REG - Mirriad Advertising - US and Latin America supply-side update

Mirriad AdvertisingAnnouncement

06/12/2023 07:00

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RNS Number : 7894V  Mirriad Advertising PLC  06 December 2023

6 December 2023

 

Mirriad Advertising plc

("Mirriad" or the "Company")

 

US and Latin America supply-side update

 

Mirriad, the leading in-content advertising company, today provides a new
update on supply-side momentum in the US and Latin America, highlighted by a
further two new master service agreements* ("MSAs") and an expansion of scope
with an existing US partner, alongside a notable increase in partner-driven
sales activity.

 

The first new MSA is with one of the most prominent American English-language
commercial television networks in the US. Its broadcasts and streaming service
reach around 120 million US households, with a strong foundation amongst
highly sought-after viewers in the 18-34 age group.

 

The second MSA is with the Latin American arm of a major global entertainment
and media company, which owns one of the top streaming platforms in the world.
The company also has many Latin American 'originals' including fiction series
and live shows in production, and runs multiple TV channels and streaming
services.

 

In addition to these new agreements, Mirriad is expanding an existing
relationship with an American multinational broadcasting and mass-media
company, ranked in the top 10 by advertising revenue in the US.  After
demonstrable success across holiday content, that company is increasing its
in-content activities by expanding the use of Mirriad's platform across its
wider content portfolio including lifestyle, DIY, and other popular
categories, with active plans to sell programmatically in the future.

 

In-content sales proactively generated by Mirriad's partners in the ten months
to October 2023 have grown by 53% vs the full twelve months of FY2022 and the
Company expects these sales to continue at a similar level going forward. This
underlines the growing penetration of the in-content format and its increasing
integration with partners' strategies and structures.

 

Following the recent tier one master licence and services agreement
announcement on 16 November 2023, the Company retains a strong pipeline, with
several further tier one US agreements in active negotiation.

 

Stephan Beringer, CEO at Mirriad, said: "These new agreements, combined with
those announced in November, demonstrate our progress towards establishing
in-content as a standard format across the industry, and the increase in
partner-driven sales reflects the cumulative effect of previous agreements
beginning to pay off.

 

"The scale of inventory - with popular programmes from multiple
industry-leading media companies - paired with these partners' investments in
driving sales and the clear path to programmatic transactability of streaming
inventory, are all long-targeted indicators of Mirriad's readiness for scale.

"It's important to understand the significant resources of the companies we
are partnering with, and the US market's importance in establishing Mirriad's
proposition as a globally leading platform and solution. For market context,
the top three entertainment media companies in the US, one of which we're
already working with, generate over six times the revenue of the top three in
the UK. All globally leading streaming platforms are US-based, as are the key
advertising platforms and most supporting innovations have originated in the
US market. Our prioritisation of key players in this geography is pivotal to
moving from market building to a growth phase."

 

 

ENDS

 

 

For further information please visit www.mirriad.com (http://www.mirriad.com)
or contact:

 

 Mirriad Advertising plc                                                                       Tel: +44 (0)20 7884 2530

 Stephan Beringer, Chief Executive 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

* Mirriad's MSAs set out the legal and commercial terms governing
partnerships. They do not include specific levels of spend.

 

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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