SpotX has formed a new partnership with LG Electronics to serve as the primary supply-side platform (SSP) in the U.S., Europe, Middle East, Asia and Latin America.
SpotX said it will provide LG with demand facilitation services to connect media buyers with OTT video inventory available on LG smart TVs and will give buyers the ability to purchase that inventory programmatically through the SpotX platform or the demand-side platform (DSP) of their choice.
LG said it has more than 120 million smart TVs activated globally and that streaming viewing continues to grow on its platform.
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"This global partnership signifies a growing trend of device manufacturers recognizing the power of owning the glass to not only manage content distribution and access but also aggregate unique audience data," said Mike Laband, senior vice president of platform at SpotX, in a statement. "LG is in the best position possible right now to make the leap and expand its advertising business with programmatic, and we're excited to collaborate with the team in any way possible."
"LG plays a major role in unlocking free news and entertainment programming options for our viewers," said Matt Durgin, LG Electronics USA's senior director North America smart TV partnerships, in a statement. "In 2020, we've saw more than 300% growth in streaming hours on LG Channels. Through our collaboration with SpotX, we can provide media buyers with a new option to unlock these highly engaged audiences on our premium smart TVs."
The new deal arrives as SpotX is in the process of being acquired by Magnite for $1.17 billion.
“As CTV flourishes and the media industry continues to turn to programmatic, there is a huge opportunity for an independent scaled company to offer the single most comprehensive technology in the market,” said Mike Shehan, co-founder and CEO at SpotX, in a statement. “We built SpotX with the mission of becoming the leading global video advertising platform, and our goal is now coming to fruition with Magnite. I am thrilled about what we will achieve together.”