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NEW YORK - ITN, a leader in automated activation technology for local TV, and Magnite (NASDAQ: MGNI), a prominent sell-side advertising firm with a market capitalization of $1.76 billion and impressive year-over-year revenue growth of 7.82%, have announced a pioneering partnership aimed at transforming the execution of local TV advertising by enabling programmatic transactions of live linear ads from local TV stations. According to InvestingPro analysis, Magnite’s strong financial health score and recent performance, including a 39.66% return over the past year, position it well for this strategic initiative.
This collaboration leverages ITN’s local linear Supply-Side Platform (SSP), which launched in late 2024, and Magnite’s SpringServe ad server. Together, they will offer real-time bidding and VAST workflows, allowing advertisers to purchase live local linear TV spots programmatically, in addition to streaming and online video buys. With annual revenue reaching $668.17 million and a healthy gross profit margin of 61.26%, Magnite demonstrates strong operational efficiency in its advertising technology solutions. The integration also features a bid multiplier to forecast impressions for one-to-many delivery channels, simplifying the addition of local linear to media plans.
Todd Watson, CEO of ITN, emphasized the significance of linear TV in advertising and expressed that the partnership with Magnite addresses the challenges of activation costs and complexities that previously marginalized linear TV in media plans. Matt McLeggon, SVP of Advanced Solutions at Magnite, highlighted the incremental reach and scale local linear TV offers digital advertisers and the value of connecting with wider audiences.
The initiative has already seen successful programmatic transactions with multiple Fox television stations, indicating a positive reception within the industry. Tom Fleming, SVP of Sales at Fox Television Stations, acknowledged the importance of adapting to new sales strategies and praised the platform for enhancing their competitiveness in the current media landscape.
ITN’s technology is designed to streamline campaign execution across broadcast, cable, and digital channels, while Magnite’s platform is trusted by leading agencies and brands for accessing ad inventory and executing advertising transactions.
This collaboration is poised to make the $21 billion local TV advertising market in the US more accessible and efficient for advertisers, providing a modernized approach to buying local TV ad space. InvestingPro analysis suggests Magnite is currently undervalued, with multiple analysts revising earnings estimates upward for the upcoming period. For detailed insights into Magnite’s valuation and growth potential, including 10+ additional ProTips and comprehensive financial metrics, explore the full Pro Research Report available on InvestingPro. The press release did not specify a launch date for the new programmatic solution, but the announcement marks a significant step towards integrating traditional TV advertising with digital efficiency.
For those interested in utilizing this technology, ITN has provided contact information for further inquiries. The partnership between ITN and Magnite reflects a shared vision for innovation in the advertising industry, promising a more seamless and efficient experience for advertisers and stations alike. This news is based on a press release statement from ITN.
In other recent news, Magnite Inc. reported strong financial results for the first quarter of 2025, with revenue reaching $156 million, surpassing the forecast of $142.29 million. This marks a 4% year-over-year increase, highlighting the company’s ability to capitalize on growing sectors such as connected TV (CTV), which saw a 15% contribution increase. Magnite’s adjusted EBITDA rose by 47%, reflecting improved operational efficiency, while the net loss improved to $10 million from $18 million a year earlier. The company provided guidance for the second quarter, expecting contribution ex-TAC between $154 million and $160 million.
Additionally, Magnite’s partnerships with major streamers like Netflix and Warner Bros. Discovery underscore its strong position in the CTV advertising market. The company remains optimistic about growth in CTV and programmatic advertising, although it maintains a cautious outlook due to potential economic uncertainties. Analyst firms have not issued any recent upgrades or downgrades for Magnite. The company’s focus on infrastructure efficiency and cost reduction has contributed to improved financial standing compared to the previous year.
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