Magnite, Inc. (NASDAQ:MGNI) Q3 2023 Earnings Call Transcript

Michael Barrett: Yes. So, Tim, as we talked about the ideas and replace it it’s to provide publishers with an alternative to state-of-the-art — with state-of-the-art programmatic tools with using an ad server that was born for streaming and a platform that was born for streaming. And it’s had quite a bit of success and uptake. So, FreeWheel — a connection to FreeWheel just helps that piece of it. It used to be a little clue if you were a publisher, you used FreeWheel as your ad server, you wanted to use Magnite for your programmatic efforts, there was a bit of stitching together that fell on the publisher that created extra workload. Now, what you’re dealing with is just kind of the seamless integration that allows for a publisher that uses FreeWheel to choose to use Magnite as their programmatic partner with not having to lift a finger because it’s already integrated.

So, we have high hopes for that. Certainly, from a buyer standpoint, buyers that are creating these marketplaces on Magnite streaming are excited about that because it gives them access to all the publishers that may not be using a SpringServe ad server. So, yes, we think it’s a great deal for both companies. We’ve been talking with them for quite some time and happy we’re able to get it to the hoop.

Tim Nollen: Okay, great. Thanks a lot.

Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Michael Barrett for any closing remarks.

Michael Barrett: Thank you, Debbie. I would like to thank the Magnite team for their diligent effort required to deliver another strong quarter. I really like the business that we built and how well we’re positioned in both CTV and DV+. We remain hard at work delivering solid financial results, building more tech, growing share, and working vigorously with our partners to prepare for the growth that we all know lies ahead. We look forward to speaking with many of you at our upcoming investor events. Macquarie will host our post-Q3 meetings tomorrow. We have a busy conference schedule in November. We’ll be attending the Stephens Conference in Nashville on November 14th and 15th; the RBC Conference in New York on the 15th of November; the Craig-Hallum Conference in New York on November 16th.

And the Macquarie International Conference in Sydney on November 29th and 30th. We will be hosting an Evercore Bus Tour Meeting at our office in New York on November 29th. Nick will be participating in the Wolfe Research Conference in New York on December 7th, and marketing in San Francisco on December 20th. And a little further out, we will be participating in the Needham Conference in New York on January 18th. Thank you again for joining and have a great evening.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.