Asia Today and ZEE invest £3MN in brand integration specialist MirriAd
Louise Duffy | 25-03-2013
Digital brand integration specialist MirriAd today announced a £3.6 million strategic investment including £3 million from Asia Today Ltd (ATL) and ZEE, a deal led by Indian media entrepreneur Subhash Chandra and brokered by David Glick, CEO of entertainment and media business fund manager, and existing shareholder, Edge Investment Management (Edge).
The strategic investment between ATL and ZEE will see MirriAd deployed across India and other markets in Asia on broadcast, cable and satellite, and follows the success of campaigns by Zee TV in the UK, which used MirriAd technology to integrate UK brands into the Indian-produced popular daily soap Pavitra Rishta.
ZEE has 400,000 hours of programming available in six languages across the world and it aims to double its current reach of 670 million viewers in the 169 countries, to which it broadcasts.
MirriAd’s digital solution enables brands to be integrated into programming remotely and independently of production schedules. This MirriAd platform offers brands the opportunity to target huge audiences across many countries with ease and across a wide variety of content locally, regionally and globally.
Glick commented: “The results of MirriAd’s technology have to be seen to be believed, and with deregulation of product placement taking place around the world, the potential is enormous. We are delighted to welcome a businessman of the calibre of Subhash Chandra on board as a co-investor.”
MirriAd CEO Mark Popkiewicz said: “This is an exciting and important development for MirriAd. Asia and in particular India represents an incredibly important growth market with enormous potential for our bespoke technology for both media owners and brands. With a high GDP growth rate and a population of over 1.21 billion, India is a must-have market for brands. Edge is an active and supportive investor with immense entertainment industry knowledge, and to have Subhash Chandra together with ZEE and ATL commit to our future is a significant endorsement of our vision.”
Chandra, who is also chairman of ZEE, added: “MirriAd’s technology offers ZEE and ATL a great opportunity to integrate locally relevant brands across all our territories, who knows - we might even be able to create an ad-free channel before long."