Magnite Rides CTV Surge and Antitrust Remedies
Magnite sees significant growth in connected television advertising, driven by advertisers' adoption of programmatic buying. The company's Senior Vice President of Investor Relations, Nick Kormeluk, stated that Magnite has not incorporated potential benefits from Google antitrust remedies into its forecasts or guidance.
Kormeluk highlighted the importance of behavioral remedies, which could be implemented more quickly than structural remedies. He mentioned Prebid, an open-source software standard used by publishers, as a possible mechanism for providing advertising exchanges with simultaneous access to impressions and comparable auction data.
Magnite's second-quarter connected TV performance saw a 36% year-over-year increase in CTV contribution ex-TAC, representing 51% of the company's mix. Kormeluk attributed this growth to advertisers' increasing adoption of programmatic buying and Magnite's relationships with companies like Netflix, Warner, Roku, and Disney.