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Mirriad Advertising sees good momentum in the US

Mirriad Advertising, a specialist in in-content advertising, said strong US sales growth maintained revenues in 2021 even with the continuing impact of Covid-19. Revenue for the year was £2mln (2020: £2.2m), with the US contribution at £884,000 or up by 182%. Mirriad is still early in its development and operating losses widened to £12mln (2020 £9.1mln) with cash consumption also higher at £10.4mln (2020: £8.1mln) as it spent heavily on its expansion plans. Cash at the year-end was £24.5mln. Stephan Beringer, chief executive, said the company made good progress building the number and breadth of leading supply partners working with Mirriad. “Our strategy remains very focused on driving adoption and integrating with the media buying ecosystem to make the inventory accessible to the entire market and to automate the transactions programmatically. “With the simultaneous rise in connected TV and streaming services, we expect further opportunities for us from growth across these new platforms.  “Looking at 2022, Mirriad expects to capitalise on the significant opportunities in the North American market and our launch into the programmatic realm. “We will also continue to nurture strong existing relationships in Europe and manage the move away from a minimum revenue guarantee model with Tencent in China.” Mirriad said it will also publish six key performance indicators (KPIs) in the future. On the supply side, these will be active supply partnerships, supply of partners represented and seconds of content available Demand KPIs will be active agency relationships, the number of agencies that have run campaigns and strategic and commercial partnerships. All of the supply KPIs rose by 54% or higher in 2021, said Mirriad, while on the demand side the number of campaigns jumped by 114% and ad agency relationships by 36%. Trading in the current year to December 2022 is in line with market expectations the statement added.