Western Union has created a media network business and partnered with sell-side advertising company Magnite, which will provide the financial services company with the technology needed to buy media as an advertiser as well as monetize its owned media.
The Western Union Media Network will leverage the Magnite ClearLine solution, which puts clients in control of the ad-buying process by allowing them to purchase premium streaming inventory directly from publishers. Technology from Magnite, which reaches 92 million CTV households in the U.S., also will help the new media network monetize Western Union media properties that span the web, mobile and in-app environments, collectively reaching 15 million U.S. customers.
“Magnite’s expansive technology and service offerings make them a versatile partner that can help address our desire to grow our business,” said Chris Hammer, SVP at Western Union in a statement.
The Media Network will provide advertisers access to a multicultural audience and leverage anonymized transaction data against Magnite inventory, a combination that will provide advertisers with more precise targeting and streamlined programmatic workflows.
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“It’s great to see the advanced technology we’ve built for publishers and advertisers providing clear value to clients in new fields,” said Stephanie Reustle, Head of Commerce Media at Magnite in a statement. “We’ve seen the firsthand benefits of bringing sellers and buyers together, and helping commerce media brands integrate into the landscape will bring additional advantages for all.”
