Sydney, Australia – Magnite (NASDAQ: MGNI), the largest independent sell-side advertising company, today announced the acquisition of Streamr.ai, a company specializing in AI tools that create connected television (CTV) ads that allow access to small and medium-sized businesses (SMBs), a massive, growing revenue opportunity for CTV publishers. Magnite provides Streamr.ai technology to Ecosystem Partners working with SMB, including agents, retail media networks, publisher buyer marketplaces, and DSPs. The financial conditions for the transaction have not been disclosed.
“The opportunities for CTV advertising for small businesses are enormous, but bottlenecked by complexity and high costs,” said Michael Barrett, CEO of Magnite. “Streamr.ai's technology uses AI to accelerate this transition for SMB, making tasks like CTV Creative Generation and campaign setup much easier. By providing these tools to ecosystem partners with SMB clients, we aim to unlock important revenue opportunities for CTV Publishers.
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Streamr.ai co-founder and CEO Jonathan Moffie – WURL (acquired by Applovin), product leads from Orkatv, Yahoo and Shutterstock, and Cto Frank Turano, formerly an engineer at Shutterstock and Dotdash Meredith, joining Magnite.
“Magniit is the perfect home for our technology and talent,” said Jonathan Moffie, CEO and co-founder of Streamr.ai. “Magnite shares our vision to help small businesses increase revenue through CTV ads, and our relationships and resources can help accelerate that process.”
Magnite's acquisition of Streamr.ai will create exciting opportunities to leverage AI to expand CTV ads, enhance cutting-edge technology for company partners, and continue to promote the long-term value of publishers and the broader ecosystem.
About Magniit
We are Magnite (NASDAQ: MGNI), the world's largest independent sell-side advertising company. Publishers use our technology to monetize content across all screens and formats, including CTV, online video, displays, audio and more. The world's leading agents and brands trust our platform to access brand-safe, high-quality advertising inventory and billions of ad transactions each month. Located beneath bustling New York City, Sunny Los Angeles, Mile Hey Denver, historic London, colorful Singapore and Sydney, Magniit has offices in North America, EMEA, LATAM and APAC.
About Streamr.ai
Streamr.ai specializes in building cutting-edge Genai technology. We provide innovative solutions for broadcasters, Adtech platforms and institutions to gain a larger share of CTV ad spending. Streamr.ai is the easiest way to generate video ads and launch them on CTV within 2 minutes. Streamr.ai For more information about Genai Solutions, visit Streamr.ai online.
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