Virtual advertising company Mirriad Advertising PLC (AIM:MIRI, OTCQX:MMDDF) has struck a deal with Magnite Inc. to sell ad inventory through the company's sell-side advertising platform.
Mirriad digitally places brand content such as signs into video content through virtual ad technology.
The company’s chief executive Stephan Beringer said the tie-up was another step in its efforts to “activate in-content inventory programmatically”.
“By scaling across platforms we can drive more valuable ad inventory, from a broader range of video content, to advertisers and their agencies,” he said in a statement on Monday.
The collaboration is the latest step in the company’s efforts to turn revenue generation around since the impact of the pandemic.
On Thursday, Mirriad said it had boosted brand visibility at luxury car brand Lexus by 14% through providing in-content music video campaigns for the brand.
Mirriad worked with Sony Music Latin to “insert Lexus signage into new music video content” as part of the campaign.
This drove a 14% increase in brand awareness, and an 8% uptick in brand purchase consideration, according to information provider Kantar.
Mirriad reported revenues of £2m in 2021, despite what it called the continuing impact of Covid-19, which was almost on par with the £2.2m it generated in 2020.
It boosted sales revenue in the US market by 182% to £884,000 during the period after investing in its sales resource.
Shares rose 2.44% to 21.00p in morning trade.