Zee Entertainment Enterprises, India’s second-largest Indian media and entertainment company, and its subsidiary, Mauritius-based Asia Today (ATL), have invested £3.6m into local digital advertisement firm MirriAd Advertising.
Zee’s investment follows the success of campaigns by Zee TV in the UK, which used MirriAd technology to integrate UK brands into the Indian-produced daily television show 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.
Subhash Chandra, chairman of Zee, said: “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.”
The deal was led by Indian media entrepreneur Subhash Chandra and brokered by David Glick, chief executive of MirriAd’s existing shareholder Edge Investment Management.
Glick said: “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.”