Mirriad Advertising : Annual Report and accounts for year ended 31 December 2021

GROWING ADOPTION

Mirriad Advertising plc Annual report and accounts 2021

THE WORLD'S LEADING IN-CONTENT ADVERTISING PLATFORM

Strategic report

02 At a glance

04 Investment case

1. Our events over the year

1. Chairman's statement

1. Chief Executive Officer's statement

1. Markets

1. Business model

1. Section 172 and stakeholder engagement

1. Strategy and key performance indicators

1. Outstanding impact

1. Financial review

1. Managing our risks

1. Principal risks

1. Sustainability/ESG

1. Diversity and inclusion

Corporate governance

1. Introduction to corporate governance
2. Board of Directors

1. Corporate governance statement

1. Audit Committee report

1. Remuneration Committee report

1. Directors' report

1. Statement of Directors' responsibilities

Financial statements

59 Independent auditors' report

65 Consolidated statement of profit or loss

1. Consolidated statement of comprehensive income
2. Consolidated and Company balance sheets
3. Consolidated statement of changes in equity

1. Company statement of changes in equity
2. Consolidated and Company statement of cash flows
3. Notes to the consolidated financial statements

1. Notice of Annual General Meeting

1. Company information

The Strategic Report contained on pages 2 to 39 was approved by the board on 10 May 2022.

John Pearson

Non-executive Chairman

Revenue £m	Net assets £m		Loss per share p
£2.01m	£24.9m		-4p
2021	2.01	2021	24.9		2021	-4
2020	2.18	2020		35.3	2020	-4
2019	1.14	2019	19.2		2019	-8
2018	0.42	2018	15.6		2018	-14
2017	0.87	2017	27.9		2017	-19

"Mirriad can now capitalise on significant additional opportunities in the North American market, while continuing to effectively manage strong existing relationships in Europe and the move away from a minimum revenue guarantee model with Tencent in China. The clear gains in impact and reach we can deliver, all whilst consistently being found to be viewers' preferred format, are hugely significant in the context of increasing challenges for traditional ad formats."

- Stephan Beringer, Chief Executive Officer

Operational highlights

• Significant increase in overall supply partners and extension into influencer content with key deal with Influential. Mirriad now has access to content from 46 content partners globally
• US revenues increased 182% to £884k following our investment into sales resource in the US
• Number of advertisers placing campaigns more than doubled to 45 during the year
• Partnership agreement signed in May with major US based food and beverages brand to incentivise spend with Mirriad
• Renewal of Tencent partnership effective April 2021
• Research studies confirmed that in video advertising reaches more people than conventional spot advertising with an average increase in reach of +23%

mirriad.com
mirriadplc.com	Annual report and accounts 2021	01

STRATEGIC REPORT

At a glance

OUR VISION IS TO LEAD A NEW ERA IN ADVERTISING

with the high-performing, in-content

ad format across the most powerful and valuable content platforms and properties.

Mission

The world's largest content players are faced with unprecedented pressure on their business models, and the marketing ecosystem is in search of new answers. Mirriad's mission is to provide the most advanced advertising solution to the content industry that is easy to integrate, deploy and scale, and that will instantly enable new revenues and levels of reach and impact.

48 ↑

Protected by 35 granted and 13 pending patents in the USA, Europe and Asia

5,232 ↑

Hours of content analysed in 2021 compared to 1,318 in 2020

15,394 ↑

Seconds of advertising insertions delivered in 2021 compared to 5,254 in 2020

02 Mirriad Advertising plc

TV/VIDEO ADVERTISING IS

POISED FOR DISRUPTION

Mirriad's approach is perfectly positioned to respond to the accelerating demands of a changing marketplace.

MEDIA INVESTMENTS ARE GOING UP

1	2	3
Consumers shift to more ad free/	Present day cookie-based	Ad clutter and over-exposure
light video environments	targeting unsustainable	drive ad-fatigue and avoidance

AUDIENCE REACH AND IMPACT ARE GOING DOWN

ENABLING AN ENTIRELY

NEW MARKETPLACE

Mirriad sits at the centre of a brand new marketplace, seamlessly linking content producers, networks, publishers and platforms, to advertisers and agencies across a growing range of brand experiences.

DEMAND

(Advertisers, agencies)

BUY-SIDE PLATFORMS

PLANNING	BUYING

SELL-SIDE PLATFORMS

SUPPLY

(Producers, networks, publishers, platforms)

BRAND EXPERIENCES

TV

VOD

MUSIC VIDEOS

SPORTS

INFLUENCER

LIVE

UGC

BRAND

AR/VR*

GAMING*

* Future development

Annual report and accounts 2021

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