Shares in Mirriad Advertising PLC (AIM:MIRI, OTCQX:MMDDF) jumped more than 10% in opening deals after the in-content advertising company announced a surge in US revenues and a first major partnership in Canada.
US campaign revenues jumped more than 800% during the 2021 holiday season compared to the year before, thanks to content on the Hallmark and Lifetime channels and the Super Bowl, a statement said.
“The core markets we're selling into are worth US$145bn a year, and we're confident that we are fundamentally pioneering a solution that will become a standard in the industry," Stephan Beringer, CEO said.
“The progress comes on the back of data that shows that Mirrad's in-content solution demonstrably enables advertisers to reach more of their target audiences in a format viewers enjoy watching, thus delivering outstanding campaign performance."
The new data from Nielsen for the US holiday campaigns showed the audience reach using the Mirriad in-content format was up to 39% higher than in the equivalent TV spot breaks in the same content.
It also delivered approximately 130 million additional impressions, "a significant advantage for advertisers in the busiest advertising season of the year", Mirriad, which has carried out campaigns for companies including Sky, Warner Bros, Dyson and Deliveroo PLC (LSE:ROO), said.
CEO Beringer said growth was underlined by the company’s new Canadian Partnership and Super Bowl, while in-content campaigns on Hallmark and Lifetime channels grew revenues from finance, cosmetics and food companies.
The company provides in-content advertising solutions which target advertising through content platforms like YouTube, using AI to analyse footage for product placement opportunities.
Mirriad said the partnership agreement with Canada's largest TV and digital media conglomerate was "an important milestone for Mirriad in Canada and a first campaign has already launched there in a premiere series."
The deal with the unnamed Canadian TV station continues the group's North American expansion and follows deals last year with social media influencing group Influencer and German communications agency LOOPING GROUP.
Mirriad’s shares were trading at 19p in early deals, having closed at 17.4p yesterday.