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The Trade Desk, Inc. (NASDAQ:TTD) and Magnite, Inc. (NASDAQ:MGNI) shares moved higher Wednesday after Netflix, Inc. (NASDAQ:NFLX) said it will launch an in-house advertising technology platform by the end of 2025.
The Details:
Netflix hosted its second Upfront presentation to advertisers and said it has reached 40 million global monthly active users (MAUs) on its ad-supported plan with 40% of all signups in the ads countries now coming from the ads plan.
Netflix announced it will build an in-house advertising technology platform and expand its roster of buy-side programmatic partners beyond Microsoft this summer to include The Trade Desk, Google's Display & Video 360 and Magnite.
"We're being incredibly strategic about how we present ads because we want our members to have a phenomenal experience. We conduct deep consumer research to make sure we stay ahead of the competition, bringing opportunities that are better for members and better for brands," said Netflix President of Advertising, Amy Reinhard.
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TTD, MGNI Price Action: According to Benzinga Pro, The Trade Desk shares closed up 4.72% at $90.25 and Magnite shares closed up 8.41% at $9.80 Wednesday.
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