MAGNA and OpenAP Partner for Data-Driven Video Capabilities; Magnite Opens New Office in India
MAGNA and OpenAP to Boost Data-Driven Video Capabilities
OpenAP and MAGNA announced a new partnership. The alliance will allow MAGNA to integrate directly with Acxiom to build and reach advanced audiences across data-driven video endpoints. OpenAP is a cutting-edge advertising firm that offers audience-based television campaigns scale and simplicity. MAGNA is IPG Mediabrands’ investment and intelligence division. The IPG Mediabrands network’s planning and investment engine, MAGNA, will now have the capability to target and distribute custom audiences across linear, digital, streaming, and programmatic channels using Acxiom data in a central manner through OpenAP. At the conclusion of a campaign, MAGNA will be able to compute cross-publisher and cross-platform reach and frequency.
Partnership for data-driven video capabilities
The alliance demonstrates MAGNA’s dedication to putting viewers first in the future of video advertising. MAGNA will receive actionable audience viewership data and key planning metrics throughout the campaign lifecycle by activating audiences with Acxiom data on OpenID, TV’s common identifier that powers the resolution of linear and digital audiences across publishers. This will give IPG Mediabrands clients a deeper understanding of viewership and eliminate waste and overlap in cross-platform campaigns across multiple currency workflow. OpenAP will provide MAGNA with end-to-end campaign forecasting for both digital and linear channels. This will give clients fresh and additional chances to distribute unexposed audiences to digital and CTV channels, increasing the reach and return on investment of their campaigns. Additionally, MAGNA will gain from having first-mover advantage in the cross-platform, cross-publisher clean room solution provided by OpenAP Data Hub in early 2024.
Timely alliance
The alliance is announced just in time for the 2025 Upfront. This is when advertisers will still have to deal with fragmentation in terms of identity, viewership, and new currencies. Moreover, the agreement is disclosed when TV networks attempt to sell the majority of their inventory of advertisements prior to the upcoming programming cycle. In order to provide clients of IPG Mediabrands with an objective perspective of planning insights and comprehensive campaign performance, independent of viewership currencies, the company has partnered with OpenAP to centralize audience onboarding, audience distribution, and post-campaign reporting.
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OpenAP partners
NBCUniversal, Fox Corp., Warner Bros. Discovery, and Paramount Global are a few of the companies that support OpenAP. The company wants to give advertisers access to specific consumer segments that are constant regardless of which company’s inventory is bought, as well as the ability to establish more easily comparable benchmarks.
Here’s what they said
Dani Benowitz, Global President, at MAGNA said,
Identity is the common denominator powering the industry’s transition to a multi-publisher, multi-platform, multi-currency advertising model. At MAGNA, we are committed to an audience-first strategy to deliver the insights and precision our clients need to maximize their investments. This partnership with OpenAP simplifies a complex process and gives the actionable data our team’s need in the planning stage to maximize our clients’ investments.
Abbey Thomas, Chief Revenue Officer at OpenAP stated,
Buyers have more choices than ever before going into the next upfront cycle with multiple new currencies and data sources, all while managing the complexities of fragmentation of audiences across publisher endpoints. By leaning into a common identifier to unify campaigns across publishers, platforms and currencies, MAGNA is modeling the way for how to navigate an incredibly complex media buying landscape and future-proofing their investments as we migrate to privacy-centric clean room technology with Acxiom in the OpenAP Data Hub.
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Magnite Opens New Office In India Expanding Global Presence
Magnite expands global presence with opening of first India office. Opening of a Mumbai location enhances support for publishers and buyers in market. The expansion marks Magnite’s commitment to supporting publishers and buyers in one of the fastest-growing digital advertising markets globally.
Expanding presence in India
The biggest independent sell-side advertising firm, Magnite, has revealed the launch of a new office in Mumbai. It will act as the organization’s headquarters for all of India. This move demonstrates the company’s dedication to helping buyers and publishers in one of the world’s fastest-growing digital ad markets. In order to assist streaming TV media owners in India in managing premium ad experiences throughout the video landscape, Magnite released new cutting-edge tools this year, such as Magnite Streaming and the SpringServe ad server. Strong market demand for these developments has driven an 185% increase in CTV ad spending in India year over year.
Management Roles
As part of its ongoing efforts to expand its workforce in India, Magnite most recently named Chandrahas Shetty as the lead for demand facilitation. Senior Account Manager Rohit Prasad Yeggina, Account Manager, Supply Jerit Kunjumon, and Senior Account Manager, Supply, Karnika Maroo are among the other members of the team. Together, they are committed to helping clients achieve their goals. They will do so by making sure they can take advantage of Magnite’s special omnichannel capabilities.
Here’s what they said
Gavin Buxton, Managing Director of Asia at Magnite said,
Programmatic adoption in India is forecasted to increase at a CAGR of 32% until 2027, according to Magna Global. Establishing a Magnite hub in Mumbai allows us to provide more hands-on support and help our clients navigate the changing market landscape. As advertisers continue to seek out the most comprehensive omnichannel ecosystem to reach their audiences, we’ll be able to more seamlessly connect them with the premium publishers we work with.
Read More: Amazon Ads and IPG Mediabrands Ink 3-year Deal for Upcoming Prime Video Ads
Amazon Ads and IPG Mediabrands Ink 3-year Deal for Upcoming Prime Video Ads
Amazon’s video advertising division is about to take off. To support the launch of Prime Video Ads next year, Amazon Ads and IPG Mediabrands have inked a three-year deal. When limited commercials for TV series and movies on Prime Video debut in early 2024, the partnership will use Prime Video Ads to connect brands with relevant audiences. With this new offering, IPG Mediabrands is the first media holding company to collaborate with Amazon Ads. The first countries where Prime Video Ads will be available are the United States, the United Kingdom, Germany, and Canada. Later this year, France, Italy, Spain, Mexico, and Australia will be added. In 2024, IPG Mediabrands will provide support to each of these nations.
Key features of Amazon Prime Video Ads
Along with first-look opportunities to test new models and ad formats, as well as content sponsorships in each region, Amazon Ads and IPG Mediabrands will work together to help brands incorporate global Prime Video audiences into their media strategies. With the help of Amazon’s first-party shopping and entertainment insights, IPG Mediabrands advertisers will be able to connect with and engage streaming audiences and generate relevant ad experiences for Prime Video viewers. Additionally, they will be able to use Amazon’s data and research regarding viewers’ viewing and shopping habits to guide their marketing strategies.
How will advertisers benefit from Amazon Prime Video ads?
In September, Amazon announced that Prime Video, one of the last popular streaming services to forgo putting frequent commercial breaks in its films and television series, would begin doing so early the following year. An estimated 115 million people in the US will see Prime Video ads each month. Amazon seeks to have noticeably fewer advertisements than other streaming TV services and traditional linear TV. Simultaneously, it will give advertisers reach, frequency, and the ability to customize their messages, . Currently, a $14.99 monthly Prime Video subscription is included in the $139 annual Prime Subscription. All Prime members will transition to an ad-supported model as part of the plan, but they can choose to continue watching Amazon Prime Video without advertisements for an additional $2.99 per month in the U.S.
The introduction of Prime Video’s ad tier has been eagerly anticipated by advertisers, especially because of the immediate and sizable audience it will provide. In contrast, other streaming services have had difficulty increasing the proportion of their user base that is ad-supported. To help them create relevant ad experiences for Prime Video audiences, advertisers through IPG Mediabrands will also benefit from Amazon’s insights. These are generated through its shopping and entertainment platforms.
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Competitors serving the ads in the streaming service market
Amazon is making a big advertising push now that several competitors have joined the market. This year, Netflix even tried an upfront sales model. However it has struggled to provide the volume of impressions that many large advertisers claim they require. Additionally, the executive team in charge of Netflix’s outreach to media buyers and marketers has been reorganized. Disney has also allowed advertisements on Disney+.
Amazon Prime – A one-stop destination for entertainment
Prime is a one-stop entertainment destination that offers customers a vast selection of premium entertainment in a single application. Customers can find all of their favorite films and television shows on Prime Video. It can be live sports, entertainment from Amazon MGM Studios and other studios, third-party channels that are available as an add-on subscription through Prime Video Channels. Moreover, they can also find movies and series that can be rented or purchased through the Prime Video store.
IPG Mediabrand’s wide range of iconic clientele
A division of Interpublic Group, IPG Mediabrands is responsible for media and marketing solutions. IPG Mediabrands oversees more than $47 billion in marketing investment globally on behalf of its clients. This is across its full-service agency network, UM, Initiative, Mediahub, and through its award-winning specialized business units, Healix, Kinesso, Magna, Mediabrands Content Studio, Orion Holdings, Rapport, and the IPG Media Lab. Among the many well-known and iconic brands in the world are those from IPG Mediabrands’ diverse portfolio of industry sectors, which includes automotive, e-commerce, direct to consumer and e-commerce, retail, hospitality, food and beverage, pharma, health and wellness, entertainment, financial services, energy, toys, and gaming. Some of their clientele are well-known marketers such as Johnson & Johnson, CVS, American Express, Mattel, Henkel, and General Mills.
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Here’s what they said
Eileen Kiernan, global CEO of IPG Mediabrands said,
Amazon’s latest offering brings a first-to-market opportunity for our clients to reach consumers at the category level in a comprehensive, scalable way—from culture and content to commerce and shoppable experiences. We are excited to play a role in this game-changing addition to the streaming TV marketplace and serve as Amazon’s anchor partner as they bring Prime Video ads to life.
Alan Moss, vice president of global sales for Amazon Ads added,
From our first conversations, IPG Mediabrands has leaned in so that their clients can be among the first brands to engage with the Prime Video streaming audience across the nine countries we’ll serve starting in early 2024. When we begin introducing limited ads into Prime Video shows and movies, Prime Video will be one of the largest premium ad-supported services in most countries where we operate. This means we can simultaneously offer brands unmatched reach and frequency to help them achieve their business goals.
Dani Benowitz, global president of MAGNA, the investment and intelligence arm of IPG Mediabrands stated,
As longtime partners of Amazon Ads, we are thrilled to participate in a global deal of this scale across all of the countries in which Prime Video ads will launch throughout 2024. The ability to access the entire Amazon streaming TV product suite is an added benefit for both endemic and non-endemic brands within our broad client portfolio.
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