London, England, 4 July 2021, ZEX PR – The online advertising market is growing at a pace that is unprecedented. We see that soon the market will grow beyond the 1 trillion US dollars mark. It has been noticed that the pandemic has served as a catalyst for its growth and hence attracted a lot of attention from the investors.
There was a time when digital marketing was considered to be the least effective way to market products but now the tables have turned. Today, the digital advertising sector accounts for more than half of the total sum which is spent on marketing all over and this can be seen translating into huge amounts of revenue. A Canadian based technology firm, Magna, has said that the digital ad revenue for the last year was more than 500 billion US dollars. The work-from-home era has led to an enhanced increase in trust of users in the electronic payment methods which led the businessmen to prioritize internet-based offerings. The key driving force behind this all is the changed attitudes and behaviours of the customers and viewers who do not prefer TV anymore.
It has been seen that 63% of TV viewing has been shifted to streaming services. Now we are living in a time where technology has become a factor that is imperative for both growth and development. Keeping this in mind, the Financialcentre analysts have researched to pick one advertising stock for you which has shown incredible performance in the previous years. The expert analysts predict that the firm will outperform the previous records because of the economic reopening following the pandemic.
Magnite Inc is an online advertising firm which is based in Los Angeles, California. The American firm came into existence as a result of a merger between two firms Telaria and Rubicon project which took place last year. Formerly it was known as Rubicon Project which was founded in the year 2007, in the month of April by Mr Frank Addante, Craig Roah, Duc Chau and Jullie Mattern. The firm is trusted worldwide for providing tech solutions in order to automate not only the purchase but also the sale of the digital advertising inventory. Tons of connected television channels, website publishers, mobile applications and digital advertising inventory are happy customers of Magnite.
The firm has many subsidiary companies which continue sitting on a large market share themselves. Some of these are Shiny Inc., Chango, Telaria, SpotX, RTK.IO, INC, etc. The stature of any company can be evaluated by its competitors. Some of the top competitors of the company are Admixer, PubMatic, Adform and OpenX. The firm has been in its venture to expand and has acquired many companies since the time it was founded. Some of the prominent ones are OthersOnline which was acquired in 2009, next year they took possession of Site Scout in May and in October Fox Audience Network joined.
Till now the firm remains the largest sell-side independent advertising company. The public company which belongs to the online advertising industry has around 750 employees working day and night to help the manufacturers reach their target audiences. In the year 2019, the firm made a revenue worth 156 million US dollars. By the end of the pandemic, covid hit the globe and hence then the digital social platforms observed a significant surge in the number of users and the subsequent use so the company did fairly well in the following period. Even now the company is on its way to bring innovation. At the beginning of June the tvScientific which is a CTV buying and attributing firm said that they are on board with Magnite to produce a program that will connect the CTV publishers with TV buyer’s new class and this is going to be the first of its kind project.
The figures and statistics from all around the globe show that the viewer relies more on streaming services than TV and this remains one of the biggest reasons why marketers are showing a large and unprecedented interest in CTV advertising. The experts think that the new collaboration will help both the firms capture greater market share and will be successfully empowering a diverse set of advertisers.
According to the statistics, if an investor had invested in this stock last year, they must have made more than 400% by now. The current performance and the future plans of the administration of the firm make it a huge possibility that Magnite Stock will do great this year and get the investors high dividends. Although in the unpredictable stock’s world, nothing can be said with full conviction, most of the experts at Financialcentre think that there is a high chance of Magnite being a good buy. If you are someone who is into the advertising business, you should definitely consider looking into it.
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