Magnite is the largest independent platform that helps companies such as Netflix and Disney monetize their advertising. The company, formed following a merger between Rubicon Project and Telaria in 2020, is benefiting from the changed landscape in the entertainment industry as bandwidth increased, content owners created on-demand libraries and ad technology evolved, Edwards said. "Connected television is the growth driver of the business, and it's about 44% of revenues. And this is basically the TV on your wall, which you stream content through," he said.
Magnite said today it has filed a lawsuit against Alphabet's Google unit in Virginia and is seeking monetary damages. Direct Harm It said in the lawsuit that Google's business of open-web display advertising has hampered growth and innovation in the sector for over 10 years, and that the tech giant's strategies "directly harmed" Magnite's operations. It added that it continues to face the consequences of Google's actions.