Magnite DV+

Display advertising is old and busted. Streaming CTV is the new hotness. Obviously, those aren’t the exact words Magnite CEO Michael Barrett used, but it’s pretty much what the numbers say.

The SSP is betting on the DOJ’s antitrust remedies, plus closer relationships with agencies, DSPs and mid-sized advertisers, to help it eat some of Google’s lunch.

Although the full revenue impact of Magnite’s exclusive SSP partnership with Netflix hasn’t hit yet, simply announcing the deal “created significant momentum for our business,” Magnite President and CEO Michael Barrett told investors.

Total ad spend from deals transacted through Magnite’s platform topped $5 billion for the full year, representing nearly 20% YOY growth, while full-year CTV ad spend was also up 20%.