Mirriad Advertising (MIRI ) announced it has delivered its first in-content advertisements via an end-to-end programmatic transaction.
Mirriad's in-content platform increases advertisers' reach by virtually placing brands in video content, driving engagement with viewers in scenes that would not be skipped or ignored.
Programmatic advertising uses an automated process to purchase digital ad inventory across web, mobile, apps, video, and other digital channels. While traditional methods generally entail manual processes, programmatic buying uses automation and machine learning to more efficiently buy and sell the inventory.
Stephan Beringer, CEO, commented:
"This is a significant milestone for Mirriad, delivering our first placements through an end-to-end programmatic transaction. We've always said that connecting our platform with the programmatic media ecosystem is the key to delivering scale to our game changing solution. Today, we are seeing the first results of that."
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This is an important milestone for Mirriad. Connecting its platform with the digital media ecosystem is a key step in the company's strategy to include in-content as part of programmatic ad buying. For its first programmatic transaction, Mirriad delivered in-content advertising into the programming of a major global network, paving the way for future commercial transactions.
We recently examined Mirriad's in-content platform and concluded it was a transformational and promising technology set to change the landscape of advertising. Mirriad's AI-powered in-content solution places brands in the program, allowing companies to engage with viewers in scenes that would not be skipped. Data shows this increases advertisers' reach by 24% on average, benefiting from significantly higher attention and engagement, even during the crowded holiday season.
As a trail blazer in the space, Mirriad is well-positioned to reap the benefits of the industry's adoption of in-content advertising. The company has continued to score clients in the US, including top-tier brands. As a result, its US revenues grew by 57% in 1H22 to £418K, now accounting for 72% of total revenue. Mirriad reported active engagement with all major agency groups in the US, including Magnite, the world's largest independent sell-side ad platform. The company also had its first campaign in Canada in February 2022.
Mirriad also reported improvements across all non-financial KPIs in 1H22, on both supply and demand sides. Active supply partnerships grew 38%, supply partners represented increased 79%, and seconds of content available grew 27%. On the demand side, the number of advertisers who ran campaigns increased 35%, and commercial partnership agreements with advertisers and agencies increased 50%.
Mirriad remains well-funded with £17.7m in cash and a cost control programme designed to deliver £2.5m in annual savings. Overall, the company is well-positioned for continued growth in North America and Europe.
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