Kroger Precision Marketing (KPM) Activates Omnichannel Inventory Through Magnite
Collaboration around Kroger’s Retail Media Network Will Focus on CTV and Online Video
NEW YORK, Sept. 13, 2022 (GLOBE NEWSWIRE) -- Magnite (NASDAQ: MGNI), the world’s largest independent sell-side advertising platform, today announced it has been selected as one of the inaugural CTV platforms to support The Kroger Co.'s (NYSE: KR) retail media advertising business, Kroger Precision Marketing (KPM).
Working with Magnite, KPM will enable its first party data packaged with premium omnichannel inventory, with an emphasis on CTV but spanning all formats including display and online video. Magnite reaches 80 million CTV households in the US and 9 out of 10 viewers of ad-supported TV. The collaboration will enable advertisers to purchase CTV and video inventory enriched with KPM first party data through the buy-side tools of their choosing.
“With people consuming more TV hours through connected devices, brands need access to retail sales data in the programmatic CTV environment,” said Michael Schuh, VP of Media Strategy and Program Development at Kroger Precision Marketing. “We’re excited to be working with Magnite to provide brands with a centralized access point to video and CTV inventory. We expect this collaboration will help solve for supply fragmentation and bring scale for CPG advertisers who are looking to activate on CTV.”
“The rapid growth of Kroger Precision Marketing speaks to the incredibly valuable position they occupy in the market and the opportunity ahead for retail media,” said Sean Buckley, Chief Revenue Officer at Magnite. “We are excited to be working closely with the Kroger retail media team to help enable their rich first-party data and unlock new opportunities to provide in-market audiences at scale across ad formats for brands.”
Magnite also recently announced a deal with LG Ads Solutions to bring ACR data and inventory from LG smart TVs together with Magnite's offering. LG Ads Solutions CEO Raghu Kodige said "Infusing premium CTV inventory with Kroger’s first-party retail data will be a huge opportunity for advertisers and we’re supportive of this trend across the retail media landscape. Expanding access to CTV audience data and unifying it with purchase data in privacy-compliant ways will support improved planning, activation and measurement.”
As America's largest grocery retailer, Kroger serves 60 million households annually nationwide. Key to their retail media offering, Kroger’s popular loyal-shopper program is connected to 96% of store sales. Kroger Precision Marketing was created nearly five years ago, applying data science to better connect consumer packaged goods brands with relevant households. The retail media network sells self-service advertising on Kroger digital properties, managed-service advertising through publisher collaborations, and programmatic advertising through its private marketplace.
About Magnite
We’re Magnite (NASDAQ: MGNI), the world’s largest independent sell-side advertising platform. Publishers use our technology to monetize their content across all screens and formats including CTV, online video, display, and audio. The world's leading agencies and brands trust our platform to access brand-safe, high-quality ad inventory and execute billions of advertising transactions each month. Anchored in bustling New York City, sunny Los Angeles, mile high Denver, historic London, and down under in Sydney, Magnite has offices across North America, EMEA, LATAM, and APAC.
Media Contact:
Kar Yi Lim
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