Last checked at 4 Mar 2024 07:00
4 March 2024
Mirriad Advertising plc
("Mirriad" or the "Company")
Mirriad signs agreement with top US and global entertainment major
Latest milestone in driving US growth achieved
Mirriad, the leading in-content advertising and virtual product placement company, is pleased to announce that it has entered a two-year agreement (the "Agreement") with a leading US media and entertainment conglomerate (the "Partner"), renowned for its diverse portfolio of movie studios and productions, television channels and streaming platforms. The Agreement will enable the Partner to employ its platform to identify virtual product placement opportunities and introduce in-content advertising into its content.
The new Partner has 95 million direct-to-consumer video streaming subscribers alone, and a further 20+ networks in the US which average more than 100 million total viewers each week. It is also home to the majority of the top ten rated TV networks. New high value inventory can now be made available for campaign deployment to the many large ad spenders Mirriad is already working with.
As part of the Agreement, the Partner has committed significant resources - including its sales and marketing teams - to take the new in-content inventory to market, beginning in March with one of the Partner's highest rated programmes distributed across TV and digital.
This Agreement and the agreement announced by the Company on 16 November 2023 brings Mirriad's virtual in-content advertising solutions to two of the largest media companies in the world with TV and streaming advertising businesses of almost $19bn globally.
Stephan Beringer, CEO of Mirriad, said: "This lengthening line of agreements with US 'majors' or 'super-majors' shows that the 'Mirriad-inside' strategy of integrating in-content advertising across the entire TV and video media ecosystem is gaining significant traction. Focusing on the biggest players in the largest market in the world is steadily creating a sea-change in the scale of new partners and establishing the Mirriad ad format as a new industry gold standard. Adding to the new partner agreements signed in Q4 2023, Mirriad's access to the US TV advertising market has just grown from less than 10% to almost 40% and we are now working with seven out of the top ten media companies in the US. Negotiations with another US major are also progressing.
"Programmatic integration with this Partner's streaming platforms is in active discussions already, and this is expected to enable significantly shorter lead times, automated transactions and increased volumes. Our focus for the past two years has been on developing a programmatic solution as this will enable us to scale revenues significantly. I'm excited that we are in touching distance of achieving this."
ENDS
For further information please visit www.mirriad.com or contact:
Mirriad Advertising plc Stephan Beringer, Chief Executive Officer Nic Hellyer, Chief Financial Officer
| c/o Charlotte Street Partners |
Nominated Adviser & Broker: Allenby Capital Limited James Reeve/Lauren Wright (Corporate Finance) Guy McDougall/Matt Butlin (Sales and Corporate Broking)
| Tel: +44 (0)20 3328 5656
|
Financial Communications: Charlotte Street Partners Tom Gillingham Fergus McGowan |
Tel: +44 (0) 7741 659021 Tel: +44 (0) 7590 049023 |
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.