The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
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This example is still intrusive even though they say its non intrusive Mirriads solution would blow this split screen example out the window
https://hubs.li/Q02x5Frz0
There’s been a lot delusional speculation over far less important things than a broker note!!
You know things are bad when a research note by a house broker generates a score of comments and delusional speculations. Hard cash and highly profitable contracts speak for themselves.
Forgot to mention LOTM the Edison lady Fiona I think still likes a lot of Mirriads posts even now
It seems the big talking point is their new ONE Platform a cross linear and digital unique AdTech service that was beta tested with Dominoes hopefully Mirriad API has been integrated with the new platform for testing as well
Here's an basic article from yesterday
https://deadline-com.cdn.ampproject.org/c/s/deadline.com/2024/05/nbcuniversal-dominos-pizzasold-38-more-pizza-after-buying-ads-via-its-one-platform-tools-1235914055/amp/
I want to believe that MIRI have taken a vow of silence for good reason, that they don't want to keep F**n up forecasts, and eroding whatever little shareholder confidence remains. So if they have indeed had to approve this note from Allenby, then to me it feels more in keeping with the last few years that they would err on the side of caution with £4m as it feels on the conservative side to me.
Allenby is the house broker and is paid by mirriad. Mirriad will sign off the any note from the house broker or any research house paid for by Mirriad. Of course independent research notes (not paid for) very different but minnows like mirriad and many AiM PLCs don’t get that kind of coverage.
You got it BDSR even the Allenby don't really include a programmatic take off
Hi Buydipsellrepeat,
I don't think Allenby Capital speak on behalf of Mirriad here, because there are things in the document Mirriad might be very uncomfortable with. Those named, those all but named (which have no possible alternatives).
LOTM
Pre-programmatic - so kinda irrelevant.
They signed their first US tier 1 some 4 years ago and yielded very little, that was on a 2 year deal and not a word since.
Point is I’m sure programmatic will deliver but the roll out proper will be next year and decent revenues IMO H2 when things are busier here anyway. Money will be needed H1 and they will have surely learnt and not leave it so late so I suspect Jan or Feb and hopefully that’ll be the last.
I recall seeing a few Edison reports but I was heavily put off by the high reliance on China and Covid issues so brushed off any reports and my interest... turned to ecommerce companies
Noticed Mirriad again on the MSFT collaboration started researching where they were up to and was very happy to see they had discontinued China ops and focus on US (which is most liberal on PP) liked all the automation work with partners Noticed no research notes available so went with the webinar verbal $25 mill revenue per US TIER1 client just not seen revenue forecast figures for the past few years I should of said as I disregarded the past mistakes...
Every house broker pumps, it's their job.
Again that's just not relevant today as the business was on a different path then. It's for that exact reason (crazy extrapolation of Tencent potential) that MIRI have clearly shied away from printed expected earnings as they have been very poor at that historically and we should note that we still haven't heard anything from them now in this regard. The assumption that Allenby speaks on behalf of MIRI here is also a dangerous one. They clearly give them insight and I can see both sides of the argument here that they could 1) be pumping or 2) being conservative on purpose. A useful follow up point for the AGM perhaps.
Now 4 years later and soon to be 1bn shares in issue with the CEO taking out very large sums they are estimating £4m so less than half the estimate way back when and break even if at all end of next year. What a joke.
Wow Edison published another note a month after (when they estimated £6m) and they increased it to £9m. No wonder Edison resigned the account|!
https://www.edisongroup.com/research/ad-industry-game-changer/29812/
edison declined their business as they felt stupid. edison (like allenby) get their info and guidance from the co. so edison felt they were being bull ****ted especially when you consider in july 2020 they guided £6m revenue the following year.
i suggest the £4m this year allenby is guiding will also be missed. as their house broker they are expected to pump it. programmatic q4 will of course be pushed back and a raise as i have said will be needed h1 2025
Hi 2phevs,
Did you not have the Edison report to look at back then as it was done on the 21 Y/E numbers ?
LOTM
Thanks LOTM onthe net thing I'd reckoned on £8 mill manual with the 4 fold increase in PP..oh well seems like I jumped in here a year early...
When I looked into Mirriad in late 2020 and again in 21 I never saw any real revenue forecasts like the Allenby note so at least that's a step forward just hope it's now under forecast and over deliver
Hi 2phevs,
Yes I did note that this document used "near-term" which wasn't in the placing document.
"net" in this instance means there share of the ad revenue.
Sometimes with other company's they will give a figure that is gross & then you have to work out just how much of it your company will actually be receiving.
Personally that £4M figure for 2024 is underwhelming to say the least. If you can get £1.4M in the USA from less than 8% of the market for most of the year. Then with 40% of the market - you'd
1) Expect the 8% to be expanding the revenue it is generating given the positive results from the studies to £1.75M minimum possible even £2M, given there are now 7 big names listed instead of 5 on the advertising side & new areas of the ads market the product is capable of working for.
2) That the other 32% could generate at least 3 x (rather than 4x) what the 8% did last year ie 3 x £1.4M would put it at £4.2M
3) The other countries around the world that are expanding to some degree with little focus on thee for now £0.5M+
That would say the figure should really be north of £6.5M for 2024.
LOTM
Also the word "net" in the same sentence...net of what??
Did you notice the wording of "near term" LOTM
Definitely going to try and find out as much as possible about todays Telemundo upfront this evening
Still reading it, only on page 2.
So Allenby Capital, have named names in the advertising space! (some of which have wanted to keep quiet previously) but more importantly on page 2 they are saying NBCU is the company that has been in negotiations with Mirriad for month's now as they are the only ones who can have 22% of the Content market.
LOTM
Yep LOTM been focused on chasing emails and rubbishing the advisers to hopefully get a reaction not bothered actually checking Allenby's website Normally these things come up on my daily Mirriad last 24 hours Google search
Not going to discuss content on here but a few nuggets there 1 in particular