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Mirriad, the in-content advertising company, today announces it has reached a new commercial agreement with Tencent, following two years of successful collaboration.
Tencent is China's biggest online video streaming platform by subscriptions.
This agreement renews the relationship for a further two years, and is backdated to commence from 1st April 2021.
During the previous contract term, Tencent introduced Mirriad's proprietary in-content advertising solution to its advertisers, offering innovative video advertising services in China.
Tencent and Mirriad will now work together to further scale in-content advertising in the fast-growing Chinese market.
Stephan Beringer, ceo of Mirriad, said: "This new agreement underlines how much we achieved in our first contract term with Tencent and I'm excited about how we can continue to create new routes to grow revenue together.'
This enhanced agreement enables a move to a revenue share model for both parties, removing the previous minimum volume and exclusivity clauses, to align with the commercial terms Mirriad has in place with other large partners in US and European markets.