UK-based Mirriad Advertising raises $15M led by IP Group
Mirriad Advertising Ltd, a technology company reshaping the future of video advertising, has announced that it has closed $15 million in financing as of January 2016, led by IP Group PLC, alongside Parkwalk Funds, with a minority investment from Unilever Ventures, the venture capital and private equity arm of Unilever.
It is estimated that over $95 billion will be lost to ad skipping by 2019. According to the 2015 Adblocking Report by PageFair and Adobe, as of June 2015, there were 198 million active adblock users around the world, a 41% year on year growth. Added to that, viewers are migrating from linear television with traditional commercials to on-demand, DVRs and digital platforms like Netflix, Hulu and YouTube. Traditional ads can now be skipped, blocked, avoided or just tuned out. As a result, video advertising inventory is shrinking, revenues are down and the value of remaining traditional commercial spots is in question. Advertisers and content owners are at a crossroads and looking for solutions as the traditional advertising model continues to shift.
As evidenced by its latest round of financing, Mirriad is well-positioned to create unique new advertising inventory for content owners, deliver content for advertisers that won’t fall victim to ad skipping and ad blocking, and maintain the concerns of viewers by reducing reliance on traditional commercials that detract from the viewing experience.
“The traditional advertising model is changing rapidly,” said Mark Popkiewicz, CEO, Mirriad.
“The combination of ad blocking, the live pause function, on-demand, and a range of subscription and streaming services like Amazon Prime, Netflix and Hulu are costing the industry millions. Now more than ever, advertisers and content owners alike need solutions to help them navigate the changing landscape. This round of financing further demonstrates Mirriad’s leadership in the new world of advertising.”
Mirriad is investing the capital into further technology designed to increase the scale of its native in-video advertising (NIVA) offer and build sales and content partnerships with leading content owners and distributors in major markets.
Mirriad’s proprietary technology provides brands an integrated approach to reach audiences while creating additional revenue opportunities to content owners and distributors. Where consumers often skip ads that interrupt their shows and videos, Mirriad digitally integrates brands directly into premium video content by embedding products, signage and even video.
And, where broadcast and digital networks often struggle to open up premium content to fulfill advertising demand, Mirriad creates new advertising inventory and generates more revenue in the process. Mirriad’s NIVA can generate up to 10% more top line revenues for major distribution platforms without disrupting the audience experience.
Mirriad is helping brands and advertisers reach consumers in new and different ways. With Mirriad delivering relevant brand mentions, brands can maintain the authenticity of the program by guaranteeing a relevant viewer experience, while opening up unused appropriate advertising real estate. And, while traditional product placement is a one-off opportunity, Mirriad can further monetize multi-title content across multiple platforms and geographies for years to come, offering brands a way to amplify the proven product placement concept.
Launched in 2008 with a mission to revolutionize video advertising, Mirriad’s patented technologies create a new standard in advertising where a brand integration is transformed into an affordable, scalable ad unit running across multi title content. The resulting ads are seamless, authentic, and work across all three screens and can be traded in the same way as other mainstream advertising inventory.
Mirriad has deals with major US content producers and has worked with top broadcasters in over 20 countries. It’s also the chosen native ad solution for Youku, China’s leading entertainment platform, who with over 500m unique visitors per month is already almost half the size of YouTube. Mirriad has offices in London, New York, Mumbai, Singapore, and new offices opening in Shanghai.
Mirriad’s investors include IP Group PLC, Parkwalk Funds, Unilever Ventures and Edge Investment Management.
Source: Mirriad Press Release