Disney's gradual withdrawal from Magnite, particularly concerning its DRAX platform, signals a notable shift in their advertising strategy that could impact Magnite's business model.
At the Digiday Publishing Summit, Disney's senior vice president of addressable sales indicated that they are no longer using Magnite for partnerships with key DSPs, which is a setback for Magnite.
Despite Disney's updates, several analysts suggest that the reaction from the market is an overreaction, as even removing Magnite from certain DSPs does not spell disaster for their long-term strategy.
Analysts from Benchmark and Craig-Hallum believe that the drop in Magnite's stock creates a buying opportunity, as the negative news about Disney's involvement was already anticipated.
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