Mirriad Advertising PLC Mirriad Signs Contract With Tier One Media Giant (4495D)

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: [phone] 
  Officer 
 David Dorans, Chief Financial 
  Officer 
 

Nominated Adviser & Broker: Canaccord Genuity Limited

 
 Simon Bridges     Tel: [phone] 
 Richard Andrews 
 Thomas Diehl 
 

Financial Communications: Charlotte Street Partners

 
 Tom Gillingham   Tel: [phone] 
 Katie Stanton    Tel: [phone] 
 

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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October 28, 2020 03:00 ET (07:00 GMT)