Mirriad strikes framework agreement with mystery food and beverage firm

Advertising company Mirriad said on Monday that it had reached a multi-brand framework agreement with an unnamed global food and beverage company.

Mirriad stated the deal followed a successful trial of its patented technology to digitally insert the mystery company's brands into selected US-focused video content, which it said had driven increased performance in key metrics including awareness, purchase intent, and sales volumes for a variety of the client's brands.

Building on the positive results, Mirriad said the agreement encompassed in-content campaigns for scripted entertainment, music, and eventually live events and sports in the US, with the intention to eventually expand globally.

The AIM-listed group added that the agreement would be underpinned by a mutual commercial framework, in which the company works with Mirriad to expand the market for in-video advertising by introducing it to content and marketing partners. Alongside core deliverables, the agreement was also said to contain additional benefits - including a detailed research agenda.

Chief executive Stephan Beringer said: "We've been working with our amazing partners at this leading food and beverage company's team for over a year and it's fantastic to be collaborating with a category leader at this level.

"Initially focusing on the US market, it will build our successful relationship, with the potential to scale across an instantly recognisable brand portfolio and to innovate in multiple areas."

As of 0820 BST, Mirriad shares were up 4.35% at 60.0p.