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Mirriad #MIRI Market Update – Business well capitalised. Tencent resumes activity following virus disruption. In-video advertising study results.

19th March 2020 / Leave a comment

Mirriad Advertising plc (‘Mirriad’), the computer vision and AI platform company is updating the market on current business performance.

Mirriad continues to make good progress in its key partnership with Tencent Video (“Tencent”) in China. As previously announced to the market, Mirriad has a guaranteed revenue arrangement with Tencent covering the two years ending 31^stMarch 2021. Following initial disruption caused by the sudden impact of the coronavirus in China, Tencent has resumed activity with Mirriad, placing advertising orders over the last two weeks from Luckin Coffee, Mengniu Dairy, Enterprise WeChat and Huawei.

Tencent is continuing to develop the market for Mirriad’s in-video advertising product in China and, in addition to repeat clients, is expecting to continue to acquire new customers over the months ahead. Tencent and Mirriad are working on additional ways to deepen and strengthen their relationship and Mirriad hopes to update the market on specific new developments over the next few months.

Mirriad can also report steady progress in its partnership discussions with a number of leading global entertainment companies. Likewise, interest and demand from certain multinational consumer brands is growing at an equivalent pace.

Mirriad is also pleased to report the highly successful conclusion of a pivotal campaign with a leading advertiser in the USA. The results of the campaign were verified by a renowned independent research company. They will be reported in more detail shortly but showed that a combination of Mirriad in-video and standard spot advertising significantly helped drive frequency of consumption and amounts spent.

This is the first study showing that Mirriad in-video advertising can increase purchase even among heavy users of a product and represents a further argument for the exceptional effectiveness and broad adoption of the solution in the industry.

While Mirriad cannot remain immune to the macro economic issues caused by the coronavirus, our business is well capitalised following the placing of £16.2m of new shares in July 2019 and we continue to make good progress against the plan outlined to investors at that time. That being said, we will continue to actively review our cost base and take steps to preserve cash to ensure longevity throughout this period of significant uncertainty.

Mirriad will release its full year results to the market on 12^th May 2020.

END

About Mirriad

Mirriad’s award-winning solution unleashes new revenue for content producers and distributors by creating new advertising inventory in content. Our patented, AI and computer vision technology dynamically inserts products and innovative signage formats after content is produced. Mirriad’s market-first solution seamlessly integrates with existing subscription and advertising models, and dramatically improves the viewer experience by limiting commercial interruptions.

Mirriad currently operates in the US, Europe and China.

Enquiries:

For further information please visit www.mirriad.com or contact:

Mirriad Advertising plc

Stephan Beringer, Chief Executive Officer

David Dorans, Chief Financial Officer

Tel: +44 (0)207 884 2530

Nominated Adviser & Broker:

Canaccord Genuity Limited

Simon Bridges

Thomas Diehl

Tel: +44 (0)20 7523 8000

Financial Communications:

Charlotte Street Partners

Tom Gillingham Tel: +44 (0) 7741 659021

Andrew Wilson Tel: +44 (0) 7810 636995

Mirriad (MIRI) Investor Newsletter – A Glimpse of the Future

19th December 2019 / Leave a comment

Welcome to our first Investor Newsletter. Going forward we will aim to give you regular additional insight into developments at Mirriad and a glimpse of our exciting future plans.

In March we embarked on a transformative strategy reset, setting incredible pace for the rest of the year. This new approach to growth is balanced by a synchronised demand and supply side strategy, alongside a vision for our technology that will further exploit Mirriad’s uniqueness to unlock scale. It gave us a new and strong focus on China, the UK, France, Germany and, of course, the US as our main markets to develop.

We have changed and accomplished a lot within a remarkably short period of time, thanks to the clarity of our strategy and the steadiness in how we’re executing against our plan.

ENHANCED TECHNOLOGY

Developing our technology to integrate with existing industry frameworks and core systems has been at the centre of our mission this year. Our algorithms are now able to detect and process multiple contextual parameters at high precision for identification of advertiser relevant inventory, and we’ve also completed Segment Streaming Technology APIs that allow scaled delivery to the systems used widely by our partners. These developments are key milestones towards further accelerating scale and automation of Mirriad. Below you can find details on our upcoming Technology Showcase being held in January and we hope to see you there.

MULTIPLE NEW CONTRACTS SIGNED

Our strategic reset led to a wealth of new contracts:

DRIVING GROWTH

These deals have increased demand and interest in our technology in a number of exciting ways:1. The Tencent partnership has been developing very positively from day one, with leading advertisers such as Luckin Coffee, C-Trip and Mengniu Dairy running continual campaigns.
2. We have a new level of demand side interest in the US from 17 of the top 50 US advertisers.
3. We have open contracts with 7 major content platforms in the US and Europe and are in discussions with 5 more streaming services to test our platform.
4. We are receiving a substantial interest from the media, with recent coverage in Business Insider, Beet.TV, New Scientist, MediaPost, and Campaign US, confirming trust in our solution as a future-proof alternative advertising stream.

GLOBAL LEADERS JOIN

In April we announced a radical simplification of the organisation, which included the closure of our commercial operations in Brazil and India. As part of this plan, we welcomed global leaders to the team, namely in our technology and product divisions as well as a new leadership in the US. Details of some of our new team members are outlined below.

John Pearson

Non-Executive Chairman

John joined the Board in October 2017 and took up the chairmanship of the Company’s Remuneration Committee following the IPO. He became Non-Executive Chairman in 2019. He has 25 years of experience in Advertising, was the former Chairman of Shazam, and has had a long history in commercialization of media properties and general business development for rapidly growing companies.

Bob Head

Non-Executive Director

Bob joined the Board in June 2019 and has a wealth of experience acting as a CEO and Non-executive Director to a variety of technology and digital businesses. Bob chairs Mirriad’s Audit and Remuneration Committees.

Niteen Crawford-Prajapati

CTO

Niteen Crawford-Prajapati joined Mirriad in April 2019 and is responsible for the technology vision and for accelerating Mirriad’s core technology development as well as the strategy for integrations with global broadcasters and the digital video ecosystem. With over ten years of experience in the digital media and technology space, he joined following a spell as Chief Architect at the European Broadcast Exchange, where he designed, and built the EBX technology offering from the ground up. Prior to EBX he spearheaded AppNexus and FreeWheel Europe expansions.

Mark Melvin

EVP, Sales and Brand Partnerships

Mark Melvin joined Mirriad mid March 2019 and is in charge of developing the US program and advertiser and agency market for the company. Mark has more than twenty years of experience in the TV and digital media advertising space, following sales and management positions at Fox, ABC, Comcast, and most recently at Music Choice and Fuse Media.

TECHNOLOGY SHOWCASE JANUARY 2020

Overall, we are hugely optimistic about what the future holds for Mirriad in 2020 and beyond and we feel very encouraged by the steady progress that we’re making.To share more on this, we’ll kickstart the year with a technology showcase which we hope you can attend on 16 January, starting at 9:00 with coffee and registration, and ending by 12:00. The event will take place at The Soho Hotel, 4 Richmond Mews, Soho, London W1D 3DH.
Email investorrelations@mirriad.com to register interest, as seating is limited.Thank you for your sustained support and partnership. Wishing you a joyous holiday season and a Happy New Year!

Stephan Beringer and John Pearson
CEO and Chairman

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Tag Archives: LUCKIN COFFEE

Mirriad #MIRI Market Update – Business well capitalised. Tencent resumes activity following virus disruption. In-video advertising study results.

Mirriad (MIRI) Investor Newsletter – A Glimpse of the Future

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