Magnite, a publicly owned US-based company founded in 2007 (through the merger of Rubicon Project and Telaria), employs approximately 720 people. Its primary business is providing a sell-side advertising platform focused on real-time bidding (RTB) and programmatic advertising solutions. The platform facilitates the monetization of publisher content across various digital media, including connected TV (CTV), online video, display, and audio. In 2021, Magnite acquired SpotX to strengthen its CTV capabilities. In 2024, the company's revenue was less than $1 billion.
Spotify expanded its programmatic ad partnerships with Google and Magnite on an unspecified date. This allows advertisers access to Spotify's logged-in users through a real-time auction, offering addressability and measurement capabilities. Separately, Spotify announced its new Spotify Ad Exchange (SAX) and named Magnite a global partner on an unspecified date. Magnite's SpringServe will integrate into SAX to facilitate omnichannel advertising across audio, video, and native display formats in various countries including the US, Canada, Europe, Australia, New Zealand, India, Singapore, Brazil, and Mexico. In Q4, Magnite's financial results underperformed estimates, contributing to an 18.9% average stock decline since earnings, although revenues slightly exceeded expectations. The advertising and marketing services sector experienced mixed Q4 results overall, facing disruption from AI and programmatic advertising.
Magnite offers 5 products in the ad tech industry. Magnite's product portfolio comprises of RTB and programmatic and premium video and CTV.
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Magnite's revenues were $668.2M in 2024. Caretta Research has split Magnite's revenue into 4 different product categories, the largest of which is supply side platform (SSP), which represents 75% of Magnite's revenue.
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Magnite's customers primarily consist of telecoms and entertainment Providers companies. Examples of Magnite's customers include Paramount Global, T-Mobile and Charter Communications. Magnite has commercial and technical partners like Omnicom Media Group, FreeWheel and Criteo.
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