iHeartMedia and Magnite Unify Access to Broadcast and Digital Audio, Providing Advertisers with a Direct Path to Premium Inventory
January 09 2024 - 8:00AM
Magnite (NASDAQ: MGNI), the largest independent sell-side
advertising company, and iHeartMedia, the number one audio company
in the United States, today announced the launch of a
first-of-its-kind marketplace that brings together iHeartMedia’s
broadcast radio, streaming radio and podcast assets for inclusion
in omnichannel programmatic media buys, providing the reach and
efficiency that advertisers are seeking from audio.
Built from a custom
implementation of Magnite’s SpringServe ad serving technology, the
marketplace enables advertisers to transact with a data-driven
approach via real-time-bidding across iHeartMedia’s vast broadcast
and digital audio inventory through a single activation
channel.
IHeartMedia reaches 90
percent of all US adults monthly with its broadcast stations alone
and its streaming radio and podcasts reach 57 million consumers
with high-quality ad-enabled content, the largest reach of any
digital audio company. Its leadership position in audio extends
across multiple platforms including more than 860 live local
broadcast stations, its iHeartRadio digital service available
across more than 250 platforms and 2,000 devices including smart
speakers, smartphones, TVs and gaming consoles, and podcasts as
the #1 podcast publisher in the world according to
Podtrac. “With today’s consumers spending a
third of their media time with audio, expanding programmatic’s
access to iHeart’s audio assets is imperative for the industry,”
said Brian Kaminsky, Chief Data Officer and President of Revenue
Strategies for iHeartMedia. “Not only are we expanding what role
programmatic can play for advertisers, we are also improving the
efficacy of their campaigns by allowing them to use real-time data
to message their audience in the most engaging way possible, in an
environment of trust and interest. We’re excited to expand our
partnership with Magnite because they have proven expertise in
programmatic and the ability to build technology fit for the unique
needs of audio advertising to take its place in
omnichannel.”
“Establishing more direct
connections within the advertising supply chain benefits both
publishers and buyers and we’re proud to build technology to
facilitate this for the largest media owners in the world like
iHeartMedia,” said Sean Buckley, Chief Revenue Officer at Magnite.
“We’ve worked closely with iHeartMedia to develop bespoke and
new-to-market solutions for podcast and audio. Consolidated paths
will continue to gain momentum and we look forward to continuing to
pave the way in this effort.”
“The premium audio
marketplace created by iHeart provides PMX clients with direct
programmatic access to scaled, high-quality audio inventory,” said
Jay Askinasi, CEO, PMX US and Chief Growth Officer, Publicis
Groupe. “As we expand our PMX Lift solution to connect across
platforms, including audio, it will be important to have this
combination of broadcast and digital assets and data to achieve
better efficiency, control and analytics and drive greater value
and insights for our clients.”
About
Magnite We’re Magnite (NASDAQ: MGNI), the world’s
largest independent sell-side advertising company. 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,
colorful Singapore, and down under in Sydney, Magnite has offices
across North America, EMEA, LATAM, and APAC.
About
iHeartMedia iHeartMedia, Inc. [Nasdaq: IHRT] is the
leading audio media company in America, reaching over 90% of
Americans every month. iHeart’s broadcast radio assets alone have
more consumer reach in the U.S. than any other media outlet; twice
the reach of the next largest broadcast radio company; and over
four times the ad-enabled reach of the largest digital only audio
service. iHeart is the largest podcast publisher according to
Podtrac, with more downloads than the next two podcast publishers
combined and has the number one social footprint among audio
players, with seven times more followers than the next audio media
brand, and the only fully integrated audio ad tech solution across
broadcast, streaming and podcasts. The company continues to
leverage its strong audience connection and unparalleled consumer
reach to build new platforms, products and services. Visit
iHeartMedia.com for more company information.
Media Contact:
Kar Yi Limklim@magnite.com
Investor Contact:
Nick Kormeluk nkormeluk@magnite.com
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