Magnite ( MGNI Quick Quote MGNI - Free Report) has announced that it has been chosen as the preferred SSP to help Virgin Media's free ad-supported streaming TV (FAST) channels. Additionally, Virgin Media will leverage SpringServe, which is MGNI's ad-serving platform designed for OTT, CTV and video advertising. This partnership arrives during a significant transformation in the TV industry, driven by a surge in viewers consuming TV content via ad-supported streaming. According to a recent Magnite research, 82% of streaming audiences in the EU5 region are watching ad-supported content. Introduced in early August, Virgin Media's FAST channels provide high-quality content to numerous households across the U.K. These channels offer Virgin TV users a collection of streamed content that enhances their current free-to-air and Pay TV options. Virgin Media is utilizing Magnite's Streaming SSP to oversee and capitalize on its FAST inventory within Virgin TV. This involves specialized tools to support premium, high-quality viewing experiences and extended video content. SpringServe's ad-serving capabilities will provide Virgin Media enhanced insight, clarity and command, facilitating more effective and precise ad management for optimal video advertising encounters. MGNI’s Constant Innovation to Fend Off Competition
Magnite has been constantly innovating and integrating to stay ahead in a competitive market. These efforts have made MGNI one of the largest sell-side advertising companies in the market.
Shares of this Zacks Rank #3 (Hold) company have lost 21.5% year to date against the Zacks Computer and Technology sector’s rise of 39.2% due to tough competition from Google ( GOOGL Quick Quote GOOGL - Free Report) , Adobe ( ADBE Quick Quote ADBE - Free Report) and Microsoft ( MSFT Quick Quote MSFT - Free Report) . You can see . the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here Google Ad Manager is a substantial programmatic advertising platform that operates on the supply side to monetize content for publishers. The notable advantage of Google Ad Manager lies in its ease of use for publishers, enabling them to seamlessly establish and display advertisements. Adobe Advertising Cloud excels in various ad formats, such as connected TV, video, display, native, audio and search campaigns, presenting advertisers with a comprehensive solution. With an emphasis on people-centric marketing and inventory control, it stands as an excellent resource for optimizing budget returns. Xandr, a Microsoft venture, provides both demand and supply services, acting as an ad exchange for diverse ad formats. Xandr's remarkable data capabilities empower advertisers to refine their purchasing strategies. It boasts a user-friendly interface, which is equipped with comprehensive tools for campaign optimization. Magnite delivers a variety of solutions, including programmatic advertising, header bidding and data management. The company recently introduced Clearline, a service designed for video advertisers, which presents high-quality video inventory to advertising agencies. MGNI recently revealed a technical integration with FreeWheel, a prominent global technology platform in the TV advertising sector. This integration aims to boost the capabilities of FreeWheel's technology users by providing them with a unified platform to access various demand sources. This includes both programmatic and direct transactions, thereby streamlining the process of managing and optimizing advertising demand. These constant innovations are expected to fend off competition as well as boost top-line growth in the upcoming quarters. The Zacks Consensus Estimate for MGNI’s 2023 revenues is pegged at $546.4 million, indicating a year-over-year decline of 5.31%. The consensus estimate for 2023 earnings is pegged at a profit of 52 cents per share, indicating a year-over-year decline of 18.7%.