REG - Mirriad Advertising - Agreement with top three US entertainment network

Mirriad AdvertisingAnnouncement

16/11/2023 07:00

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RNS Number : 6149T  Mirriad Advertising PLC  16 November 2023

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 (http://www.mirriad.com)
or contact:

 

 Mirriad Advertising plc                                                                       Tel: +44 (0)207 884 2530

 Stephan Beringer, Chief Executive Officer

 Nominated Adviser & Broker:                                                                   Tel: +44 (0)20 7886 2500

 Panmure Gordon

 James Sinclair-Ford/Daphne Zhang (Corporate Advisory)

 Rupert Dearden (Corporate Broking)

 Financial Communications:

 Charlotte Street Partners

 Tom Gillingham                                                                                Tel: +44 (0) 7741 659021

 Fergus                                                                                        Tel: +44 (0) 7590 049023
 McGowan

 

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.

 

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