REG - Mirriad Advertising - Mirriad signs global entertainment major agreement

Mirriad AdvertisingAnnouncement

04/03/2024 07:00

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RNS Number : 3519F  Mirriad Advertising PLC  04 March 2024

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

 

 Mirriad Advertising plc                                                                       c/o Charlotte Street Partners

 Stephan Beringer, Chief Executive Officer

 Nic Hellyer, Chief Financial Officer

 Nominated Adviser & Broker:                                                                   Tel: +44 (0)20 3328 5656

 Allenby Capital Limited

 James Reeve/Lauren Wright (Corporate Finance)

 Guy McDougall/Matt Butlin (Sales and Corporate Broking)

 Financial Communications:

 Charlotte Street Partners

 Tom Gillingham                                                                                Tel: +44 (0) 7741 659021

 Fergus                                                                                        Tel: +44 (0) 7590 049023
 McGowan

 

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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