AdTech Stock Magnite Gains as Disney Renews Key Deal, Expands ESPN and Podcast Offerings

Magnite, Inc MGNI stock got a boost from a deal renewal with Walt Disney Co DIS Wednesday.

The two companies extended their deal for another two years, marking six years of collaboration.

Magnite remains Disney’s preferred supply-side technology partner, enabling the monetization of ad-supported content across its entire portfolio.

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Magnite facilitates transactions with over 30 demand-side platforms (DSPs) for Disney and plans to expand globally.

Jamie Power, SVP of Addressable Sales at Disney. “Magnite plays a critical role in allowing buyers to access Disney’s inventory by connecting to more than 30 demand-side platforms in the US and starting to expand globally.”

As part of the renewed partnership, Disney will use Magnite to execute one-to-one deals through its ClearLine offering, monetize College Football live streams on ESPN, expand into Latin America, and offer podcast inventory for ESPN and ABC News.

Sean Buckley, Chief Revenue Officer at Magnite: “In addition to our role in enabling Disney’s programmatic transactions, we’re actively innovating in new areas like live streaming to bring added value to our partnership.”

Disney remains committed to its streaming ambitions, raising the prices of its Disney+ and Hulu services.

It also prompted subscribers to bypass Apple Inc’s AAPL App Store while subscribing to its streaming services to avoid the hefty charges.

Disney’s streaming division reported an operating profit of $47 million in the third quarter, marking its first profitable quarter versus a $(512) million loss a year ago.

Magnite stock surged over 86% in the last 12 months. DIS is up over 16%.

Price Actions: MGNI stock is up 2.11% at $12.33 at the last check on Wednesday. DIS stock is down 0.17% at $96.58.

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