Western Union is committed to developing its new Media Network business through collaboration with Magnite, an independent sell-side advertising company.
The financial services firm will use technology from Magnite to buy media as an advertiser and to monetize its owned media. The relevant information is contained in a press release, which was published last Wednesday, April 16, on the official website of Magnite.
Western Union senior vice president Chris Hammer stated that Magnite’s expansive technology and service offerings make this company a versatile partner that can help the fintech giant to address its desire to grow business.
In the press release, it was noted that one of the functional solutions from Magnite, which will be used by the Western Union Media Network, is ClearLine. In this case, the fintech giant is expected to be able to maximize its working media budget by purchasing streaming inventory directly from publishers.
Western Union Media Network will also use Magnet technology to monetize its owned media properties, including westernunion.com and its iOS and Android apps, by enabling advertisers to tap into them.
The two companies also signed a supply-path optimization (SPO) agreement. In this case, Western Union will receive such an advantage as streamlined access to curated omnichannel inventory.
Magnet head of commerce media Stephanie Reustle stated that this company is proud to support the Western Union Media Network’s entry into advertising by helping them activate efficiently on all fronts.
In November, Western Union launched its Media Network business. The fintech giant said that this functional system lets firms advertise to their customers via brand-owned channels like its website, mobile app, and digital-out-of-home (DOOH) screen network and through audience extension. The company also noted that these channels enable advertisers to reach a diverse, multicultural, and global audience. Moreover, it was noted that Western Union’s data helps marketers improve efficiency with advanced targeting.
Western Union chief marketing officer Bob Rupczynski said in November that the company is excited to offer this opportunity to brands as an extension to their existing marketing efforts, providing a new way to actively engage with consumers, enhance brand affinity, and unlock revenue. It was also noted that the firm is able to provide compelling offers from relevant companies in the channels they trust.
In February, Western Union said that its Media Network business contributed to 56% revenue growth in its Consumer Services segment in the fourth quarter of 2024.
Publishers use Magnite’s 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 its platform to access brand-safe, high-quality ad inventory and execute billions of advertising transactions each month.
Western Union is committed to helping people around the world who aspire to build financial futures for themselves, their loved ones, and their communities.
As we have reported earlier, Western Union & HCL Technologies to Revolutionise Remittance With AI-Driven Tools.
