Mirriad finalises deal with major US media conglomerate

4th Mar 2024 12:39

(Sharecast News) - In-content advertising specialist Mirriad announced a significant two-year agreement with an unnamed major US media and entertainment conglomerate on Monday.

The AIM-traded company said the conglomerate boasted a vast array of assets, including movie studios, television channels and streaming platforms, making it a powerhouse in the industry.

It said the deal was based around its platform, which would be used by the conglomerate to identify virtual product placement opportunities and integrate in-content advertising into its diverse content offerings.

The partnership would open up new avenues for both parties, leveraging Mirriad's expertise in advertising technology and the conglomerate's extensive reach and audience engagement, the board explained.

It said that, with 95 million direct-to-consumer video streaming subscribers and over 20 networks in the US, each averaging more than 100 million viewers weekly, the conglomerate had a formidable audience base.

Moreover, it hosted the majority of the top-rated TV networks, consolidating its position as a major player in the media landscape.

The collaboration extended beyond mere agreement terms, as Mirriad said the conglomerate had pledged substantial resources, including its sales and marketing teams, to maximise the potential of the in-content inventory.

Starting this month, the partnership would kick off with the integration of Mirriad's solutions into one of the conglomerate's highest-rated programmes, distributed across both traditional television and digital platforms.

The board said the latest agreement added to Mirriad's momentum, following a previous partnership announcement on 16 November.

Together, the collaborations extended Mirriad's reach into two of the largest media companies globally, boasting a combined TV and streaming advertising business valued at nearly $19bn.

"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," said chief executive officer Stephan Beringer.

"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 the fourth quarter of 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."

Beringer said negotiations with another US major were 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 within touching distance of achieving this."

At 1211 GMT, shares in Mirriad Advertising were up 15.31% at 1.5p.

Reporting by Josh White for Sharecast.com.