CTV contributed $52.5 million to Magnite’s Q3 earnings, actually declining 6% from $56 million at the same time last year. CTV comprised 39% of overall revenue this quarter, compared to 41% for mobile ads and 20% for desktop ads.
Magnite’s still enamored of CTV. CTV’s contribution to Magnite’s revenue was up 8% YOY, from $52 million to $56 million.
Supply-side platforms are under intense pressure to prove unique value or hit the chopping block. And Magnite is using connected TV as its competitive edge.
Magnite’s quarterly revenue was up 11% year-over-year in Q3, with a large chunk of its growth coming from streaming. Growth guidance is conservative for next quarter, but Magnite expects AVOD inventory and retail media to become bigger growth drivers for its bottom line.
