Western Union is looking to grow its new Media Network business by partnering with Magnite, an independent sell-side advertising company.
The financial services company will use Magnite’s technology to buy media as an advertiser and to monetize its owned media, the companies said in a Wednesday (April 16) press release.
“Magnite’s expansive technology and service offerings make them a versatile partner that can help address our desire to grow our business,” Western Union Senior Vice President Chris Hammer said in the release.
One Magnite solution that Western Union Media Network will use is ClearLine, which will allow it to maximize its working media budget by purchasing streaming inventory directly from publishers, according to the release.
Western Union Media Network will also use Magnite technology to monetize its owned media properties — including westernunion.com and its iOS and Android apps — by enabling advertisers to tap into them, the release said.
The two companies have also signed a supply-path optimization (SPO) agreement that will streamline Western Union’s access to curated omnichannel inventory, per the release.
“We’re proud to support Western Union Media Network’s entry into advertising by helping them activate efficiently on all fronts,” Magnite Head of Commerce Media Stephanie Reustle said in the release.
Western Union launched its Media Network business in November, saying it lets companies advertise to its customers via company-owned channels like its website, mobile app and digital-out-of-home (DOOH) screen network as well as through audience extension.
The company said these channels enable advertisers to reach a diverse, multicultural and global audience, and Western Union’s data helps marketers improve efficiency with advanced targeting.
“We are 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,” Western Union Chief Marketing Officer Bob Rupczynski said in a November press release. “And for our customers, I am proud that we are able to provide compelling offers from relevant brands in the channels they trust.”
In February, Western Union reported that its Media Network business contributed to 56% revenue growth for its Consumer Services segment in the fourth quarter of 2024.
