Mirriad Advertising - Gaining momentum
Mirriad Advertising’s FY20 revenues grew strongly by 91%, in line with forecasts. The EBITDA loss of £8.6m, a 25% reduction, was notably better than consensus forecast loss of £10.2m. This reflects careful husbandry of resource during the pandemic, after restructuring in FY19. FY20 has been well used in building recognition for Mirriad’s technology among platforms, brands and agencies, culminating in the framework agreement signed with a tier 1 entertainment group in Q420. In Q221, the group added a major global food and beverage brand and is working with all the major agency groups. December’s placing, raising £24.8m net, puts Mirriad in a strong position to continue to develop its technology and position its in-content advertising inventory centrally within the ecosystem.Mirriad Advertising is a video advertising company and engaged in the development of native in video advertising. Co. provides digital brand integration and the use of its technologies to provide embedded advertising services to broadcasters, advertisers, brand owners and agencies.
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