Why Magnite is Acquiring CTV Leader SpotX
Sellers have been calling for a scaled independent alternative to the giant companies that dominate the CTV marketplace. Magnite wants to be that alternative, and today we’re taking a major step towards that goal by entering into a definitive agreement to acquire SpotX.
When the deal closes in Q2 (subject to regulatory and other approvals), Magnite will be the largest independent CTV and video advertising platform while still serving our clients’ non-CTV needs across all formats including display, mobile, and audio. It will bring together the segment’s best technologies and teams at a time when linear advertising budgets are increasingly shifting to CTV.
Together, Magnite will have the financial resources, technical capabilities, and teams to accelerate R&D and deliver products and services that cater to a broader set of client needs, and make it easier for sellers to monetize their inventory wherever it is.
Additionally, integrating SpotX into Magnite will make it easier for agencies and brands to reach premium CTV inventory at scale, with standard features and a single, addressable pool of audiences. After the deal closes, some of the leading programmers, broadcasters, platforms and device manufacturers that will rely on us to sell their inventory will include Discovery, Disney/Hulu, Fox, Roku, Sling TV, Tubi, ViacomCBS, Vizio and Vudu.
Though our long-term intention is to combine Magnite and SpotX’s strengths into one platform, we want SpotX’s clients and partners to know that we’re committed to supporting them and serving their needs with minimal disruption after the deal closes. In the meantime, Magnite and SpotX will remain separate, and both companies will continue to operate independently.
If you want to learn more about the deal, please read the press release.