Two of the largest independent SSPs compared. Which is the better fit for your inventory? Updated 2026.
| Feature | PubMatic | Magnite (Rubicon Project) |
|---|---|---|
| Founded | 2006 | 2007 (as Rubicon Project; merged with Telaria 2020) |
| Headquarters | Redwood City, CA | New York, NY |
| Public/Private | Public (NASDAQ: PUBM) | Public (NASDAQ: MGNI) |
| Display/Web SSP | Strong; core business | Strong; established market leader |
| Video/CTV | Growing CTV presence | Major CTV focus post-SpotX acquisition |
| Header Bidding | OpenWrap (Prebid-based wrapper) | Prebid adapter + Demand Manager |
| Identity Solutions | Identity Hub, Connect | ClearLine, Audience solutions |
| Infrastructure | Owns and operates its own infrastructure | Owns and operates its own infrastructure |
| SPO Focus | Active SPO partnerships with DSPs | Active SPO partnerships with DSPs |
| Publisher Tools | OpenWrap, Analytics, Identity Hub | Demand Manager, Audience tools, SpringServe |
PubMatic and Magnite are the two largest independent (non-Google) SSPs in the market. Both are publicly traded, both own their infrastructure (rather than relying on cloud providers), and both compete aggressively for publisher relationships across display, video, and CTV.
Magnite became the largest independent SSP through its merger with Telaria (2020) and acquisition of SpotX (2021), giving it a particularly strong position in CTV and video. PubMatic has grown organically with a focus on display, mobile, and increasingly CTV, emphasizing its owned infrastructure and supply path optimization.
Magnite has a clear lead in CTV following the SpotX acquisition, which brought established relationships with CTV publishers and a robust video ad serving platform (SpringServe). Magnite's CTV revenue has become a significant portion of its business, and it offers both programmatic and managed service CTV solutions.
PubMatic has invested heavily in CTV and video, growing its presence organically. While its CTV revenue is smaller than Magnite's, PubMatic's infrastructure advantages and omnichannel approach (web + app + CTV in one platform) appeal to publishers who want a single SSP partner across all channels.
Red Volcano tracks adoption of both technologies across 32M+ publishers.
Explore the Data →PubMatic's OpenWrap is a Prebid-based header bidding wrapper that gives publishers a managed solution for running client-side and server-side auctions. OpenWrap integrates with PubMatic's analytics and identity tools, offering a cohesive publisher platform.
Magnite's Demand Manager is its header bidding management tool, offering similar functionality for configuring and optimizing Prebid setups. With SpringServe (from the SpotX acquisition), Magnite also provides a dedicated video ad server.
Both platforms invest in identity solutions, supply path optimization, and analytics tools to help publishers maximize yield.
Both companies are publicly traded and report quarterly earnings, providing transparency into their scale and growth. As of 2026:
Both companies are benefiting from the shift toward supply path optimization, as DSPs consolidate their SSP relationships with trusted, transparent partners.
Yes. Rubicon Project merged with Telaria in 2020 and rebranded as Magnite. It subsequently acquired SpotX in 2021 to strengthen its CTV and video capabilities.
Both PubMatic and Magnite work with tens of thousands of publishers globally. Red Volcano tracks detailed SSP adoption data across 32M+ publishers -- you can compare their exact market share in our platform.
Yes, most publishers work with multiple SSPs to maximize demand competition. Using both PubMatic and Magnite alongside other SSPs in a header bidding setup is common practice.
Magnite has a stronger CTV position due to the SpotX acquisition, which brought an established CTV ad server (SpringServe) and CTV publisher relationships. PubMatic is investing heavily in CTV but has a smaller share of this market currently.
PubMatic's OpenWrap is a managed Prebid-based wrapper offering analytics and optimization. Magnite's Demand Manager provides similar Prebid management capabilities. Both integrate with the broader Prebid.js ecosystem.
Red Volcano monitors adoption of every major ad technology, SSP, and header bidding solution. See market share trends, publisher-level data, and competitive intelligence.