Group Black and Magnite team up to help Black-owned media scale their programmatic offerings.

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In a move to help Black-owned media scale their programmatic offerings, Group Black has teamed up with Magnite($NASDAQ:MGNI). The joint effort between the two companies aims to produce an increased revenue engine for these Black-owned brands, strengthening the value proposition for companies who choose to work within Group Black’s collective. This will give these brands more firepower to compete against larger, more established players in the space and open up new opportunities for growth.

Earnings

In the latest earning report of FY2022 Q2, MAGNITE earned 549.0M USD in total revenue, lost 93.4M USD in net income. Compared to previous year, 17.2% increase in total revenue, MAGNITE’s total revenue reached from 221.6M USD to 549.0M USD in the last 3 years. According to the report, the partnership will enable Black-owned media companies to “leverage Magnite’s technology, reach and expertise to drive more programmatic revenue.”

Price History

Overall, the news for MAGNITE stock has been positive as of late. However, on Wednesday the stock opened at $7.1 and closed at $7.0, down by 0.8% from its previous closing price. This could be due to a variety of factors, but it is worth keeping an eye on the stock to see if it continues to trend downwards.

VI Analysis

Company’s fundamentals reflect its long term potential, below analysis on MAGNITE are made simple by VI app. According to VI Star Chart MAGNITE has an intermediate health score of 4/10 considering its cashflows and debt, might be able to safely ride out any crisis without the risk of bankruptcy. MAGNITE is strong in growth, and weak in asset, dividend, profitability. MAGNITE is classified as ‘cheetah’, a type of company that achieved high revenue or earnings growth but is considered less stable due to lower profitability. High growth companies are deemed more volatile as they attempt to grow faster. Looking at Magnite’s fundamentals can give us some insight into its long-term potential. The company is strong in growth but weak in profitability, meaning it is classified as a “cheetah” company. Cheetah companies are those that have achieved high revenue or earnings growth but are considered less stable due to lower profitability. This makes them more volatile as they attempt to grow faster.

However, according to the VI Star Chart, Magnite has an intermediate health score of 4/10, meaning it should be able to safely ride out any crisis without the risk of bankruptcy.

Summary

The partnership will enable Black-owned media publishers to better monetize their inventory and access new demand partners through Magnite’s unified marketplace. The partnership is a natural fit given both companies’ shared commitment to diversity and inclusion. Black-owned media companies have long been underserved by the programmatic advertising ecosystem. The partnership will help to level the playing field and enable these publishers to better compete for ad spend.

The news of the partnership has been met with positive reaction from the industry. This is a big win for Black-owned media companies and a step in the right direction for diversity and inclusion in programmatic advertising.