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.
Disney and Magnite have announced a two-year deal extension, continuing their partnership into its sixth year. Magnite remains Disney's preferred supply-side technology partner, facilitating transactions for 30+ DSPs across Disney's ad-supported inventory. The expanded relationship includes new initiatives such as monetizing College Football live streams on ESPN, supporting LATAM expansion in six countries, and offering podcast inventory via PMPs. Disney emphasizes the importance of automation and executional ease, with Magnite playing a important role in connecting buyers to Disney's inventory through their ClearLine offering.
Magnite (Nasdaq: MGNI), the world's largest independent sell-side advertising company, has announced it will release its financial results for the third quarter ended September 30, 2024 after market close on Thursday, November 7, 2024. The company will host a conference call at 1:30 PM (PT) / 4:30 PM (ET) on the same day to discuss the results and outlook.
For those interested in participating, the following options are available:
- Toll-free number (domestic): (844) 875-6911
- Direct dial (international): (412) 902-6511
- Passcode: Ask to join the Magnite conference call
- Audio webcast: http://investor.magnite.com, under 'Events and Presentations'
A conference call replay will also be available with the passcode 9464892.
Magnite (NASDAQ: MGNI), the world's largest independent sell-side advertising company, has successfully repriced its $364 million senior secured term loan facility. The repricing reduces the interest rate by 75 basis points to Term SOFR + 3.75% from the previous rate of Term SOFR + 4.5%. This represents a cumulative reduction of 125 basis points compared to the rate prior to the February refinancing. The Term Loan's maturity remains unchanged at February 2031, and all other terms are substantially the same. This repricing is expected to result in over $2.7 million in yearly interest payment savings for Magnite. The company's convertible notes due March 2026 and undrawn revolving credit facility maturing in February 2029 are unaffected by this repricing.
Magnite (NASDAQ:MGNI), the largest independent sell-side advertising company, has announced a partnership with TF1 PUB, France's leading video advertising network. This collaboration aims to streamline access to TF1's programmatic demand and support the broadcaster's digital acceleration. TF1+, the leading free French streaming platform with 35 million monthly streamers, will leverage Magnite's technology to optimize programmatic advertising while maintaining viewer experience integrity.
Magnite will integrate into TF1 PUB's existing advertising stack, utilizing its Magnite Streaming platform and international agency relationships to unlock demand. This partnership is expected to strengthen TF1's position in the French streaming market and support its growth in streaming and CTV (Connected TV) advertising.
Blitz, a leading gaming analytics platform, has chosen Magnite (NASDAQ: MGNI) as its preferred SSP to streamline its programmatic advertising strategy. This decision follows a successful partnership that saw Blitz's gross revenue grow triple-digit percent on Magnite's DV+ SSP in the first half of 2024. By centralizing all programmatic deals through Magnite, Blitz aims to provide advertisers with more efficient access to its diverse audience across multiple countries.
Blitz offers real-time insights and improvement tools for popular games like Fortnite, League of Legends, and Valorant. The platform serves millions of engaged gamers worldwide and is recognized as the top source of diverse-owned media according to Jounce Media's analysis. This collaboration allows Blitz to focus on core product development while leveraging Magnite's expertise in advertising monetization.
Magnite (Nasdaq: MGNI), the largest independent sell-side advertising company, has announced its participation in several upcoming financial conferences. The executive team will host in-person investor meetings at five events in New York City and one in San Francisco throughout September 2024.
Key events include:
- BofA Securities 2024 Media, Communications and Entertainment Conference (Sept. 4)
- Benchmark 2024 Tech, Media & Telecom Conference (Sept. 5)
- Citi 2024 Global TMT Conference (Sept. 6)
- Wolfe Research TMT Conference 2024 in San Francisco (Sept. 10)
- B. Riley 7th Annual Consumer & TMT Conference (Sept. 12)
- Lake Street 8th Annual Best Ideas Growth Conference (Sept. 12)
A live webcast of the BofA Securities fireside chat will be available on Magnite's investor relations website, with a replay accessible for 90 days after the event.
TargetSmart, a leading provider of political data for Democratic campaigns, has announced an exclusive partnership with Magnite (NASDAQ: MGNI), the largest independent sell-side advertising company. This collaboration, supported by Magnite's integration with Snowflake AI Data Cloud for Media, allows Democratic campaigns, agencies, and causes to activate campaigns using TargetSmart data across Magnite's extensive CTV footprint on any demand side platform.
Magnite, which ranks #1 in supply coverage according to Jounce Media, provides access to over 90% of programmatic supply in the US and reaches 92 million US ad-supported streaming TV households. With CTV ad spending forecasted to collect 14% of the total $10.7 billion ad spend this year, this partnership aims to provide a streamlined way for political buyers to execute and optimize their campaigns, potentially resulting in higher match rates and faster deal setups.
Magnite (NASDAQ: MGNI), the world's largest independent sell-side advertising company, reported strong Q2 2024 results. Total revenue grew 7% year-over-year to $162.9 million, while Contribution ex-TAC increased 9% to $146.8 million. Notably, CTV Contribution ex-TAC rose 12% to $63.0 million, exceeding guidance. The company reported a net loss of $1.1 million, a significant improvement from the $73.9 million loss in Q2 2023. Adjusted EBITDA grew 20% to $44.7 million, with a 30% margin. For Q3 2024, Magnite expects total Contribution ex-TAC between $146-150 million, with CTV growth accelerating to 18-22% year-over-year. The company reaffirmed its full-year 2024 guidance, projecting at least 10% Contribution ex-TAC growth and mid-teens Adjusted EBITDA growth.
Magnite (NASDAQ: MGNI), the world's largest independent sell-side advertising company, has introduced automated wrapper management within Demand Manager to help publishers increase revenue and efficiency. This new feature, built on Prebid technology, uses machine learning to optimize configurations in a publisher's Prebid Wrapper per impression, potentially enhancing billions of settings.
Ranker, an early adopter, saw a 5% increase in spend after implementing the automated wrapper management feature. The tool adjusts Prebid settings on an ad request basis, maximizing revenue while saving time and resources. Demand Manager has experienced significant growth, with a 30% increase in spend year-over-year from 2023 to 2024. Major publishers like Buzzfeed and Disney use Demand Manager, with 13 of the top 50 Comscore ranked publishers relying on it for Prebid inventory management.
Gracenote, Nielsen's content data unit, is enhancing CTV advertising by introducing new contextual categories powered by program-level metadata. Partnering with Peer39 and Magnite (NASDAQ: MGNI), Gracenote's data will be available on DSP platforms for programmatic CTV ad buys. Publishers like Cineverse, DIRECTV Advertising, Philo, Tastemade, and Xumo can now use Gracenote Contextual Video Data to provide more transparency for media buyers.
This initiative aims to optimize targeting and deliver incremental reach, making Gracenote's metadata the common taxonomy for CTV marketplace transactions. The data offers unprecedented granularity for programmatic ad buys, allowing publishers to package ad inventory more effectively and advertisers to reach target audiences at scale. This collaboration is expected to improve CTV advertising outcomes and create a stronger ecosystem benefiting advertisers, publishers, and consumers.