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    MGNI   US55955D1000

MAGNITE, INC.

(MGNI)
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Magnite : FuboTV Selects Magnite as Preferred SSP

09/14/2021 | 08:01am EDT

NEW YORK, Sept. 14, 2021 (GLOBE NEWSWIRE) -- Magnite (Nasdaq: MGNI), the largest independent sell-side advertising platform, today announced that fuboTV (NYSE: FUBO), the leading sports-first live TV streaming platform, has selected Magnite to serve as its preferred sell-side platform (SSP).

Coinciding with the launch of the 2021 football season, this brings together two recognized leaders in programmatic CTV as the migration of sports viewers -- and advertising dollars -- continues to move from linear TV to CTV. Across Magnite’s CTV platform, overall live sports impressions grew 73% from 2019 to 2020 and increased an additional 26% in 1H 2021, ahead of the fall season sports surge.

“Following years of highly successful collaboration with Magnite, we are thrilled to officially welcome them as our preferred SSP,” said Diana Horowitz, SVP, Advertising Sales at fuboTV. “Magnite’s commitment to creating a streamlined programmatic experience has made them a highly valued partner to fuboTV and a true pioneer in the space, and we look forward to innovating with them as CTV continues to shape the future of the industry.”

CTV is fuboTV's most popular streaming platform, representing 94% of total viewing hours during the second quarter of 2021. As the football season kicks off this month, fuboTV expects CTV’s large screen environment will be its subscribers’ streaming device of choice.

As fuboTV’s preferred SSP, Magnite facilitates access to fuboTV’s highly sought-after CTV inventory, including 50,000 live sports events per year as well as 100 + premium sports, news, and entertainment channels for the entire household.

“Our OTT video tech stack and programmatic expertise allow us to deliver consistent results for today’s streaming leaders such as fuboTV. With more content than ever viewable through CTV, especially live sports and news, we’re in a great position to continue to grow alongside fuboTV and look forward to what we can accomplish together,” said Sean Buckley, Chief Revenue Officer, CTV at Magnite.

Additionally, advertisers are able to access fuboTV’s exclusive first-party addressable data to enable them to connect with its highly engaged, cord-cutting audience that can’t be reached through traditional television. Magnite’s robust CTV platform is purpose-built for long-form video and delivers seamless ad experiences fit for CTV, with the ability to manage the complexities of the programmatic OTT ecosystem.

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 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. In April 2021 we acquired SpotX to further enhance our CTV business and better help our clients in this rapidly growing market. Anchored in sunny Los Angeles, bustling New York City, mile high Denver, historic London, and down under in Sydney, Magnite has offices across North America, EMEA, LATAM, and APAC.

About fuboTV

With a mission to provide the world’s most thrilling sports-first live TV experience through the greatest breadth of premium content, interactivity and integrated wagering, fuboTV Inc. (NYSE: FUBO) is focused on bringing to life its vision of a streaming platform that transcends the industry’s current virtual MVPD model. fuboTV Inc. operates in the U.S., Canada and Spain. Leveraging its proprietary data and technology platform optimized for live TV and sports viewership, fuboTV Inc. aims to turn passive viewers into active participants and  define a new category of interactive sports and entertainment television. Through its cable TV replacement product, fuboTV, subscribers can stream a broad mix of 100+ live TV channels, including 74 of the top 100 Nielsen-ranked networks across sports, news and entertainment — more than any other live TV streaming platform (source: Nielsen Total Viewers, 2020). Subscribers can interact with fuboTV’s live streaming experience through predictive free-to-play games, which are integrated into select sports content. Fubo Gaming Inc., a subsidiary of fuboTV Inc., expects to launch Fubo Sportsbook, a comprehensive sports entertainment experience through sports betting, in Q4 2021, subject to obtaining requisite regulatory approvals.

Media Contact

Kar Yi Lim
klim@magnite.com
917-658-1994


Source: Magnite, Inc.

2021 GlobeNewswire, Inc., source Press Releases

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Financials (USD)
Sales 2021 420 M - -
Net income 2021 47,8 M - -
Net Debt 2021 514 M - -
P/E ratio 2021 130x
Yield 2021 -
Capitalization 3 403 M 3 403 M -
EV / Sales 2021 9,33x
EV / Sales 2022 7,20x
Nbr of Employees 569
Free-Float 86,8%
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Number of Analysts 9
Last Close Price 25,93 $
Average target price 47,80 $
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Managers and Directors
Michael G. Barrett President, Chief Executive Officer & Director
David Lavelle Day Chief Financial Officer
Paul Jason Caine Non-Executive Chairman
J. Allen Dove Chief Technology Officer
Katie Evans Chief Operating Officer
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