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Patrick Mahomes’ helmet wasn’t the only thing that broke that day.
It was back on a frigid evening in January when the Kansas City Chiefs quarterback returned to the huddle during a game against the Miami Dolphins and discovered a hole in his helmet.
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On the previous play, Mahomes took a hit from Miami Dolphins safety DeShon Elliott, and the impact of the helmets’ collision in the bitter cold sent a shard of red plastic flying.
And when we say cold, we’re not kidding.
The temperature at kickoff was minus 4 degrees Fahrenheit (minus 20 degrees Celsius) with a wind chill of minus 27 degrees Fahrenheit. News agency was reported, making it the fourth coldest in NFL history.
The Chiefs continued to beat the Dolphins, and while Mahomes’ cap took a beating, the game was on It is broadcast exclusively on the Peacock Channelmarking the first time an NFL playoff game has been shown behind a streaming service’s paywall and setting a record in the process.
The Chiefs’ 26-7 victory averaged 23 million viewers on Peacock, NFL+ and on NBC affiliates in Kansas City and Miami, according to Nielsen, while total viewers for the game averaged 27.6 million.
Trade Desk Inc
Trade Desk notes ‘deviation in viewer behavior’
The average viewership surpassed the previous record of 15.3 million for the Nov. 30 game between the Seattle Seahawks and Dallas Cowboys on Amazon. (Amzn) Prime Video.
Amazon is paying $1 billion per season through 2033 for the rights to broadcast “Thursday Night Football,” and has already tried other initiatives, such as broadcasting the first-ever NFL game on Black Friday last season.
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Netflix (NFLX) He also comes off the bench.
In May, the company and the NFL announced a three-year deal that would see the streaming service run live games on Christmas for $75 million per game.
Trade office (TTD) a programmatic marketing company, is impressed by these numbers.
The Ventura, Calif., company, which recently announced a partnership with Netflix, reported on a report 43% of Americans surveyed said they are spending more time on streaming platforms because more of their favorite content is on a connected TV.
“This deviation in viewer behavior is driving advertisers to increase CTV spending — and in some cases, to lead CTV in their TV strategy,” the company said.
Jeff Green, company founder and CEO, He told analysts Last month, “more than 90% of the Top 200 Advertising Companies, the 200 largest advertisers in the world, ran ad campaigns on our platform over the past 12 months.”
The Trade Desk reported first-quarter earnings of 26 cents per share, up 13% from a year earlier, while revenue rose 28% to $491 million.
Analysts polled by FactSet were expecting earnings of 22 cents per share on revenue of $480 million. A year ago, Trade Desk earned 23 cents per share on revenue of $383 million.
On Monday, Wedbush analyst Scott Devitt initiated coverage of The Trade Desk with an outperform rating and a $110 price target.
Wedbush analyst sees catalysts in trade desk
Devitt sees several drivers to support sustained revenue growth of more than 20%, including the continued shift to programmatic CTV advertising from linear TV, the growth of off-site retail media, and international expansion supported by recent investments to increase market share outside the US.
“We think there is a silver lining for the industry [connected-TV] “The estimates, which in our view appear conservative, given the continued increase in CTV ad inventory, growing ad-supported viewership, shifts in sports content rights, and improvements in ad targeting and measurement on CTV properties,” Devitt said.
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In the near term, the analyst said a number of catalysts could push analyst estimates to the upside, including tailwinds from US political spending in the second half of 2024 and the launch of CTV’s recent partnerships with major publishers.
Devitt’s 2024 and 2025 revenue estimates are 1% and 3% above expectations, respectively, and the company is expected to maintain a 22% compound annual growth rate over the next four years.
Last week, Piper Sandler said she continued to view Trade Desk as her best large-cap idea even after the stock moved 30% year to date. The investment firm said it is confident in the company’s ability to maintain its annual growth rate of more than 20% over several years.
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Specifically, Piper Sandler says recent partnership announcements – Netflix and Disney+ (Dis) year (year) and more – will lead to a strong market next year, resulting in additional spending on connected TV.
The Netflix opportunity alone could lead to a low-to-moderate percent increase in spending in 2025, the company said.
On a near-term basis: Piper Sandler’s digital advertising scans point to The Trade Desk’s outperformance relative to the broader market accelerating, as increased spending looks set to go to CTV.
Piper has an overweight rating on the stock with a price target of $110.
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