• Magnite, a leading independent supply-side ad platform, announced a strategic partnership with rlaxx TV, an ad-supported video-on-demand (AVOD) service available in 26 countries. 

• rlaxx TV provides an ad-supported streaming service available on 60% of smart TVs across 26 countries including Germany, Austria, Switzerland, the UK, and France. The service is also available on media streamers as well as iOS and android mobile devices. The app is free of charge, and a beta version is available on the web.

• As part of the partnership, rlaxx TV will utilize Magnite’s technology to manage its over-the-top ad inventory across its connected TV (CTV) and mobile app offerings. As a result, Magnite hopes to improve the efficiency and effectiveness of its advertising while growing its presence in the ad-supported streaming market in Europe.  

Analyst QuickTake: The new partnership is in line with Magnite’s objective of expanding its CTV offerings. In line with this, the firm had also entered into partnerships with original equipment manufacturers of smart TVs including LG and Samsung to expand the global reach of its solutions. Considering its past performance in Q2 2022, where Magnite reported strong revenue growth, supported by growth in CTV demand, Magnite is likely to maintain momentum in its upcoming Q3 2022 quarterly performance review.