Magnite Remains Unbothered By The Trade Desk’s SSP Policies
Magnite says it’s not mad at The Trade Desk for prioritizing OpenPath or labeling all supply-side platforms as “resellers.”
Magnite says it’s not mad at The Trade Desk for prioritizing OpenPath or labeling all supply-side platforms as “resellers.”
On Tuesday, Magnite announced it had acquired Streamr.ai, which specializes in developing AI-generated assets for small businesses to use in their CTV campaigns.
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.
When it comes to third-party cookies on Chrome, Google’s plan to reverse course is neither here nor there, says Magnite CEO Michael Barrett. “Forget Privacy Sandbox,” Barrett said. “That thing was dead upon arrival.”
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.
For Magnite, the biggest growth opportunity lies in supply-path optimization. The trade-off is the pressure to differentiate itself from other supply-side platforms competing for agency deals.
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%.
CTV contributed $52.5 million to Magnite’s Q3 earnings, actually declining 6% from $56 million at the same time last year. CTV comprised 39% of overall revenue this quarter, compared to 41% for mobile ads and 20% for desktop ads.
Magnite’s still enamored of CTV. CTV’s contribution to Magnite’s revenue was up 8% YOY, from $52 million to $56 million.
Supply-side platforms are under intense pressure to prove unique value or hit the chopping block. And Magnite is using connected TV as its competitive edge.
Magnite’s quarterly revenue was up 11% year-over-year in Q3, with a large chunk of its growth coming from streaming. Growth guidance is conservative for next quarter, but Magnite expects AVOD inventory and retail media to become bigger growth drivers for its bottom line.
Magnite reported 20% year-over-year growth with $137.8 million in revenue for Q2. And its CTV business alone grew by more than double that number (52%). It’s a plateau compared with last quarter’s growth, but Magnite has strong hopes for CTV’s burgeoning programmatic ecosystem.
Integral Ad Science CEO Lisa Utzschneider, Magnite CEO Michael Barrett and DoubleVerify CEO Mark Zagorski talked about their experience heading public companies at AdExchanger’s Industry Preview Tuesday, in a panel moderated by LUMA CEO and founder Terence Kawaja.
Here’s today’s AdExchanger.com news round-up… Want it by email? Sign up here. Staff Cuts Magnite is laying off about 6% of its staff following its $1.17 billion acquisition deal with video supply-side platform SpotX, Adweek reports. Buying SpotX is part of Magnite’s CTV growth plan, after already taking on Telaria. Though the acquisition nearly doubled […]
Here’s today’s AdExchanger.com news round-up… Want it by email? Sign up here. Aprés-Zagorski Mark Zagorski is leaving Rubicon Project at the end of June, the company announced on Thursday. It’s hardly surprising. Zagorski was CEO of Telaria before its absorption by Rubicon, and he has been COO and president since then. “Thanks to Mark’s leadership, we […]
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Welcome to AdExchanger Talks, a podcast focused on data-driven marketing. Subscribe here. Rubicon Project’s new CEO, the storied Michael Barrett, comes into the studio for the latest episode of AdExchanger Talks. And he doesn’t disappoint, talking in-depth about the company’s roadmap and fee structure. Barrett has known Rubicon Project since its inception 10 years ago, when […]
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Amidst the mayhem of the current AdMonsters Publisher Forum in New Orleans which brings together ad operations professionals and their ad technology vendors comes news! AdMeld, led by CEO Michael Barrett and founders Ben Barokas and Brian Adams, has released a new tool for client publishers. AdMeld‘s FireMeld enables the ad operations team of web […]