Mirriad sees returning Chinese consumer confidence

RNS Number : 3119M

Mirriad Advertising PLC

07 May 2020

 

7 May 2020

Mirriad Advertising PLC

("Mirriad" or the "Group")

Mirriad Advertising records returning Chinese consumer confidence

Mirriad Advertising plc, the computer vision and AI platform company, is seeing encouraging signs from its operations in China.

April has been one of the firm's busiest since its Chinese operations began and the uptick in activity in the country is due to improving confidence amongst consumers, brands and advertisers as they begin to catch up on months of stalled activity.

Mirriad's exclusive partnership with Tencent, one of the largest online video platforms in China with over 700 million active users and 120 million paying subscribers, gives advertisers access to vast audiences by placing their brands inside its content.

As a result, Mirriad's biggest Chinese brand advertisers through 2019 have returned and are kicking off their 2020 in-video activity, demonstrating long-term confidence in the technology and the increased engagement potential it unlocks.

In addition, Mirriad welcomed a steady stream of new clients over the past few weeks, including Enterprise WeChat, Huawei, China Mobile, Saint Laurent and TAL Education.

Some of the new brands exploring in-content opportunities on Tencent align well with a trend that reveals growing demand for services that consumers can access online s.a. education and corporate services.

Meanwhile, conversations also continue with leading global food and beverages, luxury, household and automotive brands, who are all expected to gain momentum again as domestic demand begins to return.

Stephan Beringer, CEO of Mirriad, said: "Tencent has been highly engaged and active in bringing Mirriad's unique technology to the market, with demand for demonstrations in April alone already above levels seen throughout 2019.

"Our updated China showreel demonstrates the power of the unique technology at a moment of huge opportunity for brands, advertisers and content producers."

ENDS

About Mirriad

Mirriad's award-winning solution unleashes new revenue for content producers and distributors by creating new advertising inventory in content. Our patented, AI and computer vision technology dynamically inserts products and innovative signage formats after content is produced. Mirriad's market-first solution seamlessly integrates with existing subscription and advertising models, and dramatically improves the viewer experience by limiting commercial interruptions.

Mirriad currently operates in the US, Europe and China.

Financial Communications

Charlotte Street Partners  

Tom Gillingham Tel: [phone]

Andrew Wilson Tel: [phone]

 

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