MIRI Mirriad Advertising Plc

TIDMMIRI

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 or contact:

 
 Mirriad Advertising plc                           Tel: +44 (0)20 7884 
  Stephan Beringer, Chief Executive Officer         2530 
 Nominated Adviser & Broker:                       Tel: +44 (0)20 3328 
  Allenby Capital Limited                           5656 
  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 
  Fergus McGowan                                     659021 
                                                     Tel: +44 (0) 7590 
                                                     049023 
 

* 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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December 06, 2023 02:00 ET (07:00 GMT)

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