Mirriad Advertising (MIRI ) said it will bring content from the Scripps Networks portfolio of TV networks into its in-content marketplace, expanding its clients' access to audiences and premium content in upcoming new holiday movies and TV shows.
Scripps Networks is part of the North American EW Scripps Company (NASDAQ: SSP), which includes news outlets Newsy and Court TV, as well as entertainment brands ION, ION Mystery, ION Plus, Bounce, Bounce XL, Grit, Laff, TrueReal, and Defy TV.
Mirriad said the partnership will enable Scripps to integrate brands and products across ION and Bounce, including in new original holiday movies, in the series "Johnson" and "Finding Happy", as well as the newly-announced comedy "Act Your Age", premiering in the spring of 2023.
The two companies plan to expand their partnership to additional brands within the Scripps portfolio, including Court TV and BounceXL.
Stephan Beringer, CEO at Mirriad, commented: "We are thrilled to announce our partnership with Scripps Networks, a true leader in multi-platform television programming. The Scripps networks showcase some of the highest quality content available in the market and attract large, loyal and diverse audiences."
Jodi Chisarick, SVP and General Sales Manager at Scripps Networks, commented: "Mirriad's in-content advertising solution allows us to create unique, immersive and meaningful new opportunities for our marketing partners both pre and post production."
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Mirriad has added another large media conglomerate to its growing list of supply partners. Mirriad's AI-powered in-content platform places brands directly in content, allowing companies to engage with viewers in scenes that would not be skipped or ignored. Data shows this increases advertisers' reach by 24% on average. Click here to read our detailed coverage of Mirriad's platform.
Scripps joins a list of 47 supply partners Mirriad had at the end of November 2022, up from 18 at the end of 1H22. The number of campaigns the company booked similarly increased to 29 from 23 in FY21, and the number of its advertising agency partners increased to 13, compared to 7 at end of 1H22. Progress across these KPIs should translate to recognised revenue in FY23.
Mirriad ends the year with strong momentum in the key US market as it continues to rebalance away from China. The company's US revenues are expected to grow between 36%-64% in 2022 to between £1.2m-£1.45m, depending on when several outstanding deals will close.
Mirriad is expected to have £11.5m in cash on 31 December 2022, better than forecast, thanks to ongoing efficiency measures and a cost control programme that will deliver £2.5m of total annualised savings (mostly in 2023).
As streaming opens up to advertising, Mirriad's patented platform is well-placed to benefit from the needs of a global advertising industry that is facing challenges of ad-skipping, dwindling viewer attention, and oversaturation of limited ad space. Independent research has shown that in-content placements are preferred by viewers and drive more favourability, consideration, and sales.
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