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.
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.
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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.
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.