Magnite: “Machine learning to increase efficiencies”
December 13, 2023
Independent sell-side platform Magnite has shared its 2023 trends and predictions for 2024 in programmatic advertising.
Rebecca Ackers, VP of DV+, EMEA at Magnite, commented: “Discussions around AI have continued to be fervent in the last year, however much of this has been focused on generative AI and content creation. In 2024, there will be more focus on businesses taking advantage of machine learning to increase efficiencies across the board. Take publishers, for example, who face countless yield management decisions on a daily basis, which leaves potential revenue on the table. Implementing tools and algorithms that leverage machine learning to help make decisions such as optimal price floors will go a long way in freeing up media owners’ time to pursue strategic decisions. Other ways we might see publishers implement machine learning include creative review automation, audience curation and impression forecasting.”
Pete Danks, VP of Product at Magnite, added: “Let’s start with the obvious – the deactivation of third-party cookies for 1 per cent of Chrome users begins this year. It’s small, but it’s the tip of a significant iceberg and like it or not, it is happening. Undoubtedly 2024 will see huge investment in, and development of, Privacy Enhancing Technologies (PETs), contextual classification, and a shift of power back to the publishers. Content will remain king but there will be a greater emphasis placed on content creators and their audiences. Publishers will be able to maximise their value through their first party data and increased efficacy in monetising their content. Meanwhile users will benefit from an online experience that still delivers personalised content without the use of third-party cookies available.
“Ultimately, this change shows that the industry can adapt and create a future that is mutually beneficial to publishers, brands and consumers,” concluded Danks.
Sam Wilson, Managing Director of CTV, EMEA at Magnite, commented: “Over the past year, we’ve seen ad-supported streaming TV continue to draw attention from viewers and advertisers. Continued adoption of FAST services and viewing on smart TVs introduce the possibility of new ad formats that complement the viewer experience. In 2024, we’ll see more advertisers exploring novel ways of engaging with audiences, for example through the home screen tiles on smart TVs. Within 2024, we will likely see the first large cable or satellite TV company move fully online. As an extension of this, we will see established broadcasters become aggregators of other streaming platforms via their own FAST services – allowing for more streamlined and efficient ad placement for advertisers.”
Julie Selman (pictured), SVP Head of EMEA at Magnite, offered: “Over the past year, we have rightly seen ESG and sustainability become a key focus for the advertising industry. This is not a flash-in-the-pan moment – as an industry we still have a lot of work to do in terms of driving change. In 2024, we will see the industry take crucial steps forward and establish more standardised ways by which to measure carbon emissions. The aim is to unite the whole ecosystem and provide a necessary starting point for every participant in the supply chain to understand where they stand and how they can improve. Without uniform measurement, measuring our progress as an industry will be challenging. The industry will also raise the bar on transparency standards regarding supply paths and campaign reporting. This will help reduce our collective environmental impact, with the additional benefit of ensuring more ad dollars make their way to publishers.”