Magnite Partners with Western Union to Enhance Advertising
Magnite and Western Union Collaboration
In an exciting development within the advertising world, Magnite (NASDAQ: MGNI), a leading independent sell-side advertising platform, has established a partnership with Western Union aimed at enhancing the financial services company’s Media Network. This collaboration signifies a significant stride towards innovation in advertising, as Magnite equips Western Union with advanced technology that facilitates efficient media purchasing as an advertiser while maximizing revenue from its owned media assets.
Access to Premium Streaming Inventory
One of the standout features of this partnership is Western Union Media Network's pioneering use of Magnite's ClearLine solution. This tool empowers clients to directly purchase premium streaming inventory from publishers, thereby optimizing Western Union’s media budget and ensuring better returns on their advertising investments. Magnite boasts a reach of 92 million connected TV (CTV) households in the U.S., making it an invaluable partner as it represents 90% of ad-supported households within the country.
Enhancing Owned Media Monetization
Furthermore, Magnite provides tools that allow Western Union Media Network to capitalize on its owned media properties while taking advantage of first-party consumer insights. Through this integration, Western Union is not just advertising; they are monetizing various channels including their website and mobile applications, which boast an impressive reach of over 15 million U.S. customers. This capability will enable Western Union to expand its reach and engagement through targeted advertising efforts and promotions.
Leveraging Data for Superior Targeting
With the introduction of Magnite's Curator Marketplaces, Western Union Media Network unlocks the potential for self-serve audience extension, utilizing anonymized transaction data to tap into a multicultural audience. This sophisticated approach ensures that advertisers benefit from both Western Union's unique customer data and Magnite’s top-tier inventory. The resulting synergy allows for highly accurate targeting while simplifying programmatic workflows, ultimately leading to a more efficient advertising environment for brands and agencies alike.
Strategic Supply-Path Optimization Agreement
In addition to the aforementioned capabilities, Western Union and Magnite have solidified their alliance through a supply-path optimization (SPO) agreement. This agreement streamlines Western Union's access to a curated inventory that spans multiple channels, thereby enhancing the overall quality and effectiveness of their advertising strategies. Chris Hammer, the Senior Vice President of Western Union, expressed enthusiasm about this partnership: "Magnite’s expansive technology and service offerings make them a versatile partner that can help address our desire to grow our business."
Commitment to Innovation
Stephanie Reustle, Head of Commerce Media at Magnite, highlighted the importance of this partnership by stating, "We’re proud to support Western Union Media Network’s entry into advertising by helping them activate efficiently on all fronts. Our technology is delivering tangible value to clients as they explore new avenues in commerce media, strengthening connections between sellers and buyers across the industry." This collaboration showcases the ongoing commitment of both companies to leverage technology in innovative ways that transcend traditional advertising methods.
About Magnite
Founded as the world’s largest independent sell-side advertising company, Magnite (NASDAQ: MGNI) empowers publishers to monetize their content across numerous platforms including streaming services, online video, display advertising, and audio formats. With its robust technology, Magnite has become the go-to for leading agencies and brands seeking secure and high-quality ad inventory. The company operates offices in major cities worldwide, ensuring a global reach for its services.
About Western Union
The Western Union Company (NYSE: WU) is dedicated to empowering individuals globally to enhance their financial futures. Their extensive services in money movement, payments, and digital financial solutions span over 200 countries and territories. By providing access to bank accounts, digital wallets, and retail locations, Western Union strives to deliver essential financial services that foster prosperity for customers and communities alike.
Media and Investor Relations Contacts
For inquiries, please contact:
Kar Yi Lim
klim@magnite.com
Nick Kormeluk
nkormeluk@magnite.com
949-500-0003
Frequently Asked Questions
What is the purpose of the partnership between Magnite and Western Union?
The partnership aims to enhance Western Union's advertising capabilities by leveraging Magnite’s technology for efficient media purchasing and monetizing owned media.
How does Magnite help Western Union?
Magnite provides technology that allows Western Union to directly buy premium streaming inventory and monetize its digital properties effectively.
What is the ClearLine solution?
ClearLine is a tool that enables clients like Western Union to purchase premium streaming inventory directly from publishers, enhancing their media buying strategy.
What audiences can Western Union access through Magnite?
Western Union can tap into multicultural audiences using anonymized transaction data to enhance targeting and increase advertising effectiveness.
Where can I find more information about Western Union's services?
For additional information, visit the Western Union website at www.westernunion.com.
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