Netflix's ad-partner hunt puts focus on Google, Magnite - report
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It's Cannes Lions week in France, when the advertising world comes together for its largest annual gathering - and this year, Netflix (NASDAQ:NFLX) is the attendee who has everyone's eyes as it makes its first semi-official appearance, and looks to move quickly into ad-supported video tiers.
Talk about ad partners for Netflix at the festival has quickly settled on Google (NASDAQ:GOOG) (GOOGL), considered a logical choice - but ad-tech firm Magnite (NASDAQ:MGNI) has emerged as a key potential supply-side partner, Ad Age noted.
Netflix (NFLX) has been a veteran at the Cannes Film Festival for some time, but this year co-CEO Ted Sarandos is also in Cannes for the ads, at the first congregation of all the industry players since pre-pandemic 2019.
Google already has established "co-opetition"-type deals with companies like Disney who use Google Ad Manager for their online ad delivery, meaning it could be an easy partner for Netflix (NFLX), even as YouTube and Netflix compete for streaming eyeballs.
Magnite (MGNI) has set up a major presence at the festival, parking a yacht near the Palais, Ad Age noted. One executive told the publication, though, that setting up such a supply-side relationship this soon wasn't necessary, and that Netflix's main need is an ad server, which could be provided through Google or Comcast's (CMCSA) FreeWheel (though Netflix might be unlikely to join up with such a close rival as Comcast).
Other partners with strategic advantages that could see an announcement with Netflix this week include Roku (ROKU), Amazon.com (AMZN) and The Trade Desk (TTD), among others.
Ad-supported video on demand models - spurred in large part by Netflix's push - can re-accelerate ad industry growth through new monetization, BofA said in its industry check-in this week.