Business
Market Update
Market Update.
About this update from Mirriad Advertising Plc
[{"type":"text","content":"\n \n \n RNS Number : 6761G\n Mirriad Advertising PLC\n 19 March 2020\n \n \n \n \n \n \n \n Mirriad Advertising plc\n \n \n \n \n \n \n 19 March 2020\n \n \n \n \n \n \n Mirriad Advertising plc\n \n \n \n (\"Mirriad\" or the \"Group\")\n \n \n \n \n \n Market update\n \n \n \n \n \n Mirriad Advertising plc ('Mirriad'), the computer vision and AI platform company is updating the market on current business performance.\n \n \n \n Mirriad continues to make good progress in its key partnership with Tencent Video (\"Tencent\") in China. As previously announced to the market, Mirriad has a guaranteed revenue arrangement with Tencent covering the two years ending 31st March 2021. Following initial disruption caused by the sudden impact of the coronavirus in China, Tencent has resumed activity with Mirriad, placing advertising orders over the last two weeks from Luckin Coffee, Mengniu Dairy, Enterprise WeChat and Huawei. \n \n \n \n Tencent is continuing to develop the market for Mirriad's in-video advertising product in China and, in addition to repeat clients, is expecting to continue to acquire new customers over the months ahead. Tencent and Mirriad are working on additional ways to deepen and strengthen their relationship and Mirriad hopes to update the market on specific new developments over the next few months.\n \n \n \n \n Mirriad can also report steady progress in its partnership discussions with a number of leading global entertainment companies. Likewise, interest and demand from certain multinational consumer brands is growing at an equivalent pace. \n \n \n \n \n \n Mirriad is also pleased to report the highly successful conclusion of a pivotal campaign with a leading advertiser in the USA. \n The results of the campaign were verified by a renowned independent research company. They will be reported in more detail shortly but showed that \n a combination of Mirriad in-video and standard spot advertising \n significantly helped drive frequency \n of consumption and amounts spent. \n \n \n \n This is the first study showing that Mirriad in-video advertising can increase purchase even among heavy users of a product and represents a further argument for the exceptional effectiveness and broad adoption of the solution in the indust...