell-side advertising technology business, where publishers use its platform to monetize content across CTV, online video, display, audio and other digital formats. Company updates commonly cover CTV and DV+ performance, contribution ex-TAC, adjusted EBITDA, free cash flow expectations and capital actions such as stock repurchase programs.
Recurring developments also include publisher and media-owner partnerships, programmatic access to premium inventory, and product updates for SpringServe and ClearLine. Magnite news also addresses AI-supported workflow, mediation, curation and buying tools, along with executive transitions, financial conference participation and legal or competitive developments in the ad tech market.
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Magnite (NASDAQ: MGNI) released a study titled “The Rise of Streaming TV” on April 25, 2023, revealing significant shifts in viewing habits within the Nordic region. The research indicates that 78% of Nordic viewers now prefer streaming TV, making it the dominant format in Denmark, Finland, Norway, and Sweden. Notably, 77% of these viewers favor ad-supported content, and 64% of those currently subscribed to ad-free services express interest in cheaper, ad-based alternatives. Key findings suggest that ads enhance the viewing experience rather than detract from it, with 67% satisfied with ad frequency. Additionally, ad-supported streaming fosters greater trust and purchasing intent among viewers, highlighting its potential for advertisers.
Magnite has launched ClearLine, a self-service solution that allows agencies direct access to premium video inventory. This initiative aims to maximize revenue for Magnite sellers and enhance media spending efficiencies. Key launch partners include Camelot, GroupM, and MiQ. ClearLine is designed to improve data sharing while offering more flexible options for media buyers. Sean Buckley, Chief Revenue Officer, noted that while Demand-Side Platforms (DSPs) will still be vital, ClearLine responds to agency demands for more direct connections. The technology builds on existing tools to help publishers monetize content effectively. The launch is viewed positively by initial partners, enhancing operational efficiency and advertising outcomes.
Magnite (Nasdaq: MGNI), the largest independent sell-side advertising company, will report its financial results for Q1 2023 on May 10, 2023, after market close. A conference call to discuss these results and future outlook is set for 1:30 PM PT / 4:30 PM ET on the same day. Investors can join the call via toll-free and international numbers or listen to a simultaneous audio webcast available on the Magnite investor website. Magnite continues to be a trusted platform for publishers, agencies, and brands, executing billions of advertising transactions monthly across various formats including CTV and online video.
Magnite (Nasdaq: MGNI) announced the opening of a new office in Stockholm and the appointment of Natasha Westlund as the Head of Nordics on April 4, 2023. This office will support operations in Sweden, Denmark, Norway, and Finland. Westlund brings over 20 years of experience from various leadership roles, including her tenure at Google and Spotify. Senior VP Julie Selman highlighted Westlund's expertise in omnichannel formats, which aligns with Magnite's strategic goals. This move is part of Magnite's investment in enhancing support for publishers and buyers in the Nordics.
Hyros has announced the appointment of Inman Breaux as CEO, effective March 2023. Breaux aims to enhance the company's go-to-market strategy amid the ongoing merger with Banzai International. The acquisition, valued at approximately $110 million, is expected to solidify Banzai's marketing technology platform by integrating Hyros' multi-channel attribution services. Hyros focuses on improving privacy-safe attribution for digital marketers, crucial amid new regulations. Alex Becker, the former CEO, transitions to Chief Revenue Officer, emphasizing product development.
Magnite (NASDAQ: MGNI) released a study on March 21, 2023, revealing that streaming TV is now the most-watched TV format in the UK, France, Germany, Spain, and Italy. The study highlights that 82% of viewers engage with ad-supported content, with 48% of respondents considering downgrading or canceling subscriptions due to economic factors. Interestingly, ad-supported viewers consume as much content as their ad-free counterparts (16 hours/week). The findings suggest that ads enhance brand recall and purchasing intent, with 75% of ad-supported streamers more likely to purchase from brands they've seen across devices.