Magnite CTV Ad Revenues Up 51% In Q3, Sees Growth In D2C, Tech, CPG, Auto, Retail

Sell-side advertising platform Magnite says key advertising categories -- automotive, retail, technology, consumer product goods, and direct-to-consumer (D2C) marketers -- helped to grow overall connected TV revenue 51% in the third quarter.

CTV revenue grew to $11 million on a pro-forma basis versus the same period a year ago -- results that were released a week ago.

The third-quarter 2020 financial results represent the combined performance of Rubicon Project and Telaria -- companies that merged to form Magnite on April 1, 2020.

Looking specifically at three categories, technology marketers' advertising spend was up 176%, while direct-to-consumer (D2C) came in at 159% and consumer packaged goods (CPG) was 86% higher.

Magnite says eight of the company's top 10 demand-side platforms (DSPs) more than doubled connected TV advertising spend on Magnite's platform in the third quarter of this year.

A week ago, Magnite reported third-quarter revenue was up 62% to $61.0 million -- and up 12% on a pro-forma basis. Its net loss expanded to $10.5 million from $6.2 million.

Magnite says advertisers buying into CTV addressable deals -- which enable data-driven targeting -- grew two and a half times in the third quarter versus the same period a year ago.



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