Magnite reports 36% CTV growth amid director stock sale

Magnite, Inc. reported 36% growth in its connected television (CTV) advertising business during its latest quarter. Nick Kormeluk, the company’s senior vice president of investor relations, noted that demand is broadening to include small and medium-sized businesses (SMBs) and sports-focused advertisers.

Kormeluk highlighted that while the company is in the early stages of capturing growth from live sports and SMB advertising, the shift toward CTV offers significant potential. Magnite has recently expanded its involvement in sports advertising, including NFL inventory.

Separately, SEC filings show that Magnite director Douglas S. Knopper sold 37,337 shares of common stock on August 6 at an average price of $22.72, totaling approximately $848,000. The sale was conducted under a pre-arranged Rule 10b5-1 trading plan established in December. Following the transaction, Knopper retains 88,473 shares.