Mirriad Advertising’s (LON: MIRI) share price surged 16 percent after signing a deal with a US media giant.
The ‘breakthrough’ agreement signed with one of the ‘largest and best known’ US-based content producers and distributors will last for two years.
This commercial framework will allow MIRI to start to develop in-video advertising on a number of popular entertainment series with a view to expanding in-video advertising to additional content.
Commenting on the win was Stephan Beringer, CEO of Mirriad:
“This breakthrough commercial agreement with this tier one partner is yet another indicator of how our technology is increasingly recognised as a major game-changer by the biggest global players in the world of media and entertainment. Finalising this agreement, despite all of the ongoing challenges posed by the COVID-19 pandemic, is testament to how compelling our technology is as a proposition, and how the Mirriad team continues to deliver effectively.
There is no immediate financial uplift from the deal as it sets out the terms and conditions for doing business.
Shares in MIRI have recovered strongly since the pandemic lows of 6p – now trading at 40p.