Magnite acquires streamr.ai to open CTV market to small businesses

Magnite is bolstering its AI capabilities with the acquisition of streamr.ai, a platform that makes Connected TV (CTV) advertising accessible to small and medium-sized businesses. The deal is aimed at unlocking a fast-growing revenue stream for publishers by simplifying creative generation and campaign setup. Financial terms were not disclosed.

“The CTV advertising opportunity for small businesses is enormous, but it’s been bottlenecked by complexity and high costs,” said Magnite CEO Michael Barrett. “streamr.ai’s technology uses AI to accelerate this transition for SMBs, making tasks like CTV creative generation and campaign setup much easier.”

Streamr.ai’s co-founders Jonathan Moffie, a former product lead at Wurl, OrkaTV, Yahoo and Shutterstock, and CTO Frank Turano, formerly of Shutterstock and Dotdash Meredith, will join Magnite.

Moffie said the acquisition would help expand the company’s vision. “Magnite shares our vision for helping small businesses grow revenue through CTV advertising, and their relationships and resources will enable us to accelerate that process.”

Magnite plans to integrate streamr.ai into its ecosystem of partners, including agencies, retail media networks, publishers and DSPs, as it continues to expand its AI expertise across products.