Mirriad Advertising PLC (AIM:MIRI, FRA:8WQ, OTCQX:MMDDF) has confirmed the launch of a new pricing model delivered in partnership with Tencent in China.
The new cost-per-thousand (CPM) model, which was first flagged during the company’s half-year results, is an important next step in its renewed partnership with Tencent Video, Mirriad said.
It will offer advertisers in China an easier and more seamless way to take advantage of Mirriad's proprietary in-content advertising solution, it added.
In-content advertising is an artificial intelligence-driven technology that embeds contextual brand imagery into film, TV, music and social media.
CPM is a commonly used advertisement buying methodology, and so Mirriad expects the newly established model to be “significant” as will allow advertisers to book its in-content advertisements as they would with any other digital media campaign.
“The resulting ease with which Tencent clients can plan, buy, sell and scale in-content campaigns offers a template for how Mirriad's proposition can be further integrated into the global marketing ecosystem,” the company said.
These campaigns will allow brand messages to appear in front of the right audiences with specific targeting available, including gender and geography targeting, it added.
Chief executive Stephan Beringer said the CPM rollout “is a pivotal change” and part of Mirriad’s strategic runway to achieve scale.
“It ensures Mirriad becomes a 'line item' in the ad buying process, making our in-content proposition even more convenient for advertisers,” he explained.
“From this year, we will see more customers and markets adopting the CPM pricing model as we continue to accelerate the adoption of Mirriad's format.
"We know that Mirriad solves key challenges in marketing including ad fatigue and consumer aversion to anything that interrupts them. With viewers actively preferring our in-content format, this model helps us build on those very strong fundamentals.”
As part of the Tencent Video deal, advertisers are now able to use the CPM pricing model across the top 20 most popular drama programmes, continuously refreshed as new shows are released.
The new model was first used with online classifieds site 58.com from 28 September.