The Trade Desk, Inc. ( TTD ) and Magnite, Inc. ( MGNI ) shares moved higher Wednesday after Netflix, Inc. ( NFLX ) said it will launch an in-house advertising technology platform by the end of 2025.

The Details:

Netflix ( NFLX ) hosted its second Upfront presentation to advertisers and said it has reached 40 million global monthly active users (MAUs) on its ad-supported plan with 40% of all signups in the ads countries now coming from the ads plan.

Netflix ( NFLX ) announced it will build an in-house advertising technology platform and expand its roster of buy-side programmatic partners beyond Microsoft this summer to include The Trade Desk ( TTD ), Google's Display & Video 360 and Magnite ( MGNI ).

"We're being incredibly strategic about how we present ads because we want our members to have a phenomenal experience. We conduct deep consumer research to make sure we stay ahead of the competition, bringing opportunities that are better for members and better for brands," said Netflix ( NFLX ) President of Advertising, Amy Reinhard. 

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TTD, MGNI Price Action: According to Benzinga Pro, The Trade Desk ( TTD ) shares closed up 4.72% at $90.25 and Magnite ( MGNI ) shares closed up 8.41% at $9.80 Wednesday.

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