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Tech magnite rubicon project spotx tv:

Tech magnite rubicon project spotx tv:

Los Angeles, 2023 (BUSINESS WIRE) —Magnite (Nasdaq: MGNI) closed its previously announced purchase of SpotX from RTL Group today. This makes Magnite the largest independent CTV and video advertising platform and strengthens the company’s abilities as more and more TV budgets move to digital.

Buyers and sellers have wanted a smaller, independent alternative to the big companies that dominate the CTV market right now for a long time. By combining Magnite and SpotX, this is now possible, and the company is in a better position to help its clients grow their businesses across CTV and all other formats, such as video, display, and audio.

Michael Barrett, president and CEO of Magnite, said, “The key to getting the demand our CTV and video clients need is to go big and reach as many people as possible.” ” By buying SpotX, we’ll be the world’s biggest independent source of highly sought-after CTV and video inventory. Two-thirds of our revenue now comes from the fastest-growing parts of the market, and as dollars from linear TV move to CTV, our biggest chance is still in front of us.

“We’re very happy to join the Magnite family.” “New streaming services are coming out every day, and advertisers want to connect with those audiences, so CTV viewing and the ecosystem around it are always changing,” said Mike Shehan, co-founder, and CEO at SpotX. “SpotX’s CTV business has grown a lot in the past year, and we think that this combination of resources will only help us do even better by giving our clients more value.”

Today, Magnite has the money, technical skills, and teams to speed up R&D and make it easier for programmers, broadcasters, platforms, and device manufacturers to make money off of their inventory. A+E Networks, AMC Networks, Crackle, Discovery, FOX, fuboTV, LG, Roku, Samsung, Sling TV, and Vizio are now clients of the new company.

The majority of the industry supports the acquisition.

Louqman Parampath, vice president of product management at Roku, said, “When SpotX and Magnite are combined, it will make a full advertising technology stack for both publishers and TV programmers.” ” As more and more TV ad dollars move from traditional TV to streaming, Roku, publishers, and ad buyers will be able to meet their programmatic advertising goals better with the help of Magnite. A free, scalable solution is also good for the health of the whole advertising ecosystem.

“The combination of Magnite and SpotX brings together two of CTV’s best technologies and teams,” said Jill Steinhauser, Senior Vice President, Ad Sales Revenue and Planning at Discovery. “CTV is going to grow quickly for the foreseeable future, so we’re excited to keep working with Magnite and take advantage of its expanded CTV capabilities.” This will set us up for huge success in this area.

Dan Callahan, FOX’s Senior Vice President of Data Strategy and Sales Innovation, said, “As advertisers continue to put money into multi-platform viewing environments, it’s more important than ever that we use programmatic to activate campaigns and make it easier to buy ads across the FOX portfolio.” “We’re excited to keep working with Magnite as it grows its CTV and OTT capabilities and scales through the purchase of SpotX.”

“As advertising and media continue to move toward digital and data-driven programmatic, we place the highest value on transparency and quality inventory.” Scott Keslar, senior manager of global programmatic purchasing at The Procter & Gamble Company, said the same thing. “Magnite knows and does all of these things. We think that the addition of SpotX to Magnite is a good thing that will help Magnite grow in the premium video and cable TV markets.

Tim Sims, Chief Revenue Officer at The Trade Desk, said, “CTV is still the fastest-growing channel in the world, and the technology that Magnite brings together makes it easier for advertisers to put ads on the biggest screen in the room.” “Advertisers are using digital media campaigns where they can see the full ecosystem of media buys across the open internet more and more, and it’s important for us to be at the forefront with companies like Magnite.”

Transaction Details

The final purchase price of the deal is made up of $640 million in cash and 12,374,315 shares of Magnite stock. Based on yesterday’s closing stock price, the total purchase price is about $1.14 billion.

Magnite is still aiming for run-rate operating cost synergies of more than $35 million, with more than half of the synergies coming in the first year of combined operations.

Magnite will talk about more details about the deal and how both companies did in Q1 2021 during its earnings conference call for Q1 2021 on Monday, May 10th.

See CEO Michael Barrett’s blog post to learn more about the strategy of the new company.

Forward-Looking Statements

Forward-looking statements may be made in this press release, such as statements based on or about our expectations, assumptions, estimates, and projections. Forward-looking statements are sometimes easy to spot because they use words like “may,” “might,” “will,” “objective,” “intend,” “should,” “could,” “can,” “would,” “expect,” “believe,” “design,” “anticipate,” “estimate,” “predict,” “potential,” “plan,” or the opposite of these words or similar words.

Forward-looking statements may include, but are not limited to, statements about the acquisition of SpotX and/or the expected benefits of that acquisition; the possible effects of the COVID-19 pandemic on our business operations, financial condition, results of operations, and the world economy; our expected financial results; our strategic goals, such as our focus on connected television (“CTV”), mobile, video, header bidding, Demand Manager, identity solutions, and other similar areas; and other similar statements.

The shift from linear TV to CTV as a way to watch videos; the introduction of new services; the effect of our traffic shaping technology on our business; the scope and length of our client relationships; the fees we may charge in the future; the business mix and growth of our CTV, mobile, video, and private marketplace services; sales growth; how our clients use our services; how we stand out from our competitors; our market share and leadership position in the industry; and the state of the market.

These statements are not guarantees of how well we will do in the future. Instead, they show what we think will happen in the future based on what we know now. They are based on assumptions and estimates and are subject to known and unknown risks, uncertainties, and other factors that could make our actual results, performance, or achievements materially different from what was expected or what was implied by forward-looking statements. These risks include but are not limited to: risks related to the achievement of anticipated synergies and the timing of those synergies; our ability to successfully integrate the SpotX business and realize the expected benefits of the acquisition; the severity, size, and length of the COVID-19 pandemic, as well as the effects of the pandemic and responses to the pandemic by governments, businesses, and individuals on our operations, personnel, buyers, sellers, and the GL; and the impact of the COVID-19 pandemic on the 

Our ability to keep and grow the supply of advertising inventory from sellers and to fill the extra space; the effect of a bad economy or uncertainty on the advertising market and our business. the freedom of buyers and sellers to spend and stock up on goods from sources of supply and demand that compete with each other; the ability of buyers and sellers to set up direct relationships and integrations; our ability to convince buyers and sellers to use our solution to buy and sell higher-value advertising and to expand the use of our solution by buyers and sellers using evolving digital media platforms, such as CTV; our reliance on large aggregators of advertising inventory; and the fact that CTV is dominated by a small number of large publishers who have a lot of negotiating power

Our ability to come up with new products and get them to market on time, as well as our ability to adapt to client needs and industry trends, such as the shift from linear TV to CTV, the growth of digital advertising from desktop to mobile channels and other platforms, and from display to video formats, and the introduction and market acceptance of Demand Manager; the uncertainty of our estimates and expectations for new products, and the possibility of lower take-up of those products our risk of running out of cash because of the COVID-19 pandemic or

Because we have to spend more money on technology to handle more transactions on our exchange and make new products; our ability to reach our growth goals with less money because of the cost-cutting measures we took; our ability to get more money if we need it; our limited operating history and history of losses; our ability to continue to grow into new geographic markets and increase our market share in existing ones; our ability to adapt well to changes in digital advertising; the rise of ad-blocking or cookie-blocking software; and our ability to make money

The use of programmatic advertising by CTV publishers; the effects, such as loss of market share, of increased competition in our market and the increasing concentration of advertising spending in a small number of very large competitors; the effects of consolidation in the ad tech industry; the actions of competitors and other third parties that can hurt our business; and our ability to differentiate our offerings and compete effectively to fight commoditization

We talk about many of these risks and other things that could cause actual results to be very different from what our forward-looking statements say they will be under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and elsewhere in filings we have made and will make from time to time with the Securities and Exchange Commission, or SEC, such as our Annual Report on Form 10-K for the year ended December 31, 2017.

These statements about the future are based on our best guesses and assumptions as of the date of the report in which they appear. We are not required to update any of these forward-looking statements or the reasons why actual results may differ significantly from expectations unless required by federal securities laws to reflect events that occur after the statements are made. Without limiting what has already been said, we will usually only give guidance when we report quarterly and annual earnings, with no updates in between. We may also speak at industry conferences or make other public statements without revealing important private information we have. Due to all of these unknowns, investors shouldn’t put too much faith in these forward-looking statements. When investors read this document, they should keep in mind that our actual future results could be very different from what we expect. All of the things we say about the future are qualified by these warnings.

About Magnite

We’re Magnite (NASDAQ: MGNI), the world’s largest independent sell-side advertising platform. Publishers use our technology to monetize their content across all screens and formats—including desktop, mobile, audio, and CTV. And the world’s leading agencies and brands trust our platform to access brand-safe, high-quality ad inventory and execute billions of advertising transactions each month. Anchored in sunny Los Angeles, bustling New York City, historic London, and down under in Sydney, Magnite has offices across North America, EMEA, LATAM, and APAC.


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