NEW YORK, NY - October 31, 2024 —Mirriad, the leader in virtual product placemen...
Ahead of the new year, Mirriad is excited to announce a slate of updates on the supply-side momentum with new partners spanning across the US and in Latin America. These partners represent some of the leading in US entertainment and boast impressive audiences with established market authority.
In November, Mirriad signed a partner that sits in the top three entertainment networks in the US and another in the top ten. December marks two new agreements, an expanded scope with a partner, and an increase in sales activity driven by collaborative efforts with partners.
This demonstrated progress marks a notable stride toward establishing in-content advertising as a standard industry format.
MOST RECENT NEW AGREEMENTS MARKING STRATEGIC GROWTH
1. Top Three Entertainment Network
One of the agreements is with a conglomerate holding over a 15% share of revenue in the US TV advertising market, according to Statista. The networks connects with billions of people globally, via its studios, networks, streaming services, live events, and merchandise. Its streaming service is one of the fastest growing in the industry and the company ranks among the US top three media companies by advertising revenue, according to Statista.
2. Top Ten Entertainment Company
Operating in over 125 countries worldwide, the new Mirriad partner is home to iconic and fan-favorite brands across television, independent film, production, distribution, gaming, and publishing. The network is behind some of the most celebrated and acclaimed original film and TV content and its streaming service includes the best content from its seven networks.
3. American Broadcast TV Network
Mirriad has also solidified its position with one of the most prominent American English-language commercial television networks. With programming and streaming services reaching 120 million US households, the network holds a strong foothold among coveted younger viewers aged 18-34.
4. Latin American Content and Entertainment Brand Owner
In a strategic move, Mirriad has entered into a new agreement with the Latin American arm of a prominent content and entertainment company, one that owns one of the largest streaming services worldwide. Broadcasting on multiple TV channels and streaming across Hispanic America and Brazil, this entity boasts over 70 Latin American 'originals,' including fiction series, documentaries, and live shows, showcasing its regional influence.
WHAT'S NEXT EXPANDING PARTNERSHIPS AND EXISTING PARTNERS
Mirriad isn't just forging new alliances; it's also expanding its existing relationship with a major American multinational broadcasting and mass-media company. Ranked among the top 10 in advertising revenue in the US, the company witnessed success with Mirriad during holiday content campaigns. As a result, it's broadening its in-content activities, extending the use of Mirriad’s platform across a diverse content portfolio, including lifestyle, DIY, and other popular categories. Future plans include programmatic selling, reflecting the growing integration of in-content advertising into partners' overarching strategies.
Through these partnerships, Mirriad delivers a seamless end-to-end solution encompassing content analysis, campaign management, online access to inventory opportunities, creative execution of digital assets, and campaign reporting.
These collaborations will further solidify in the industry the important role that in-content advertising can play in today’s digital advertising market. Virtual product placement delivers highly contextual advertising opportunities for advertisers, redefining the advertising experience in ways that are proven to be favorable to viewers resulting in higher campaign effectiveness.
VIRTUAL PRODUCT PLACEMENT IN ACTION
Mirriad's recent study with Kantar uncovered groundbreaking insights: 86% of viewers avoid traditional ads by leaving the room (89%), ad-skipping (88%), and switching channels (81%). This avoidance is driven by negative perceptions such as feeling ads are repetitive (42%), over-saturated (40%), and intrusive (25%).
However, in-content advertising drives positive perceptions leading to higher campaign performance. Virtual integrations are liked by 75% of viewers and preferred 7x over traditional ads. Viewers agree that the new ad format feels natural (83%) and is non-intrusive (79%). This favorable outlook results in up to a 35% increase in Actual Purchase following exposure and a 25 ppt increase in Ad Awareness on average. The format also delivers a +20 ppt boost in sales conversion when combined with TV spots and an average increase of +14ppt in TOM Awareness.
WHAT'S NEXT SALES MOMENTUM AND FUTURE OUTLOOK
Virtual product placement (VPP) and in-content advertising sales driven by Mirriad’s partners have grown by 67% YoY since 2022. This uptick underscores the accumulating impact of previous agreements and successfully executed campaigns. Leveraging the networks and infrastructure of these companies to drive more sales also emphasizes the advancing maturity of the in-content format and its deepening integration with partners' strategic plans and structures.
Following the recent tier-one partnership announcement, Mirriad has a strong pipeline, with ongoing negotiations for additional tier-one agreements in the US.
WHAT'S NEXT INSIGHTS & PROSPECTS FROM MIRRIAD'S CEO, STEPHAN BERINGER
“These new agreements, combined with those we announced in November further underline progress towards establishing in-content as a standard format across the industry. The scale of inventory with popular programs from multiple industry-leading media companies, paired with these partners’ investments in driving sales and the clear path to programmatic transactability of streaming inventory are all long-targeted indicators of Mirriad’s readiness for scale.
It’s important to understand the significant resources of the companies we’re working and negotiating with, and the US market’s importance in establishing Mirriad’s proposition as a globally leading platform and solution.
Our careful prioritization of key players in the market means we are now tapping into new levels of scale, even ahead of full programmatic deployment. As the effectiveness of traditional ad formats continues to fall, advertisers are eager to buy formats that are favorable and effective with viewers, packaged at scale within big and easily deployable deals.
We’re excited for what 2024 holds with more major partners, programmatic activation of the format and further establishing in-content as a new golden standard ad format.”
WHAT'S NEXT
With strategic growth through new partnerships and expanded collaborations, the stage has been set for accelerated growth and the evolution into programmatic in 2024. These developments, coupled with a boost in sales momentum, reflect the growing integration of in-content advertising into partners' strategies.
Mirriad's mission is to deliver exceptional results for advertisers, drive incremental revenue for content partners, and foster an enhanced experience for viewers. To work with us, visit our Advertiser page, Content Partner page, or contact us here.
