Creative Realities Announces Agreement to Supply and Deploy up to 5,000 Additional Screens for Starlite Media Expansion
Creative Realities, Inc. (NASDAQ: CREX, CREXW) announced a significant new agreement to deploy infrastructure solutions for up to 5,000 digital media assets for Starlite Media at outdoor shopping centers across the U.S. This project follows Starlite Media's existing network of over 6,000 media assets in top U.S. markets. The strategic partnership, valued at around $2 million for the initial deployment, is expected to generate an additional backlog of approximately $50 million. CEO Rick Mills emphasized the potential of on-premise digital media and the company's capability to serve large enterprise customers. The announcement follows a trend of strategic growth and increased revenue opportunities in the digital signage sector, particularly in retail and digital-out-of-home advertising.
- New agreement for up to 5,000 digital media assets valued at $2 million.
- Estimated additional backlog of $50 million upon full deployment.
- Expansion of digital media network in outdoor shopping centers enhances revenue potential.
- None.
LOUISVILLE, Ky., April 13, 2023 (GLOBE NEWSWIRE) -- Creative Realities, Inc. (“Creative Realities,” “CRI,” or the “Company”) (NASDAQ: CREX, CREXW), a leading provider of digital signage and media solutions, today announced a new agreement to deploy infrastructure solutions for up to 5,000 digital media assets for the Starlite Media network at large outdoor shopping centers anchored by big boxes and supermarkets throughout the United States.
Starlite Media’s existing retail media network is comprised of over 6,000 media assets at retail locations in the top 20 Designated Market Areas in the United States. On March 21st, Starlite Media announced a partnership with Quantela, an urban infrastructure solution provider, and Digital Alpha, an investor that will provide the capital required to add more than 5,000 new digital media assets over the next three years through the strategic partnership. CRI has been designated as the design, procurement, and installation provider for strategic partnership with an initial deployment commitment valued at
“The promise of on-premise digital media is vast as advertisers seek impressions on the retail path to purchase, place of purchase, point of purchase and path to home,” stated Rick Mills, CEO of Creative Realities. “This is just the beginning. Combined with the Company’s unparalleled capacity to deploy at scale for enterprise customers, our technology stack and ad-serving platform are well positioned to exploit the explosive growth of place-based Digital-Out-Of-Home networks.” Mr. Mills continued, “As discussed on our recent earnings call, this is one of a number of opportunities that CRI has secured to deploy, power and manage DOOH networks and related media sales.”
About Creative Realities, Inc.
Creative Realities helps clients use place-based digital media to achieve business objectives such as increased revenue, enhanced customer experiences, and improved productivity. The Company designs, develops and deploys digital signage experiences for enterprise-level networks, and is actively providing recurring SaaS and support services across diverse vertical markets, including but not limited to retail, automotive, digital-out-of-home (DOOH) advertising networks, convenience stores, foodservice/QSR, gaming, theater, and stadium venues.
Cautionary Note on Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, and includes, among other things, discussions of our business strategies, product releases, future operations and capital resources. Words such as "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. Forward-looking statements are not guarantees of future performance, conditions or results. They are based on the opinions, estimates and beliefs of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties, assumptions and other factors, many of which are outside of our control, that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Some of these risks are discussed in the “Risk Factors” section contained in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2022 and the Company’s subsequent filings with the U.S. Securities and Exchange Commission. Important factors, among others, that may affect actual results or outcomes include: our ability to effectively integrate Reflect’s business operations, our strategy for customer retention, growth, product development, market position, financial results and reserves, our ability to execute on our business plan, our ability to retain key personnel, potential litigation, supply chain shortages, our ability to regain and maintain compliance with Nasdaq listing rules, and general economic and market conditions impacting demand for our products and services, including those as a result of the COVID-19 pandemic. Readers should not place undue reliance upon any forward-looking statements. We assume no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Contacts
Media Inquiries
Christina Davies
cdavies@ideagrove.com
Investor Relations
ir@cri.com
https://investors.cri.com
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