Last checked at 9 Nov 2020 07:00
Mirriad launches music alliance to connect bands with brands
9 November 2020
Mirriad Advertising plc
("Mirriad" or the "Group")
Seamless brand integrations in music content to create new revenue opportunities for artists
Mirriad, the computer vision and AI-powered in-video advertising company, today announces the launch of the Music Alliance.
The company is partnering with globally renowned record labels and leading independent music companies such as Red Light Management, the largest independent music management company in the world, and prominent UK-based label B-Unique Records to place high profile brands into music content.
These partnerships bring brands immediate access to over a thousand global artists.
Following Mirriad's announced milestone agreement in October 2020 with one of the largest and best-known US-based content producers and distributors, this launch clearly demonstrates the flexibility of Mirriad's technology and its ability to easily reach into new sectors.
The Music Alliance offers a new solution to the major challenges faced by both the music industry and marketers. For artists, Mirriad has created a revenue generation platform that reflects and respects the value of their work by helping them to sell brand integrations in both new videos and back-catalogue content, a potentially significant source of earnings for artists who increasingly create and own their content. For marketers, it offers a new route to engaging audiences in an era of fragmented media and increasing ad avoidance.
Mirriad's new offering comes at a particularly important moment for the music industry. As the COVID-19 pandemic continues to evolve, the music sector is seeking new ways to monetise output as revenues from live performance and associated merchandise sales are under pressure.
Stephan Beringer, CEO of Mirriad, said: "We have been preparing for a strategic expansion into the music sector for some time, and the launch of the Music Alliance highlights the scale of our ambition. The creative arts are currently facing unprecedented challenges and securing new sources of revenue through a scaled collaboration with advertisers and their agencies is the most powerful answer we can give. In contrast to traditional endorsement and placement deals, we have the ability to cross genres, artists and context, opening new income opportunities to both established and up-and-coming artists.
"The fact that viewers actively prefer the Mirriad format means we are in a unique position to be able to deliver great experiences and value that strike a harmonious balance between artist and advertiser."
James Sandom, Managing Director of Red Light Management in the U.K, said: "We are excited to partner with Mirriad and feel privileged to be at the cutting edge of opening up an innovative medium of new revenue in the music community."
"Mirriad's technology addresses the challenges of monetising content while putting the artists first, giving them greater control in the direction and nature of partnerships within their content. We're confident that connecting the worlds of marketing and music will add value to artists in scaling their business, while also offering brands a way to naturally immerse themselves in impactful campaigns without interrupting the experience for fans."
Martin Toher, Co-founder of B-Unique, said: "We've had the pleasure of working with Mirriad to create a proof of concept video with the band Kodaline, and were incredibly proud of the result, which was notably created entirely in lockdown. That experience showed us the worth, creativity and seamlessness Mirriad's technology provides. It's going to be an invaluable tool for the industry that's seeking lucrative and dynamic opportunities to support its artists."
A demonstration of Mirriad's music-focused in-video capabilities can be watched here: https://vimeo.com/476866076/f0ee7cba12
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 |
David Dorans, Chief Financial Officer |
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Nominated Adviser & Broker: Canaccord Genuity Limited
Simon Bridges | Tel: +44 (0)20 7523 8000 |
Richard Andrews |
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Thomas Diehl |
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Financial Communications: Charlotte Street Partners
Tom Gillingham | Tel: +44 (0) 7741 659021 |
Katie Stanton | Tel: +44 (0) 7789 204508 |
Notes to editors
About Mirriad
Mirriad's award-winning solution unleashes new revenue for content producers and distributors by creating new advertising inventory in content. Our patented, AI and computer vision technology dynamically inserts products and innovative signage formats after content is produced. Mirriad's market-first solution seamlessly integrates with existing subscription and advertising models, and dramatically improves the viewer experience by limiting commercial interruptions.
Mirriad currently operates in the US, Europe and China.