Mirriad Advertising partners with Magnite to sell its advertising inventory
Mirriad Advertising (MIRI) will collaborate with Magnite, Inc., the world’s largest independent sell-side advertising platform, to bring scale and automation to the in-content advertising format through programmatic advertising campaigns on multiple platforms, channels and marketplaces.
The in-content advertising company, which describes this latest partnership as “a crucial step”, says the integration will bring scale and automation to the in-content advertising format.
Under the terms of the agreement, Mirriad will make advertising inventory available for sale through the Magnite platform, which facilitates the programmatic sale of in-content advertising.
Publishers around the world use NASDAQ-listed Magnite technology to monetize their content across all screens and formats, including CTV, online video, display and audio. The company has a global footprint with offices in North America, EMEA, LATAM, as well as APAC.
The deal is significant as it will introduce Mirriad’s offering into the digital media ecosystem. Mirriad says the deal therefore represents a real step on his way to scale.
Commenting on the partnership, Stephan Beringer, CEO of Mirriad, said, “Our collaboration with Magnite is a breakthrough in terms of our ability to enable in-content inventory programmatically. By scaling across platforms, we can drive more valuable advertising inventory, from a wider range of video content, to advertisers and their agencies.
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Over the past few weeks, Mirriad has told investors she has seen the group’s revenue in North America – the world’s largest advertising market – rise significantly by 182% to £0.884 million over the past few weeks. of exercise 21.
As Mirriad continued to execute on its growth strategy during the period, operating losses widened to £12m from £9.1m in FY20, while consumption cash increased to £10.6 million. The in-content advertising company broadly maintained year-on-year revenue at £2.0m in FY21.
Operationally, Mirriad has seen a significant increase in its global supply partners, and the company now has access to content from 46 content partners globally, it reported today. The number of advertisers placing campaigns also more than doubled to 45 during the year.
Stephan Beringer, CEO of Mirriad, hailed the “growing momentum” in Mirriad’s key North American market since the second half of 2021, saying this is underscored by the new partnership in Canada and “subsequent activation” around the Super Bowl in the United States. .
Data in 2022 provided by marketing research firm Nielsen said Mirriad’s U.S. campaign revenue increased more than 800% during the 2021 holiday season compared to 2020.
In particular, the company’s content campaigns across major channels, Hallmark and Lifetime, for major advertisers in the finance, cosmetics, and food and beverage industries, respectively, delivered “outstanding results,” as evidenced by the data provided by Nielsen.
In terms of the outlook, Mirriad said current year trading through December 2022 remains in line with current market expectations, with the good momentum continuing, particularly in the United States.
The company’s primary goal is to accelerate the integration of its product into the linear and programmatic media ecosystem while setting a new standard in the advertising industry.
A recent white paper published by the company highlighted the effectiveness of in-content advertising in driving audience engagement and business growth for brands.
It seems that consumer viewing habits continue to change in the television advertising space. In the US, linear impressions (traditional TV ads) for the 18-49 age group have declined by 49% in just five years and are expected to drop another 22% over the next two years.
In response to the findings, CEO Beringer said the clear gains in reach and impact that Mirriad can deliver “are extremely important at a time of change in the advertising industry.”
In fact, across all Mirriad campaigns measured, the company found that average consumption increased by 16 percentage points (ppt), ad awareness increased by 27 ppt, and spend increased by 15 ppt.
Notably, the results demonstrate that in-content advertising can not only be a highly effective way to reach and engage consumers, but can also drive consumers to purchase.
Beringer thinks this is just the beginning – he says with the rise of connected TV and streaming services, investors can expect further digital growth on new platforms.
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