Magnite, the world’s largest independent omnichannel sell-side advertising company, has been selected as the preferred SSP to support Virgin Media’s free ad-supported streaming television (FAST) channels. Virgin Media will also leverage SpringServe, Magnite’s ad serving platform built for OTT, CTV and video advertising.
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The collaboration comes as the TV industry is undergoing a seismic shift as consumers increasingly watch TV content through ad-supported streaming. Recent Magnite research found that 82% of streaming audiences in the EU5 are watching ad-supported content and this number is expected to grow.
Virgin Media FAST channels, which launched at the beginning of August, deliver premium content to millions of households across the UK, offering Virgin TV customers a library of streamed content that complements its existing free to air and Pay TV offering.
Virgin Media is leveraging Magnite’s Streaming SSP to manage and monetise its FAST inventory on Virgin TV, with tools specifically built to support premium, long-form video and high-quality viewing experiences. SpringServe’s ad serving capabilities will offer Virgin Media enhanced insight, transparency, and control to enable more efficient and accurate management of advertising for more optimal video ad experiences.
“The consumer desire for engaging, premium, and free TV content that is easy to discover has catapulted the rise in FAST adoption,” said Sam Wilson, Managing Director of CTV, EMEA at Magnite. “Our collaboration with Virgin Media will help them to capitalise on this trend by enhancing the monetisation opportunities of their new FAST offering at scale.”
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“With the use of FASTs increasing exponentially, it’s imperative to have a premium ad experience in place to optimise the viewer experience,” said Leon Siotis, Head of SpringServe International. “Our collaboration with Virgin Media will help them to more effectively manage advertising and set them apart from the rest in terms of their premium ad offering.”
“The introduction of FAST on Virgin TV demonstrates our ambition for our user interface and set-top-box to remain as the go to place for all subscribers TV viewing and entertainment. Our collaboration with Magnite will enable us to enhance our FAST offering and continue to advance the viewing experience for our customers,” said David Bouchier, Chief TV and Entertainment Officer at Virgin Media O2.
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