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 (Nasdaq: MGNI), the leading independent omnichannel sell-side advertising platform, announced its participation in two upcoming financial conferences. The management team will present at the Berenberg Thematic Software Conference on March 1, 2022, at 2:00 PM ET, and will also conduct virtual meetings at the SIG Susquehanna Financial Group's 11th Annual Technology Conference on March 3, 2022. Investors can access a live webcast of the Berenberg presentation on Magnite’s investor relations website, which will be available for replay for 90 days.
Magnite (NASDAQ: MGNI) has acquired Carbon, a platform designed for real-time audience management and monetization, as part of its strategy to adapt to the upcoming changes regarding third-party cookies. This acquisition enhances Magnite's identity solutions that focus on first-party data, addressing the evolving demands of advertisers and publishers. Financial terms of the acquisition were not disclosed. The deal aims to combine Carbon's technology with Magnite’s resources to create better audience targeting and advertising value.
Magnite (NASDAQ: MGNI) has been selected as the primary technology partner for GroupM in the US and Canada. This partnership consolidates GroupM's programmatic media buying across CTV, digital video, and display into Magnite's platform. GroupM aims to enhance buying power and optimize advertising strategies through this collaboration. The SpringServe ad server will also be utilized for the GroupM Premium Marketplace. This deal signifies a major advancement in media planning and execution, reflecting the need for efficient digital media investment.
Magnite (NASDAQ: MGNI) reported a remarkable 97% revenue increase to $161.3 million in Q4 2021 compared to Q4 2020. The company's Adjusted EBITDA margin reached 48%, reflecting robust profitability. Despite a dip in net income to $0.5 million, the non-GAAP earnings per share rose 37% to $0.26. CTV revenue ex-TAC surged 252% year-over-year, indicating strong growth in that segment. For Q1 2022, projected revenue ex-TAC is estimated at $105-$109 million, with full-year expectations exceeding $500 million.
Magnite (Nasdaq: MGNI) has launched Live Stream Acceleration (LSA), a technology aimed at optimizing live inventory for CTV publishers. Sling TV reported a 47% increase in ad conversions during a five-week testing period using LSA. This technology ensures timely ad delivery, preventing lost advertising opportunities that equate to 51 seconds of airtime in live events. LSA enhances the advertising ecosystem by regulating queries during audience spikes, enabling more effective targeting for advertisers and improving user experience without compromising privacy.
Magnite (Nasdaq: MGNI) released findings from a study indicating that 44% of cable subscribers would cancel their service if they could access live sports online. The survey conducted among 1,500 US adults revealed that 22% plan to cancel cable within six months. Notably, nearly half of live sports streamers found TV ads integral to their viewing experience, with 62% discovering new products through them. The results suggest a growing trend toward live-streaming subscriptions and a shift in the advertising landscape, highlighting the importance of engaging with audiences through connected TV (CTV).
Magnite (MGNI) has partnered with Samsung Ads to enable programmatic buying of Samsung TV Plus inventory in India. This collaboration allows advertisers to access exclusive connected TV (CTV) inventory on Samsung's ad-supported service, which launched in India in March 2021, offering 45 live channels. The Indian video market is projected to reach $18 billion by 2026, driven by smart TV adoption. This partnership positions Magnite as a key player in India's growing OTT advertising landscape.
Magnite (Nasdaq: MGNI), the leading independent sell-side advertising platform, will release its financial results for Q4 2021 on February 23, 2022. The earnings announcement will occur post-market close, followed by a conference call at 1:30 PM PT / 4:30 PM ET to discuss the results and future outlook. Investors can join the live call via toll-free or direct dial numbers, or listen to a simultaneous audio webcast available on the company's investor relations page.
Magnite (NASDAQ: MGNI) announced the acquisition of the team from Nth Party, a startup focused on cryptographic software for secure audience data sharing. This strategic move enhances Magnite's commitment to developing advanced identity and audience solutions for advertisers. The acquisition involves a team of 7 employees, including 5 engineers, who will work under VP of Engineering Robert Lyons. Magnite's Chief Product Officer, Adam Soroca, emphasized the importance of first-party audience data in advertising, which the Nth Party team will help accelerate.
Magnite (Nasdaq: MGNI), the largest independent sell-side advertising platform, will present at the 24th Annual Virtual Needham Growth Conference on January 12, 2022, at 11:30 AM ET. The event will be available via a live webcast on Magnite's investor relations website, with a replay accessible for 180 days post-event. Magnite empowers publishers to monetize content across various screens and formats, with a strong presence in key global markets.