Mirriad Advertising PLC Mirriad Signs Contract With Tier One Media Giant (4495D)
October 28 2020 - 3:00AM
UK Regulatory
TIDMMIRI
RNS Number : 4495D
Mirriad Advertising PLC
28 October 2020
This Announcement contains inside information as defined in
Article 7 of the Market Abuse Regulation No. 596/2014 ("MAR"). Upon
the publication of this Announcement, this inside information is
now considered to be in the public domain.
Mirriad signs NEW contract with US-BASED tier one ENTERTAINMENT
AND MEDIA GIANT
28 October 2020
Mirriad Advertising plc
("Mirriad" or the "Group")
Mirriad secures 'breakthrough' commercial agreement with a
leading diversified entertainment and media enterprise
Mirriad, the computer vision, technology and AI platform
company, is pleased to announce it has today signed a new two-year
commercial agreement with one of the largest and best-known
US-based content producers and distributors which has significant
global reach.
This new agreement provides a set commercial framework for
Mirriad to start working with this new global partner to develop
its in-video advertising on a number of popular entertainment
series, with a view to expanding its in-video advertising into
additional content over time.
Stephan Beringer, CEO of Mirriad, said: "This breakthrough
commercial agreement with this tier one partner is yet another
indicator of how our technology is increasingly recognised as a
major game-changer by the biggest global players in the world of
media and entertainment. Finalising this agreement, despite all of
the ongoing challenges posed by the COVID-19 pandemic, is testament
to how compelling our technology is as a proposition, and how the
Mirriad team continues to deliver effectively.
"This agreement is a decisive step forward in expanding
Mirriad's US and global footprint, opening up some of the most
exciting content imaginable in the world's biggest advertising
market to our patented in-video advertising technology. Following
the positive recent agreements with the likes of Tastemade, Fuse
media and Meredith, this significant milestone for such a household
name builds on the fantastic momentum the company is seeing under
our ambitious new strategy."
While there is no immediate income linked to the signing of this
agreement, it instead sets out the terms and conditions for doing
business. It covers both network syndication and streaming,
allowing the new tier one partner to expand the use of Mirriad's
technology to any of its US distribution platforms and content.
In the first phase, four high rating programmes are being
cleared for release to the advertising market.
Building on the momentum generated by this important
announcement, Mirriad will now seek to develop its ongoing
discussions with other leading entertainment and media partners in
the US.
ENDS
For further information please visit www.mirriad.com or
contact:
Mirriad Advertising plc.
Stephan Beringer, Chief Executive Tel: +44 (0)207 884 2530
Officer
David Dorans, Chief Financial
Officer
Nominated Adviser & Broker: Canaccord Genuity Limited
Simon Bridges Tel: +44 (0)20 7523 8000
Richard Andrews
Thomas Diehl
Financial Communications: Charlotte Street Partners
Tom Gillingham Tel: +44 (0) 7741 659021
Katie Stanton Tel: +44 (0) 7789 204508
Notes to editors
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.
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END
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