Cox Media Group, Capitol Broadcasting, Graham Media Group and other broadcasters are participating. Magnite, an independent omnichannel sell-side advertising platform, will make CTV inventory available to agencies and programmatic buyers.
Connected TV has grown to the point where there are 55 million U.S. households that only watch CTV, according to a new study from Magnite. Those 55 million households mean that 40% of U.S. TV homes are reachable exclusively via CTV and not over the air or via traditional pay TV.
The deal creates the largest independent CTV and video ad platform. Clients include A+E Networks, AMC Networks, Crackle, Discovery, Fox, fuboTV, LG, Roku, Samsung, Sling TV and Vizio.
The combined companies will be a big player in the fast-growing programmatic connected TV marketplace. Combined, CTV net revenue would have been $42 million in the fourth quarter of 2020, up 34% from the third quarter, and represents 67% of their combined fourth quarter net revenue.
Three months after the acquisition of Telaria by Rubicon Project, the company is renaming itself Magnite and claiming that it operates the largest independent omnichannel sell-side platform in the industry, including expertise in the fast-growing connected TV space. The new company will adopt the Nasdaq ticker symbol MGNI effective July 1.
