Last checked at 16 Nov 2023 07:00
16 November 2023
Mirriad Advertising plc
("Mirriad" or the "Company")
Mirriad signs agreement with a top three entertainment network in the US
Major milestone against strategy of driving US growth and market leadership, and important step towards enabling programmatic revenues
Mirriad, the leading in-content advertising company, is pleased to announce that it has entered a master license and services agreement ("Agreement") with one of the world's leading multinational mass media entertainment companies ("Partner Company") to employ its platform to identify virtual product placement opportunities and introduce in-content advertising into the Partner Company's content.
The Agreement brings Mirriad's AI-powered virtual in-content advertising solution to a conglomerate holding over a 15% share of revenue in the US TV advertising market, according to Statista.
The Agreement is the result of Mirriad's strong focus on all major entertainment companies in the US and the acceleration of its discussions and negotiations. It builds upon the Mirriad platform that now seamlessly integrates with these companies' linear and programmatic sales infrastructures and propositions.
The Partner Company connects with billions of people globally, via its studios, networks, streaming services, live events, and merchandise. Its streaming service is one of the fastest growing in the industry and the Partner Company ranks amongst the US top three media companies by advertising revenue, according to Statista.
The Partner Company will be able to benefit from specific incremental ad revenue opportunities via in-content product and brand placements. This new ad format delivers proven results to advertising clients and an uninterrupted experience to viewers, who have been shown to prefer it up to seven times over traditional advertising.
Mirriad is beginning to integrate with the Partner Company to deliver a seamless end-to-end solution encompassing content analysis, campaign management, online access to inventory opportunities, creative execution of digital assets and campaign reporting.
Mirriad is already working with 9 of the top 20 US advertising spenders and the Company expects today's Agreement to pave the way to significant additional inventory for them to spend their advertising budgets across.
Stephan Beringer, CEO of Mirriad, said: "This Agreement represents a major milestone, as we're now working with one of the largest players, with enormous content and sales power, adding further momentum to our 'Mirriad-inside' strategy to integrate and scale in-content advertising as a standard format across the entire media and advertising ecosystem.
"After a successful first phase of standard implementations of our solution, which are planned to be initiated in Q4, we anticipate starting to test our programmatic capabilities on our Partner Company's platform shortly after that. We believe the opportunity ahead is substantial and our internal estimates suggest a noteworthy upside to our Partner Company's multibillion advertising business, which can now be expanded into virtual in-content across all platforms, including streaming."
ENDS
For further information please visit www.mirriad.com or contact:
Mirriad Advertising plc Stephan Beringer, Chief Executive Officer
| Tel: +44 (0)207 884 2530 |
Nominated Adviser & Broker: Panmure Gordon James Sinclair-Ford/Daphne Zhang (Corporate Advisory) Rupert Dearden (Corporate Broking)
| Tel: +44 (0)20 7886 2500
|
Financial Communications: Charlotte Street Partners Tom Gillingham Fergus McGowan |
Tel: +44 (0) 7741 659021 Tel: +44 (0) 7590 049023 |
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"). Upon the publication of this announcement, this inside information is now considered to be in the public domain.
Notes to Editors
About Mirriad
The leader in virtual product placement and in-content advertising, Mirriad's multi-patented and award-winning platform dynamically inserts products and brands into Television, SVOD/AVOD, Music, and Influencer content. Mirriad creates net-new revenue opportunities for content owners with an ad format that virtually integrates brands in entertainment content, drives exceptional performance for advertisers and dramatically improves the viewing experience.
Mirriad currently operates in the US, Europe, and India.