Magnite Shares Gain On FuboTV Collaboration

Sports-first live TV streaming platform FuboTV Inc FUBO chose the sell-side platform Magnite Inc MGNI to serve as its preferred SSP.
The collaboration united two leaders in programmatic CTV coincided with the launch of the 2021 football season, as sports viewers and advertising dollars continue to migrate from linear TV to CTV.
Across Magnite's CTV platform, overall live sports impressions grew 73% Y/Y in 2020 and increased 26% in 1H 2021, ahead of the fall season sports surge.
Price Action: MGNI shares traded higher by 4.49% at $30.01 in the premarket session on the last check Tuesday.