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28 Jun 2019 | 07:44

Mirriad Advertising inks contract in China with Tencent

Mirriad Advertising said it had signed a two-year agreement with Chinese online video platform Tencent.

The contract provided exclusivity to Tencent for Mirriad's technology and services in China.

Tencent would pay a fixed monthly licence fee and Mirriad would provide a minimum volume of advertising and promotional work for use with Tencent advertising clients.

Work over and above that minimum would be charged incrementally.

Mirriad said the contract would immediately enhance 2019 revenues, due to the fixed monthly fee.

It wold generate, at a minimum, 'multiple millions of pounds' of revenue for Mirriad over the 24-month contract term, it added.

Story provided by StockMarketWire.com
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