Mirriad Advertising (MIRI) has published the findings of research conducted by Kantar Context Lab in January 2021, highlighting the effectiveness of its patented technology.
The company said the results from the study, which sampled Mexican-Americans aged 21-34 with an interest in regional Mexican music, showed that Mirriad's solution increased consumer awareness of inserted brands by 56%, whilst also driving a 12% uplift in purchasing intent.
It also found a 65% rise in those who actually consumed the featured products within 30 days of seeing the advertising, and with growing consumer aversion to interruptive advertising, another stand-out finding was that 85% of viewers liked the in-content integrations, it said.
As part of the research, extensive testing was recently undertaken with one of the world's leading food and beverage companies. Following the positive results, Mirriad informed investors that this unnamed brand has since signed an innovative framework agreement with the objective to use the Mirriad solution across different media partners in the United States.
Additionally, Mirriad said its solution was also successfully tested with Mexican beer brand Tecate immersing their brand into Giovanny Ayala's latest music video at the start of this year.
Stephan Beringer, Chief Executive of Mirriad Advertising, stated, "We know how powerful the Mirriad format is, but it's always satisfying to see it spelled out in black and white.”
He added, “At a time when cookies are being phased out by Google, and many adverts are actively ignored, our proven ability to drive valuable connections with audiences in a format they actively prefer can be a real game-changer.
"The fact we are now working with another truly global company - this time driven from the demand side - underlines how Mirriad's ability to prompt consumer decisions and awareness is recognised by some of the biggest global advertisers, content platforms and content creators."
Shares in Mirriad Advertising have increased by over 20% in value since the start of 2021. The stock was trading 2.48% lower this morning at 53.15p following the announcement.
In its recently published results for the year ended 31 December 2020, Mirriad Advertising highlighted to investors that it is “well-placed” to benefit from the expected advertising sector recovery in the second half of the year after the business hailed its progress throughout 2020.
Post-period in April 2021, Mirriad qualified to trade on the OTCQX® Best Market in the US, a market which is home to international brands such as Roche, Adidas and Heineken.
Looking ahead, Mirriad’s focus in 2021 will be to establish itself as ‘the media solution for a new era in audience engagement.’ It said it will achieve this by stimulating direct demand and putting in place the sales architecture and data capability to scale within a competitive market.
In a note published last week, Edison Investment Research said Mirriad’s EBITDA loss of £8.6m, a 25% reduction, was ‘notably better’ than consensus forecast loss of £10.2m. It said this reflects ‘careful husbandry of resources during the pandemic’, after restructuring in FY19.
Analysts said FY20 had built recognition for Mirriad’s technology among platforms, brands and agencies, culminating in the agreement signed with a tier 1 entertainment group in Q420.
The research firm added that Mirriad's £24.8m placing will enable it to further develop its technology while positioning its in-content advertising inventory 'centrally within the ecosystem.'
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