Plex Sees YoY Triple-Digit Percentage Growth Through Both Magnite and SpringServe
NEW YORK, March 09, 2022 (GLOBE NEWSWIRE) -- Magnite (NASDAQ: MGNI), the world’s largest independent sell-side advertising platform, today announced that Plex, the global ad-supported streaming media platform for all your favorite free movies, TV, and entertainment, has named Magnite as a preferred SSP and SpringServe as their primary ad server following impressive year over year revenue and user growth across both platforms.
Plex has always catered to at-home media enthusiasts, but with the proliferation of streaming platforms over the past several years, has turned its efforts toward the growing market of cord cutters with the launch of a low-cost streaming TV service as well as an expansion into free, ad-supported streaming through its live TV service. Magnite's depth of industry relationships and built-for-video technology play an important role in helping Plex to grow its ad-supported business and realize its ambitions to become a central platform for all media.
“Having Magnite and SpringServe in our corner for the past several years has been key to the tremendous growth of our ad-supported business, particularly over the last 6 to 9 months,” said Harold Morgenstern, CRO at Plex. “With the CTV landscape becoming increasingly saturated, it’s been critical for us to have access to their knowledgeable teams and video-first technologies that afford us to deliver full transparency to our ad partners and maintain the higher quality brand-safe viewing experiences CTV offers.”
Magnite’s dedicated CTV platform provides greater access to premium inventory and technology that improves the ad experience in a full-screen video environment, while SpringServe’s leading video ad serving capabilities provide greater insight, transparency and control into available supply. Plex benefits from the aligned technical relationship between Magnite and SpringServe, and their foothold across both platforms allows them to manage yield outcomes more holistically while also retaining a premium experience for the end viewer.
“Plex is at the forefront of both the FAST and AVOD landscape with over 200+ channels and 50,000 titles fully poised to take advantage of the accelerated growth of this ad supported sector of streaming. We’re delighted to continue our relationship with Plex and help them grow their ad-supported business,” said Mike Laband, SVP, CTV at Magnite. “The results thus far speak for themselves and we look forward to the continued upward trajectory of our collaboration.”
“We’re excited that Plex has chosen the SpringServe ad server to bring high quality advertising experiences to its viewers,” said Chris Signore, VP, Partnerships at SpringServe. “We look forward to our expanded relationship with the Plex team as we continue our journey together to enhance their ad-supported supply and capture more demand to help accelerate their growth.”
About Magnite
We’re Magnite (NASDAQ: MGNI), the world’s largest independent sell-side advertising platform. Publishers use our technology to monetize their content across all screens and formats including CTV, online video, display, and audio. The world's leading agencies and brands trust our platform to access brand-safe, high-quality ad inventory and execute billions of advertising transactions each month. Anchored in bustling New York City, sunny Los Angeles, mile high Denver, historic London, and down under in Sydney, Magnite has offices across North America, EMEA, LATAM, and APAC.
About Plex
For fans of movies and shows who are overwhelmed by the chaos of the fragmented streaming universe, Plex provides a more personalized and intuitive experience with a suite of free, easy-to-use, powerful, and beautiful apps for every platform. A global streaming platform that offers thousands of free movies and TV shows on-demand as well as hundreds of free-to-stream live TV channels, Plex has partnered with some of the biggest names in entertainment, including Paramount, Lionsgate, Metro Goldwyn Mayer (MGM), Sony Pictures Television, Sinclair Broadcast Group, AMC, A+E, and Crackle. Backed by Intercap and Kleiner Perkins, Plex is the only streaming service that lets users integrate their own personal media collections with a continuously growing library of free third-party entertainment spanning virtually all genres, interests, and languages. For more visit https://plex.tv, follow @plex on Twitter, or find us on Facebook and Instagram.
About SpringServe
SpringServe, now part of Magnite, is the leading independent TV ad serving platform, purpose-built for OTT, CTV and video advertising. Its software offers a full stack of ad serving, optimization and automation solutions that make video ad serving smarter across devices. Trusted by leading publishers & advanced TV distributors, its platform delivers control, transparency, and analytics to increase ad performance and revenue from media sales. For more information, visit http://www.springserve.com.
Media Contact:
Megan Hughes
mhughes@magnite.com
203-979-4806
