Magnite Earnings
In Q3, Magnite’s CTV revenue fell 6% YOY to $52.5 million. CEO Michael Barrett believes CTV revenue will grow in 2024, despite a soft start for Q4. Travel was the strongest category, while retail, financial services and media/entertainment suffered due to actor strikes. SpringServe video ad server and ClearLine features should help boost CTV ad spend next year. Prime Video’s ad-support tier and live sports events are also expected to drive growth.
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