A technology collaboration move led Magnite Inc. (NASDAQ: MGNI) to close Friday’s extended hours up 6.13% at $6.93. That came after MGNI stock fell -2.01% to close the regular trading day at $6.53.
Who will MGNI collaborate with?
The Black media collective Group Black, along with Magnite (MGNI), has announced a collaboration to help Black media scale their programmatic offerings. By partnering with Group Black, these Black-owned brands will be able to generate more revenue, while at the same time strengthening the value proposition for those companies working with Group Black.
Group Black’s goal is to open up more opportunities for Black-owned brands to scale at a rate greater than ever before by creating a more equitable media landscape. By combining the power of the Magnite platform with MGNI’s advertising technology that works across every channel and format – such as desktop, mobile, audio, and video – Black-owned publishers will be able to provide brands with scaled advertising solutions through Black-owned media.
With Group Black, minority-owned publishers have access to measurement systems that were previously not available to them. MGNI’s technology manages and monetizes omnichannel advertising for thousands of publishers around the world.
In collaborating with Magnite, Group Black aligns perfectly with one of its key missions, which is to facilitate the purchase of black-owned media. With Magnite’s technology and established relationships, Group Black can achieve its vision as the largest independent supply side platform.
How will MGNI proceed with the collaboration?
Group Black’s mission will be supported by Magnite (MGNI), which offers black-owned publishers a variety of programmatic technology and tools, including display, video, CTV, DOOH, and audio, to help them manage and scale their advertising strategies more effectively and efficiently. To help Group Black’s buying community create scaled packages, MGNI is working with publishers.