NEW YORK, June 25, 2021
/PRNewswire/ -- Mirriad Advertising plc (US OTCQX: MMDDF, UK
LSE: MIRI) Mirriad, the leading in-content advertising company,
today announces that it has reached a new commercial agreement with
Tencent.
Tencent is China's biggest online video streaming
platform by subscriptions and, after two years of successful
collaboration with Mirriad, this agreement renews the maturing
relationship for a further two years, and is backdated to commence
from 1st April 2021.
During the previous contract term, Tencent introduced Mirriad's proprietary
in-content advertising solution to its advertisers, offering
innovative video advertising services in China.
Tencent and Mirriad will now work
together to further scale in-content advertising in the
fast-growing Chinese market. This enhanced agreement enables a move
to a revenue share model for both parties, removing the previous
minimum volume and exclusivity clauses, to align with the
commercial terms Mirriad has in place with other large partners in
US and European markets.
The revenue share agreed in this deal will be consistent with
those in other Mirriad standard commercial contracts previously
disclosed to the market.
A notable further part of the agreement is a commitment from
both parties to develop a sales model based on audience reach
delivered to advertisers in the Chinese market, allowing
Tencent to widen the range of content
it can monetise using Mirriad's patent protected and
award-winning in-content advertising technology.
Stephan Beringer, CEO of
Mirriad, said: "This new agreement underlines how much we
achieved in our first contract term with Tencent and I'm excited about how we can continue
to create new routes to grow revenue together. This includes
audience based-buying and delivery, which allows us to scale across
more of Tencent's content and it takes us further towards our
ultimate goal of programmatic advertising.
"In a rapidly evolving advertising territory, we've introduced a
record number of brands, including the biggest names in key
categories and, most importantly of all, demonstrated how
integrating with the Tencent
advertising stack can be a blueprint for mass adoption in other
markets."
About Mirriad
Mirriad's market-first solution seamlessly integrates with
existing subscription and advertising models, improving the viewer
experience by limiting commercial interruptions whilst delivering
dramatically increased reach and impact for advertisers.
Mirriad currently operates in the US, Europe and China.
Enquiries:
For further information please
visit www.mirriad.com or contact:
Mirriad Advertising plc
Stephan Beringer, Chief Executive
Officer
David Dorans, Chief Financial
Officer
Ryan Mendy, US Investor
Relations
investorrelations@mirriad.com
Tel: +44 (0)207 884 2530
#OTCQX, $MMDDF, $MIRI, #MMDDF, #MIRI, #MIRRIAD, #ADVERTISING,
#PROGRAMMATIC #TENCENT
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SOURCE Mirriad Advertising plc