Supply-side platform Magnite today reported revenues of $60.7 million in the first quarter, with roughly one-third of that coming from connected TV.
Magnite is working to position itself as the leading sell-side CTV platform. It merged with Telaria last year and closed on its acquisition of SpotX in April, consolidating SSPs to create a scaled platform that can tap into more supply in the $11 billion CTV category.
“Our position as the leading independent CTV platform will allow us to better serve our clients in this fastest growing segment of the market, which we expect to take meaningful share from linear TV over the next several years,” said Michael Barrett, Magnite CEO.
Between the lines
Since the quarter ended on March 31, Magnite’s financial results do not include those of SpotX, since the acquisition