Magnite and LG Ad Solutions renew partnership, expanding programmatic capabilities for tailored advertising on connected TV platforms globally.
Quiver AI Summary
Magnite and LG Ad Solutions have renewed their global partnership, which has seen significant growth over the past two years, with LG's programmatic spend on Magnite’s Streaming SSP increasing by 103%. The collaboration will leverage Magnite’s SpringServe ad server to enhance ad experiences on LG’s webOS smart platform, allowing for highly tailored advertisements that improve viewer experience. Advertisers will also gain direct access to premium video inventory through Magnite’s ClearLine self-service solution, which will feature LG's proprietary first-party data and unique ad formats available on the LG Home Screen next year. Both companies are committed to further enhancing ad relevance and efficiency in the evolving landscape of connected TV advertising.
Potential Positives
- Renewal of the global partnership with LG Ad Solutions indicates strong collaboration and confidence in Magnite's platform, enhancing its market position in connected TV advertising.
- Substantial growth of 103% in LG Ad Solutions’ programmatic spend on the Magnite Streaming SSP suggests increasing demand and effectiveness of Magnite's advertising solutions.
- Introduction of new ad formats on the LG Home Screen marks a significant expansion into programmatic advertising capabilities, providing unique opportunities for advertisers.
- Enhancements to ad relevance and viewer experience through deeper integration of Magnite's ad-serving technology strengthen the value proposition for both advertisers and consumers.
Potential Negatives
- The press release highlights a reliance on a partnership with LG Ad Solutions, which may indicate potential vulnerability if the partnership experiences challenges in the future.
- While the renewal and growth are positive, the absence of specific details regarding overall financial performance or metrics related to Magnite's other partnerships raises concerns about the company's broader market position.
- The announcement does not detail competitive responses or how the partnership may impact Magnite's standing against emerging competitors in the advertising technology space.
FAQ
What is the purpose of the partnership between Magnite and LG Ad Solutions?
The partnership aims to enhance advertising capabilities across connected TV and cross-screen advertising through innovative ad experiences.
How has LG Ad Solutions' programmatic spend changed recently?
LG Ad Solutions’ programmatic spend has increased by 103% on the Magnite Streaming SSP over the past two years.
What new features will advertisers access through ClarLine?
Advertisers will be able to access premium video inventory, utilize LG's first-party data, and unique ad formats on the LG Home Screen.
How will this partnership benefit advertisers?
Advertisers can achieve greater efficiency, transparency, and control in their ad purchases, along with tailored audience reach through innovative ad formats.
What technology does LG Ad Solutions utilize from Magnite?
LG Ad Solutions leverages Magnite’s SpringServe ad server to power their advertising activations on the webOS platform.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$MGNI Insider Trading Activity
$MGNI insiders have traded $MGNI stock on the open market 29 times in the past 6 months. Of those trades, 0 have been purchases and 29 have been sales.
Here’s a breakdown of recent trading of $MGNI stock by insiders over the last 6 months:
- MICHAEL G. BARRETT (CEO) has traded it 5 times. They made 0 purchases and 5 sales, selling 450,000 shares.
- DAVID BUONASERA (CHIEF TECHNOLOGY OFFICER) has traded it 5 times. They made 0 purchases and 5 sales, selling 32,339 shares.
- AARON SALTZ (CHIEF LEGAL OFFICER) has traded it 3 times. They made 0 purchases and 3 sales, selling 16,000 shares.
- ADAM LEE SOROCA (CHIEF PRODUCT OFFICER) has traded it 3 times. They made 0 purchases and 3 sales, selling 24,087 shares.
- ROBERT F SPILLANE has traded it 2 times. They made 0 purchases and 2 sales, selling 37,500 shares.
- SEAN PATRICK BUCKLEY (CHIEF REVENUE OFFICER) has traded it 5 times. They made 0 purchases and 5 sales, selling 54,458 shares.
- BRIAN GEPHART (CHIEF ACCOUNTING OFFICER) has traded it 3 times. They made 0 purchases and 3 sales, selling 20,478 shares.
- DAVID DAY (CHIEF FINANCIAL OFFICER) has traded it 2 times. They made 0 purchases and 2 sales, selling 40,376 shares.
- KATIE SEITZ EVANS (CHIEF OPERATING OFFICER) sold 14,541 shares.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$MGNI Hedge Fund Activity
We have seen 150 institutional investors add shares of $MGNI stock to their portfolio, and 132 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- WELLINGTON MANAGEMENT GROUP LLP added 3,659,759 shares (+125.3%) to their portfolio in Q3 2024
- DRIEHAUS CAPITAL MANAGEMENT LLC added 2,669,069 shares (+356.9%) to their portfolio in Q3 2024
- BURGUNDY ASSET MANAGEMENT LTD. removed 2,457,031 shares (-100.0%) from their portfolio in Q2 2024
- MARSHALL WACE, LLP added 2,084,747 shares (+133.7%) to their portfolio in Q3 2024
- FMR LLC removed 1,742,123 shares (-31.6%) from their portfolio in Q3 2024
- NOMURA ASSET MANAGEMENT CO LTD added 1,726,861 shares (+inf%) to their portfolio in Q3 2024
- INTRINSIC EDGE CAPITAL MANAGEMENT LLC added 1,342,403 shares (+inf%) to their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
NEW YORK, Dec. 10, 2024 (GLOBE NEWSWIRE) -- Magnite (NASDAQ: MGNI), the largest independent sell-side advertising company, and LG Ad Solutions, a leader in connected TV (CTV) and cross-screen advertising, announced a renewal of their global relationship, spanning North America, APAC, and EMEA. The partnership achieved substantial growth over the past two years which saw LG Ad Solutions’ programmatic spend grow 103% on the Magnite Streaming SSP.
LG Ad Solutions is leveraging Magnite’s SpringServe ad server to power several new activations, including its webOS all-in-one smart platform. This combination delivers an all-in-one smart platform enabling the delivery of highly tailored ad experiences that align with viewers' preferences and improve the overall TV experience. This expanded capability within LG’s webOS ecosystem allows advertisers to reach audiences on a global scale through a highly immersive and seamless ad format.
Magnite and LG Ad Solutions are continuing their collaboration and connecting to high-quality demand sources to unlock efficiencies for buyers. Advertisers can now use Magnite’s ClearLine self-service solution to directly access and purchase premium video inventory with full transparency and control. Through ClearLine, they can apply LG’s proprietary first-party data to LG’s supply and will be able to utilize unique ad formats on the LG Home Screen in the first half of next year—marking the first time these formats are available in the programmatic ecosystem.
“Our partnership with Magnite has been essential in delivering high-quality, seamless ad experiences to our viewers, and this next phase brings even more potential,” said Kelly McMahon, SVP of Global Operations at LG Ad Solutions. “With the deeper integration of Magnite’s ad-serving technology across our CTV footprint, we’re enhancing ad relevance even further and enriching the connection between brands and their audiences.”
“We’re excited to embark on the next phase of our relationship with LG Ad Solutions and build on the great success we’ve achieved to date,” said Mike Laband, SVP of Platform Revenue at Magnite. “The LG team has been supportive of new ideas and testing new technology which is always a huge help when it comes to bringing novel solutions to market. We look forward to continuing to grow the partnership globally and raising the bar for ad-supported video advertising.”
About Magnite
We’re Magnite (NASDAQ: MGNI), the world’s largest independent sell-side advertising company. Publishers use our technology to monetize their content across all screens and formats including CTV, online video, display, and audio. 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 bustling New York City, sunny Los Angeles, mile high Denver, historic London, colorful Singapore, and down under in Sydney, Magnite has offices across North America, EMEA, LATAM, and APAC.
About LG Ad Solutions
LG Ad Solutions is a global leader in connected TV and cross-screen advertising, driven by our mission to create meaningful connections between brands and their audiences. With a vast network of award-winning LG Smart TVs worldwide, we offer advertisers and content creators unparalleled scale, reach, and personalized precision on the largest screen in the home.
Media Relations
Kar Yi Lim
[email protected]
Investor Relations
Nick Kormeluk
[email protected]
949-500-0003
