MirriAd, a digital ad company, has received a funding worth £3.6 million from ZEE and its subsidiary Asia Today Ltd. While Asia Today invested about £3 million, the rest was invested by ZEE. The funds, MirriAd says, will be used to deploy MirriAd’s services across India and other Asian markets on broadcast, cable and satellite medium.
Note that MirriAd has previously partnered with Zee Network Europe, part of Zee Entertainment Enterprises Limited, to provide digital product placement in ZEE’s shows.
Launched in 2008 by mark Pokiewicz, MirriAd provides a platform that allows its channels to digitally integrate brands into video content at scale. MirriAd’s platform analyses content, creates inventory and allows clients to place products in the video. It also provides audience engagement and supports analytics. The company is headquartered in London and has offices in Mumbai. It has previously raised funds from Edge Investment Management, Edge Group, Oxford Technology Management, Oxford Capital Partners, STV Group PLC, Seraphim Capital and South East Growth Fund and angel investors Bruce Smith and Stephen Bullock.
How MirriAd Works
Interestingly, ZEE Chairman Subhash Chandra mentions that MirriAd’s technology might also enable companies to provide an ad-free channel. We believe how this would work is, MirriAd provides channels with an alternative advertising solution by embedding brands directly into video content. For example, if there is a character standing in front of a wall in a show, MirriAd can place an ad on that wall. This could possibly work like a product placement or rather an advertisement within the half hour video program, eliminating the need for channels to additionally include a TVC.
Will MirriAd Be Legit In India?
It should be noted that the Telecom Regulatory Authority of India, on the 22nd of March, notified significant limits on advertisements on television on duration of advertisement in TV channels. As per its new regulations, only full screen advertising will be allowed and that no popups, part screen ads or drop down advertisements will be allowed. Apart from that, only 12 minutes of advertising on a broadcast channel television in an hour, including house ads are to be allowed. Going by these regulations, it’s not clear whether MirriAd’s technology complies with TRAI’s regulations for — the ad placement won’t be a full screen ad and on screen product ad placement might take longer than 12 mins of ad time slot allowed.
Besides this, we do not believe full screen ads on TV channels would go away, as TVC still remains one of the most effective means for users to discover new products, and for brands to advertise, with undivided user attention (unless they change the channel, of course). Subtle ads will work only if users are aware of the products.