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The fact competitors are coming is good as it validates the space. The fact one of these monsters doesn’t buy mirriad for say £50m means the IP isn’t creating a moat. Mirriad has stagnated and it seems highly unlikely they will be part of the pie will which be massive in 3-5 years. The big boys will want the revenue stream to themselves. No way will they let a little UK minnow take a slice. Alarm bells rang when no one came forward when mirriad up for sale last year.
LovableTB,
As I've said several times to you now, yes the pipeline is a concern to me but no where near as much as it is to you currently.
We differ around "Programmatic"
We are in Manual mode currently or I think I've seen it being referred to as version 2.0
Its Version 3.0 that has been developing/testing or whatever else you want to call it & should be (or is meant to be) Live and generating revenue in this quarter with 1 Content provider with 4 others running slightly behind them.
That is what is meant to be the game changer.
We can only wait & see if that turns out to be true or not.
LOTM
This was from 12 months ago at the 3p raise - In the event that the Company is unable to meet such obligations as a result of the failure of the Fundraising to complete and in the event that the Company is unable to secure alternative sources of funding, the Directors believe that it is unlikely that the Company will be able to continue as a going concern and it is highly likely that the Directors would (in order to fulfil their duties to the Company's creditors and to other applicable stakeholders) seek to place the Company into some form of insolvency proceeding
The announcements made by Amazon and NBCU that they were, or intended, to enter the in-content advertising market;
The Directors expect other major media and adtech companies to enter the in-content market over the next twelve months. The Directors believe that ultimately this will lead to an industry-wide development and adoption of in-content advertising as a new advertising format.
There are, however, emerging competitors who provide similar services (in some respects) to those provided by the Company and several who have longer established business models with larger revenue streams operating in adjacent business sectors. It is also possible for very large and well-resourced organisations who sell advertising products as part of their core business to see the market potential that the Company sees. While the Directors believe that replication of the Company's platform is complex and a level of protection is afforded by various intellectual property protections, including patents, copyright, trademarks, trade secrets and contractual provisions, to preserve its intellectual property rights, an organisation with the ability to invest and devote resource to the development of an advertising product could ultimately replicate the service provided by the Company. Many of the Company's competitors and potential competitors have significantly greater financial, technical, marketing or service resources than the Company and have a larger base of products, longer operating histories and/or greater name recognition. In addition, the Company's competitors may be able to respond more quickly than the Company can to changes in partner requirements and devote greater resources to the enhancement, promotion and sale of their products and to the development of new products.
*spelled out
LOTM I can only assume you cannot read between the lines and need it spelt out. As I posted the potential of Mirriad massive as the VPP space will be massive so that’s why mirriad has signed demand and supply side partners for years (see Disney 3 years ago). The point I’m labouring is Mirriad’s moat/IP isn’t deterring competitors and some massive players who could gobble mirriad up if necessary which is clearly isn’t. Mirriad has talked potential for years, same patter and my point is the revenues in as few years will be huge and my bet is mirriad wont be around as will have gone under or bought out (less likely as would have happened).
Are you not concerned they are still burning nearly £800,000 a month, have an unweighted pipeline for the rest of the year of £2.6m which is awful and they’re more than likely gonna raise again within 12 months. If they can.
I understand you’re new here and underwater but you need to be realistic and hopefully your days of hyping to naive investors over.
Hi LovableTB,
You've said a lot of what you've just written before. I totally get the concerns.
However you didn't answer my question.
So I'll repeat, its not a trick question I genuinely want to know your thoughts on it .....
"Why did 40% of USA content providers sign up for it & another 47% are in active discussions to do so ?
If its not going to generate meaningful revenue for these extremely large companies then why on earth would they sign up & dedicate teams of there own staff to sales & marketing for it? "
Thanks
LOTM
You also forget mirriad had a for sale sign up last year and they said no one was interested. VPP will be massive in a few years so huge money. If mirriad had a most so IP stopped others from getting in on it they’d have been bought last year or even now for less than £50m or 10p a shares feck all to big boys.
lotm unlike you i am a realist hence i said a raise before june 30 was highly likely whilst you enticed newbies to buy. i understand that accounts have to be signed off and have been invested here for years so have seen the impressive partners both demand and supply side, linkedin posts but have also seen revenue stagnate, cash burn continue and more jam tomo spread. again i think the potential is massive but the ceo not delivering. 12 months ago a discounted raise at 3p and here we are one less than half that. we signed disney on a 2 year trial 3 years ago and what happened to that? programmatic going for nearly 18 months and the ceo clearly doesn’t see it accelerating any time soon given the steady take up will see future growth. £2.6m in the entire sales cycle pipe is more than worrying. again i’ve been here years not months so have seen similar patter regurgitated. the company said 12 months ago competition a large risk and with amazon, nbcu and others coming along i suspect mirriad will go under next year or be bought out for feck all. i mean this was from nearly 2 years ago - both amazon and nbcuniversal announced that content in their streaming platforms would feature virtual product placements.
amazon is using the beta ad product in its shows, such as the bosch franchise, leverage: redemption, and tom clancy's jack ryan. prime video and the ad-powered frevee service both use the novelty product – as does nbcuniversal’s platform pea****.
as mentioned above, these kinds of ads are embedded within shows after production. for instance, a bag of m&m’s was digitally added to a bowl on a table in a bosch episode.
there will be large players with deep pockets who will take this space and we’ll be nowhere to be seen.
LovableTB,
So with your total negativity towards Programmatic & the company's product can you please explain, why 40% of USA content providers have signed up for it & another 47% are in active discussions to do so ?
If its not going to generate meaningful revenue for these extremely large companies then why on earth would they sign up & dedicate teams of there own staff to sales & marketing for it?
LOTM
He’ll be nicely rewarded for doing very little. First thing he should do is get rid of the awful CEO. They hope to break even next year, when? Likely the last week in Dec if at all. The quote below doesn’t inspire confidence as highlighted by the awful unweighted pipeline. It tells me future growth a way off so a raise next year inevitable.
continue along the steady path towards programmatic, which has always been identified as the catalyst for future growth.
Numis recently acquired by Deutsche Bank now Deutsche Numis must of done some serious analysing and DD in the past 20 years for clients do we all at least concur on this
We have no idea what revenue was like in Q1, or how Q2 is actually doing.
Given they are running out of cash end of August revenue clearly poor as is what's booked in until then. They are burning at least £762,500 a month given they had £6.1m cash Dec 31. They launched their first programmatic campaign some 18 months ago, roll out painful and the pipeline says a lot.
Hi LovableTB,
Cash burn would appear to be pretty much as expected ( we won't know for sure until we get the March 31st & June 30th figures).
We have no idea what revenue was like in Q1, or how Q2 is actually doing, but I'm guessing neither are great & that is down to us still being in Manual mode.
Everything really depends on getting Programmatic up & working & sadly we have no idea if that is on schedule or not.
LOTM
LOTM I am sorry to say but you clearly don't know how raises work for PLCs. The fact they would have only had 3 months worth of cash by the time the new shares are admitted (28 May) is pretty shocking. The BOD are happy not to have the share price any higher as all it would mean is a larger discount. They are burning cash at a crazy rate and the unweighted pipeline a huge concern. Last time the share price went to over 4p from a raise at 3p and then of course lots of profit taking so the share price settled at around 2p and this time I expect similar to happen. For all the partnerships and LinkedIn hype revenue is still awful, cash burn high and the only near on certainty is they come back to the market in less than 12 months for another raise. Given most business is done in H2 I still can't believe how crap the unweighted pipeline is.
I've just been going through the fund raising document again, for information that will be going into various emails.
I hadn't read until this morning that in the document it actually states that the company has sufficient cash to last it until the end of August.
"In the event that the Resolutions are not passed and the Fundraising does not complete in full, and if such an alternative source of funding cannot be found, the Company expects that it would only have sufficient cash to fund its activities until the end of August 2024 and it will seek to conduct an orderly wind down of the affairs of the Company substantially before that time. "
The above just adds to the view that the timing & pricing of this placement is all wrong & that the company should have waited until after Upfronts24 had taken place.
LOTM
Buck
LOTM aka Last Of The Mochicans give it a rest. It's a good idea on paper, but they're burning through cash and their pipeline suggests that they're nowhere remotely close to a break even point anytime soon.
If you want to make a quick book. Well I reckon you'll be better off taking the lead from your fellow indegenous Native Americans and start a casino.
This is Esra's page
https://www.linkedin.com/in/esrabacher?trk=public_post_comment_actor-name
She is the one highlighting Mirriad to other's for this question -
"Who are some of the most exciting early stage (pre exit / public) CTV AdTech companies that you have come across recently? "
Thus putting it on there radar ...........
The 2nd recommendation in her profile (long 1st one was on the previous post)
“Esra is fantastic & one of the slickest operators I've come across in the programmatic world. Her collaborative & strategic approach meant she really understood how to effectively work with media owners whilst generating maximum value for her clients. ”
6 people have recommended Esra
I'm guessing from all that is said, that she came across Mirriad through the Multicultural Marketplace & her work & found the product offering compelling.
So that would say that she is happy to endorses the product, the question is then down to Programmatic & margins on sales Mirriad wise.
LOTM
Axel Jonuschies
“I have had the privilege of working closely with Esra for over a decade at GroupM, and I am delighted to outline some of her exceptional contributions during her tenure at GroupM. Esra is an outstanding team leader, demonstrating an unparalleled ability to mobilize and inspire her team. Her leadership style is marked by a rare combination of strategic vision and hands-on involvement, fostering an environment where everyone feels empowered and motivated to deliver their best. She consistently leads by example, setting the bar high for professionalism, dedication, and collaborative spirit. Esra is not only a relentless worker but also someone who sets ambitious goals and works tirelessly to achieve them. Her dedication to excellence is truly commendable, and she has a remarkable knack for turning challenges into opportunities. Under her leadership, the Digital Investment team at GroupM US achieved unprecedented success, a testament to her commitment to driving results. She has an innate ability to cultivate positive and productive relationships with stakeholders from diverse backgrounds. Whether engaging with local partners or collaborating on a global scale, her communication style is clear, concise, and always aligns with the overarching goals of the organization. Esra possesses a unique talent for bridging cultural gaps, fostering an inclusive environment, and ensuring that the interests of all stakeholders are considered and addressed. In the realm of digital investments, programmatic advertising, and CTV, Esra's expertise is second to none. Her profound knowledge in these areas has been instrumental in shaping and executing innovative strategies that have elevated GroupM's position in the market. Esra played a pivotal role in driving programmatic Supply Path Optimization (SPO) efforts, showcasing her keen understanding of the evolving landscape and her ability to navigate complexities with finesse. One of Esra's standout achievements is the successful launch of the GroupM Premium Marketplace in the US market. Her vision for a prioritized, scalable access to premium inventory in the most efficient and transparent way has not only benefited GroupM but has also set a benchmark for excellence in the industry. Esra's impact on our organization has been profound, and her legacy of success continues to resonate. I wholeheartedly recommend Esra for any leadership role that demands strategic acumen, dedication, and a profound understanding of digital investments. Her combination of soft skills and technical expertise makes her an invaluable asset to any team or organization fortunate enough to have her on board. On a personal note, I genuinely look forward to the prospect of working closely with you Esra again!”
Should of mentioned this as well Germanys JOYN streaming network 7 million subscribers does VPP that's why Louis and Sandra did all those German visits a couple of months ago
https://www.seven.one/werbeprodukte/joyn-werbeprodukte
Just scroll down to VPP obviously fully integrated and available now
Quortex use AI to analyse the scene and recommend a brand to suit the scene and put a banner in the corner... personally I think it's still intrusive like these annoying banners on this website...much prefer a product inserted on to a table top or a billboard on a building or a car inserted outside a bar etc etc... seems more natural... and much better than in your face actual product placement clearly being promoted by the actors just my view
Yeah LOTM so Quortex do video delivery under quortex.io and adformats (like triplelift) under quortex.ai
Well you've got a name now Zack Rosenburg, so I'll let you go do your things with it, clearly it has potential in our space given what AT said in that video you found.
Sadly I need to concentrate on other things I've a lot to achieve this weekend ! :(
Catch you all later.
LOTM
Here's some more looks like they're a triplelift type inserting L banners etc which find is still intrusive unlike VPP which is natural....but much smaller I don't recognise the small list of publishers they work with either
Here's the link LOTM I Think it's the same company with a slightly different website address
https://www.qortex.ai/
Https://www.alleywatch.com/2023/12/qortex-video-analytics-platform-adtech-highest-impact-placement-zack-rosenberg/
Seem to have had far less trouble raising cash than Mirriad BOD have achieved
LOTM