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. 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.
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.
Magnite (NASDAQ: MGNI) has announced a strategic partnership with rlaxx TV, expanding programmatic OTT advertising capabilities. As rlaxx TV’s ad-supported VOD service launches in 26 countries, Magnite's technology will efficiently manage their OTT inventory on CTV and mobile apps. This collaboration aims to leverage Magnite’s advanced CTV platform for premium ad experiences. rlaxx TV’s app, available on 60% of smart TVs, offers free access without registration. The partnership positions both companies to capitalize on the growing trend of ad-supported streaming across Europe.
Magnite (Nasdaq: MGNI), the largest independent sell-side advertising platform, has announced its participation in several upcoming financial conferences. Key events include the Stephens Annual Investment Conference on November 15, 2022, at 10:00 a.m. CT, followed by the RBC Capital Markets Technology Conference on November 16, 2022, at 2:00 p.m. ET. The Craig-Hallum Alpha Select Conference will take place on November 17, 2022, featuring in-person meetings. Live webcasts will be available on Magnite’s investor relations website, with replays accessible for 90 days.
Magnite (NASDAQ:MGNI) reported a significant 23% year-over-year growth in omnichannel ad spend in Asia from H1 2021 to H1 2022, outperforming the APAC digital advertising market's expected growth of 12%. This increase is attributed to the company's strong technical capabilities and partnerships with premium publishers, resulting in enhanced ad transactions and rising demand for OTT advertising. Advertisers in key sectors notably boosted their investments by over 100%. To support this growth, Magnite is expanding its team with senior hires and enhancing its operational capabilities across the region.
SpringServe, a leading independent TV ad serving platform, announced that VIZIO will implement its Tiles solution to enhance content discovery on VIZIO SmartCast for U.S. users. This collaboration aims to improve the user experience by providing tailored content and advertising options. The Tiles feature allows publishers to showcase customized content and ads efficiently, enhancing navigation on smart TVs. The initiative underscores VIZIO's commitment to delivering immersive entertainment while utilizing advanced targeting and reporting provided by SpringServe.
Fox Corporation has partnered with Magnite (MGNI) to enhance programmatic advertising for its OneFOX video inventory. This collaboration aims to optimize the buying process for advertisers across FOX's extensive portfolio, including sports, entertainment, and news. By leveraging Magnite’s technology, FOX seeks to provide advertisers with efficient access to streaming audiences, improving their return on investment. Both companies plan to develop customized tech solutions to streamline advertising campaigns, reinforcing FOX's strategy to innovate in the advertising space.
Magnite (Nasdaq: MGNI), the leading independent sell-side advertising platform, will report its financial results for Q3 2022 on November 9, 2022, following market closure. A conference call will take place at 1:30 PM PT / 4:30 PM ET to discuss the results and future outlook. Investors can join the call via toll-free number (844) 875-6911 domestically or (412) 902-6511 internationally. The call will also be available via a simultaneous audio webcast on the company's investor relations website.
OpenAP announced the programmatic interoperability of OpenID, enhancing audience-based campaigns in television. This development allows seamless integration with FreeWheel, Magnite, and Xandr's Monetize SSP, enabling holistic measurement across linear and digital advertising. Advertisers can now utilize OpenID for targeting and measurement across all premium TV platforms, streamlining campaign performance evaluation. GroupM will be the first agency to implement these capabilities, providing clients with unified insights via the XPm framework. This move aims to resolve fragmentation in the media ecosystem and improve cross-screen viewing effectiveness.
On September 21, 2022, Group Black announced a collaboration with Magnite (NASDAQ: MGNI), the largest independent sell-side advertising platform, to enhance programmatic offerings for Black-owned media. This partnership aims to bolster revenue streams for these brands and increase opportunities in the media landscape. Magnite's technology will provide minority-owned publishers access to previously unavailable measurement systems, supporting their advertising strategies across various digital formats. The collaboration reflects Group Black's mission to facilitate easier media purchasing for Black-owned entities.
Magnite (NASDAQ: MGNI) partners with Kroger to enhance Kroger Precision Marketing (KPM) through a focus on CTV and online video. The collaboration will utilize KPM's first-party data to optimize advertising inventory across formats, reaching 80 million CTV households in the U.S. This initiative aims to create a centralized access point for advertisers, addressing supply fragmentation and increasing scale for CPG brands. Kroger, serving 60 million households, integrates its loyalty program data to enhance media strategy and provide targeted advertising solutions.