Mirriad has announced its inclusion in the 2024 TV Upfronts, signaling a major shift in how media companies promote the innovative ad format to media buyers. The incorporation of virtual product placement (VPP) in these key industry presentations not only highlights its increasing popularity but also emphasizes its effectiveness as a strategic advertising tool across the TV and video media ecosystem.
BUILDING ON PARTNERSHIP GROWTH
Approximately six months ago, Mirriad’s signed content partners accumulatively held about 10% share of the TV advertising market. Today, that figure is 40%. Following a slate of new partnership agreements at the end of 2023 and strong continued momentum in 2024, the AI-powered solution is being positioned as an innovative media format for advertisers to enhance their reach and engagement with today's fragmented audiences. Partners showcasing Mirriad in their upfront presentations include a wide range of premier US networks renowned for their portfolios of studios, channels, and streaming platforms. Additionally, a leading digital media supplier that is minority and female-owned within Mirriad’s Diverse Supplier Marketplace will include VPP in their presentations.
A GAME-CHANGER FOR ADVERTISERS AND MEDIA COMPANIES
The advertising solution for the streaming age, Mirriad dynamically inserts brands into a vast range of premium Television, SVOD/AVOD, Music, and Influencer content without interrupting the viewing experience or adding to frequency and ad-loads, and while driving exceptional performance for advertisers. A compelling recent example is a new Toyota x Mirriad campaign that achieved 94% Ad Awareness through virtual product placement and virtual signage. On average, the ad format feels natural to 83% of viewers and is non-intrusive to 79% according to Kantar. Furthermore, Mirriad is introducing the next level of virtual advertising through its programmatic capabilities since 2023.
Content creators greatly benefit from virtual product placement. By integrating ads directly into content, media companies generate revenue while driving viewer loyalty and unlock a new ad format in high demand among advertisers. This model is particularly appealing in an era where many viewers prefer ad-free subscription-based platforms.
INDUSTRY EXCITEMENT OVER NEW POSSIBILITIES WITH VPP
The inclusion of Mirriad in the upfronts signifies that many see virtual product placement as a forward-thinking solution in the shifting media landscape. Advertisers are increasingly excited about the possibilities for hyper-contextual ads that do not interrupt the viewing experience. This approach offers a seamless integration of brand messages directly within the content, promising more authentic engagement and enhancing viewer perceptions of advertisements.
LOOKING AHEAD
Collaborating with the world's most advanced media companies, Mirriad is thrilled to be a part of these industry presentations. From enhancing content monetization and being more preferred among viewers (7x over traditional ads) to driving incredible immediate results for advertisers (up to 35% increase in sales following exposure), Mirriad is a solution that brings value to everyone.
The implications of virtual product placement are vast. The ability to integrate ads seamlessly into content could help reshape the economic model of the entire entertainment industry.
IN CLOSING
Mirriad’s debut in the 2024 upfronts is more than just a technological showcase; it's a pivotal moment for the advertising arena, pointing towards a future where ads are a natural part of the primary entertainment experience. As the industry watches closely, Mirriad is setting the stage for what could be the new norm in advertising.
