IZEA Awarded Influencer Marketing Contract Expansion for Leading Mobile Provider

Rhea-AI Summary

IZEA Worldwide has secured a mid six-figure contract expansion with a major mobile telecommunications company, marking the largest single contract in its history. This expansion of managed influencer marketing services continues their existing relationship, with activations starting in Q4 2021 and extending into 2022. In addition, IZEA achieved a record in Managed Services bookings for Q3 2021, totaling $11.3 million, a 181% increase year-over-year from $4.0 million in Q3 2020.

Positive

• Secured a mid six-figure contract expansion with a leading mobile telecommunications company.
• Largest single contract received in company history, doubling previous commitments.
• Managed Services bookings for Q3 2021 reached $11.3 million, up 181% year-over-year.

Negative

• None.

Orlando, Florida, Oct. 25, 2021 (GLOBE NEWSWIRE) -- IZEA Worldwide, Inc. (NASDAQ: IZEA), the premier provider of influencer marketing technology, data, and services for the world’s leading brands, announced today it has been awarded a mid six-figure contract expansion for a leading mobile telecommunications company. The new contract is for managed influencer marketing services and is a continuation of an existing relationship with the company. Influencer activations are scheduled to begin in Q4 2021 and will carry into 2022. It is the largest single contract that IZEA has received to promote this brand, and doubles the size of the previous largest commitment.

“Influencer marketing is an inherent fit for telecommunication providers, and we have seen success driving value for brands throughout the industry,” said Ted Murphy, Founder and CEO of IZEA. “Creators rely heavily on their smartphones and high-speed connectivity for their livelihood, especially with the rise of short form and streaming video content. That makes them natural storytellers for the devices and networks they have come to trust and love.”

“We are thrilled to expand our relationship and onboard additional influencers to share their brand experiences with their audience,” continued Murphy. “The increase in size and scope of the program is a reflection of our commitment to providing our customers the best technology, insights, and services in the influencer marketing industry.”

IZEA recently announced that it set a Managed Services bookings record for the best quarter in company history during Q3. Managed Services bookings in Q3 of 2021 increased 181% year over year to $11.3 million as compared to Q3 of 2020, which were $4.0 million. IZEA’s net income and cash flow results will be announced along with the rest of its financial performance when it announces Q3 earnings, which is tentatively scheduled for November 10, 2021.

Bookings are a measure of all sales orders minus any known cancellations or refunds in the same time period with respect to such sales orders or refunds. Management uses bookings to inform expectations of total sales activity. Bookings are not always an indicator of revenue for the quarter and could be subject to future adjustments. Revenue from Managed Services bookings is typically recognized over a 9-month period on average, though larger contracts may be recognized over more extended periods of time. IZEA recognizes Managed Services revenue based on a percentage of completion.

 
To work with IZEA as either an influencer or a marketer visit IZEA.com.

About IZEA Worldwide, Inc.
IZEA Worldwide, Inc. (“IZEA”) is a marketing technology company providing software and professional services that enable brands to collaborate and transact with the full spectrum of today’s top social influencers and content creators. The company serves as a champion for the growing Creator Economy, enabling individuals to monetize their content, creativity, and influence. IZEA launched the industry’s first-ever influencer marketing platform in 2006 and has since facilitated nearly 4 million transactions between online buyers and sellers. Leading brands and agencies partner with IZEA to increase digital engagement, diversify brand voice, scale content production, and drive measurable return on investment.

Safe Harbor Statement
All statements in this release that are not based on historical fact are “forward-looking statements” intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “may,” “will,” “would,” “could,” “should,” “expect,” “anticipate,” “hope,” “estimate,” “believe,” “intend,” "likely," "projects," “plans,” "pursue," "strategy" or "future," or the negative of these words or other words or expressions of similar meaning. Examples of forward-looking statements include, among others, statements we make regarding expectations concerning IZEA’s ability to increase revenue and bookings, growth or maintenance of customer relationships, and expectations concerning IZEA’s business strategy. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors including, among others, the following: competitive conditions in the content and social sponsorship segment in which IZEA operates; failure to popularize one or more of the marketplace platforms of IZEA; our ability to establish effective disclosure controls and procedures and internal control over financial reporting; our ability to satisfy the requirements for continued listing of our common stock on the Nasdaq Capital Market; changing economic conditions that are less favorable than expected; and other risks and uncertainties described in IZEA’s periodic reports filed with the Securities and Exchange Commission. The forward-looking statements made in this release speak only as of the date of this release, and IZEA assumes no obligation to update any such forward-looking statements to reflect actual results or changes in expectations, except as otherwise required by law.

FAQ

What contract did IZEA announce on October 25, 2021?

IZEA announced a mid six-figure contract expansion for managed influencer marketing services with a leading mobile telecommunications company.

How much did IZEA's Managed Services bookings increase in Q3 2021?

IZEA's Managed Services bookings increased 181% year-over-year to $11.3 million in Q3 2021.

When will influencer activations for the new contract begin?

Influencer activations for the new contract are scheduled to begin in Q4 2021.

What is the significance of the new contract for IZEA?

The new contract is significant as it represents the largest single contract in IZEA's history, reflecting strong demand for influencer marketing services.