"CTV advertising was a bright spot for the ad-tech company. Revenue, excluding political advertising, from CTV grew more than 50% compared to last year. Revenue from omnichannel video, excluding political advertising, grew 21% year-over-year. PubMatic claims its partnership with artificial intelligence company Nvidia has resulted in processing that is up to five-times faster than traditional systems, making it a major factor in PubMatic's growth. The partnership puts the company "years ahead of [our] peers," said co-founder and CEO Rajeev Goel in a statement."
"PubMatic's earnings reflect a larger trend of ad-tech companies benefiting from how AI is driving more unified marketing campaign capabilities. In the quarter, the group of companies that includes The Trade Desk, LiveRamp, Magnite, PubMatic, Viant, DoubleVerify, IAS, MNTN and Nexxen, delivered average revenue growth of 13.5%, per a note from Madison and Wall shared with Marketing Dive. Growth on the ad-tech side of the equation is outpacing publishers' growth, which could be concerning, Madison and Wall noted. However, more dollars are being pushed through programmatic channels and ad-tech firms are keeping ahead of the game by selling data marketplaces, measurement products and campaign products that promise a more unified approach."
PubMatic reported third-quarter revenue of $68 million, beating analysts' expectations but down from $71.8 million a year earlier, which included $5 million in political advertising. CTV advertising showed strong performance, with CTV revenue excluding political ads up more than 50% year-over-year and omnichannel video revenue excluding political ads rising 21% year-over-year. PubMatic credited a partnership with Nvidia for processing that is up to five-times faster than traditional systems and called the partnership a major growth factor. Industry data show ad-tech companies averaging 13.5% revenue growth as AI enables more unified programmatic campaign capabilities and expanded data, measurement, and identity offerings.
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