Company name: Miroma International
What they do: Media bartering
The Boss: Marc Boyan
Latest turnover (£,000): 50,555
Four-year compound sales growth (%): 77
Latest Ebitda (£,000): 1,906
When times are tough, businesses need to find new and different ways of creating efficiencies. This is where media bartering company Miroma International comes in. Media bartering is a process that allows advertisers and media owners to trade without having to pay 100 per cent in cash for what they want to buy; instead, they barter.
“The barter business operates pretty effectively in a recession,” explains Miroma chief executive Marc Boyan. “As companies cut their budgets, they need to look at other routes to protect them. Using bartering as a currency for buying media space works well in that environment.”
The bartering trend has seen EBITDA at Miroma double to £2m in the last year on a turnover of £50.6m.
Miroma also runs a venture arm, taking stakes in global media companies which, says Boyan, supports the primary barter business. Recent investments include content sharing site Pinterest, billboard company Outdoor Plus and online magazine WhoWhatWear.
Boyan adds that the secret to fast growth is focus: “Just keep focused. You can try other things out, but don’t lose sight of your core business – that’s where you build your other businesses from.”
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