""We're often painted as the foil to The Trade Desk," Barrett said. "But I would say 99% of the stuff that Jeff [Green, TTD's CEO] does is brilliant, and we are so supportive of cleaning up the system." Of course, the fact that Magnite had quite a good third quarter helps smooth over any possible tensions that could have arisen."
"Revenue was up 11% year over year, from $162 million to $179.5 million, which Barrett said exceeded Magnite's expectations for the quarter. Audio was the fastest-growing format in DV+, which is Magnite's display and video business excluding connected TV. The DV+ segment overall generated $90.9 million in revenue after traffic acquisition costs, which translates to 7% YoY growth for the quarter, or 10% if you exclude political spending."
"Meanwhile, CTV generated $75.8 million at an 18% YoY growth rate of (or 25% excluding political), which was higher than expected. Driving significant growth As usual, Barrett name dropped several of " the industry's largest players, " crediting them for driving CTV growth in the quarter. He highlighted Netflix, Roku and Warner Bros. Discovery for their ongoing partnership with Magnite on the Netflix Ads Suite, the Roku Exchange, and WBD's new NEO platform, respectively."
Magnite reported Q3 revenue of $179.5 million, an 11% year-over-year increase that exceeded expectations. DV+ revenue after traffic acquisition costs reached $90.9 million, with audio as the fastest-growing format and DV+ up 7% year over year (10% excluding political). CTV revenue reached $75.8 million, up 18% year over year (25% excluding political), outperforming expectations. Partnerships with Netflix, Roku and Warner Bros. Discovery and private marketplace deals with agencies contributed to CTV growth. SpringServe was cited as a significant differentiator for publisher relationships. The company acquired Streamr.ai in September as an AI-related opportunity.
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