RE: Brutal price action27 Aug 2023 01:19
My post from advfm
midasx re your...I find it somewhat unbelievable that the first quarter update details copied below were RNS'd on the 30 May 2023, only a month before the end of the second quarter.
How can the projections go so badly wrong within a month?
I’d guess that most have found the above difficult to reconcile but it seems that orders were either pushed out or completely pulled unexpectedly in June, right across the sector, and that was particularly evident in the managed side of the business. It doesn’t look like its recovered since, hence the lower 2H revenue and full year uncertainty. It’s worth reading the Q&A part of Magnite’s Conference Call., Although Magnite is purely an SSP there are a few answers that read-across into Tremor’s market sentiment.
https://investor.magnite.com/static-files/335bcc89-4d19-4f40-83ef-bd279c797634
Extract…Magnite…right now, in a pretty scarce spend environment, there's just kind of flight to quality, flight to security for the buyers and flight to like dealing with the folks they know best. And so that's -- hopefully, that helps you understand, Jason, what we saw.
This sort of confirms Drukers remarks that prospective new clients, especially on the DSP side, are in no mood for moving to another platform in this environment. That process is a slow and sticky one in the best of times. The legals can take months, never mind the move accross.
extract…Daniel Paul Day - B. Riley Securities, Maybe just talk about what's giving you the confidence here to give sort of a soft guide for the fourth quarter CTV revenue. We haven't seen people sort of willing to opine out beyond the current quarter. Is that -- I think you said close to flat year-over-year for the fourth quarter for CTV. Just definitely conversations with advertisers, publishers, just actual visibility at all? Just what is it that's informing that 4Q commentary?
Magnite…yes. I would say, first of all, it's a very cautious approach, but we have spent a lot of time with our sales team, getting feedback from the managed service team. Michael mentioned that some of those campaigns appeared to be paused rather than completely taken off the table. We think that it's sort of, as our sales team described earlier, an air pocket for a few months here. And so we are comfortable with some recovery on the managed service front. cont...
Sign In
Follow the stocks
