Magnite's profit rises 70% on streaming TV and US election ads.
Magnite's third-quarter net income rose 70% to $34.0m as streaming TV and US midterm political spending lifted its ad marketplace. Streaming TV now makes up 53% of contribution ex-TAC, the non-GAAP figure Magnite uses as its main revenue measure.
The sell-side ad tech company reported on 4 November. Revenue rose 14% to $204.2m and contribution ex-TAC grew 20% to $200.6m, above Magnite's own guidance of $188m to $192m. Contribution ex-TAC from streaming TV, which Magnite calls CTV, rose 39% to $105.4m, while DV+ (display, online video and mobile app) grew 5%. Adjusted EBITDA climbed 46% to $83.4m. Magnite says political spending came in at nearly three times its initial forecast; on the earnings call, as reported by PPC Land, it put the 2026 total above $40m against the $15m it had expected.
Chief executive Michael Barrett named Disney and ESPN, Fox and Tubi, LG Ads, Netflix, Roku, Skydance, Vizio and Walmart among the media owners where Magnite saw strong growth. Chief financial officer Brian Gephart put political money at roughly 9% of the CTV figure; PPC Land estimates CTV would still have grown about 26% without it. Barrett repeated a long-term aspiration of about 25% annual CTV growth over three to five years, roughly double what he described as low-teens growth for the industry.
Growth is set to slow next year as election spending falls away. Magnite's early outlook for 2027 points to contribution ex-TAC growth of about 10% on a reported basis, or more than 15% if political advertising is excluded. The call and filing detail here comes from PPC Land's reading; the headline figures are from Magnite's own release.
Magnite published Gulf streaming research covering Saudi Arabia, the UAE and Qatar on 2 November. Our read: its shift towards streaming TV mirrors where regional broadcasters and platforms are taking their own ad sales, so buyers in Saudi Arabia and the UAE should expect more CTV inventory sold programmatically through independent marketplaces.
Why it matters
Magnite's numbers show independent programmatic money moving to streaming TV rather than the open web, with US election spending flattering 2026 before growth slows.
Related trends.
Amazon's shopping agent takes orders by text, with ads in the replies
Amazon has started letting a small, invited group of US customers shop by text message with Alexa for Shopping, its AI shopping agent. Sponsored Products ads are set to appear among the options it texts back, Digiday reports.
Why it mattersAds are moving into the private chat where an AI agent shortlists products, leaving room for only a few brands per answer and raising new questions about what counts as an impression.
LEGO's global Holiday Workshop campaign leans on Daft Punk and UAE activations
The LEGO Group launched The LEGO Holiday Workshop, its global festive campaign, on 5 November. Made by its in-house Our LEGO Agency, it plays on the gift so good the giver wants to keep it, with store activations planned in the UAE.
Why it mattersA global brand is running its festive campaign through its in-house agency and leaning on store activations in markets like the UAE, a model Gulf retailers and franchise partners can borrow.
Bayut lets real users tell their own property stories
Bayut, the UAE property portal, has launched "Real Journeys with Bayut", a film series in which users talk to camera about renting, buying or investing, without scripts or pre-approved answers. The first two films feature Sarah Curtis and Mostafa Mourad.
Why it mattersA property portal bets on unscripted user films as a credibility play. No results are published yet, and the participants are Bayut's own users.