5th Feb 2020 11:32
(Alliance News) - Mirriad Advertising PLC on Wednesday said revenue almost tripled in 2019, thanks to new contract wins.
The artificial intelligence-led advertising company said it traded in line with guidance in 2019, with revenue expected to come in at GBP1.1 million compared to GBP416,000 a year ago.
The improvement was boosted by framework contracts signed with broadcasters and distributors, Mirriad said, including the first broadcaster agreement in the UK, with first live campaigns expected in the first quarter of 2020.
In the US the company said it is in multiple discussions with tier one networks and streaming platforms and signed deals with two global media companies in December 2019.
In France, Mirriad now has contracts with three TV channels following a deal with M6 shortly before the year end.
"We continue to make strong progress, following the large-scale strategic reset in 2019," said Chief Executive Stephan Beringer.
He added: "The steady flow of new agreements with top-tier content producers and distributors as well as the growing enthusiasm from major advertisers and agencies are evidence of the accelerating traction in the market and the increasing adoption of Mirriad's proposition."
Mirriad shares were trading 0.6% higher in London on Wednesday at 14.29 pence each.
By Evelina Grecenko; [email protected]
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