Ad-tech firm Magnite acquired streamr.ai, an AI platform that automates ad creation, to unlock the connected TV (CTV) market for small and medium-sized businesses previously shut out by high costs and complexity.
Cracking the code: For decades, getting a commercial on TV was a costly affair. Streamr.ai was built to break that bottleneck, using AI to generate a video ad and launch a CTV campaign in what it claims is under two minutes.
The ecosystem play: Instead of building a self-serve portal to rival Google or Meta, Magnite will arm its existing partners—agencies, retail media networks, and DSPs—with streamr.ai's tools. The strategy is to funnel a new wave of advertisers to its publisher clients, which include many of the industry's biggest names in streaming.
The $100 billion prize: Magnite is chasing a huge market that has mostly been the domain of search and social giants. In 2023, SMBs in the U.S. represented nearly $100 billion in annual ad spend, according to analysis from StreamTV Insider.
Magnite is betting that by simplifying creative and access, it can finally give SMBs a viable path to television advertising and carve out a piece of a massive ad-spending pie long dominated by Big Tech. Magnite's President of Revenue, Sean Buckley, framed the deal as part of a mission to build a more "democratic and accessible" ecosystem. Meanwhile, streamr.ai CEO Jonathan Moffie took to LinkedIn to celebrate the acquisition, thanking his team and early adopters.
