IZEA Awarded Significant Contract for Marketing of Alcoholic Beverages
IZEA Worldwide, Inc. (NASDAQ: IZEA) announced a mid six-figure contract with a leading spirits manufacturer, expanding its influencer marketing efforts. This follows an initial campaign earlier in 2020. The contract aims to leverage the shift in consumer behavior during COVID-19, with people increasingly ordering alcohol online. Research indicates social media users are significantly more likely to engage in online alcohol ordering. IZEA recognizes this as a crucial moment for alcohol brands to connect with consumers, especially millennials, amid changing consumption habits.
- Secured mid six-figure contract with leading spirits manufacturer, expanding influencer marketing initiatives.
- Observed increased category spending by alcohol brands on influencer marketing due to COVID-19.
- Research shows social media users up to five times more likely to order alcohol online, indicating a strong market opportunity.
- Challenges posed by COVID-19 impacting traditional alcohol consumption venues.
- Uncertainties related to the effectiveness of marketing strategies in the current environment.
Orlando, Florida, Sept. 22, 2020 (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 that it has secured a mid six-figure contract with a leading spirits manufacturer, a significant expansion upon the first contract awarded to IZEA earlier this year. Following the success of that initial campaign, IZEA will be executing a large-scale influencer marketing initiative spanning multiple brands.
“Coronavirus has had a material impact on how and where people are consuming alcohol,” said Ted Murphy, Founder and CEO of IZEA. “While many bars, restaurants, and venues are currently closed or limiting service, consumers are still eager to connect and socialize with each other during this challenging period. People are turning to online platforms to reimagine the real-world social experiences that they are currently unable to comfortably enjoy in-person. The proliferation of online “Happy Hours” at home have offered a temporary substitute to traditional gatherings of friends, family, and co-workers.”
In addition to this significant contract, IZEA has been awarded multiple contracts with other manufacturers and marketers of alcoholic beverages in Q3 2020. IZEA has observed an expansion of category spend since the onset of COVID-19, with many alcohol brands turning to influencer marketing to drive sales, particularly through delivery services. IZEA's research found that social media users are up to five times more likely to have experience ordering alcohol online as compared to those who do not use social media. Of those surveyed,
“Our previously released COVID-19 research indicated that not only has social media consumption increased, alcohol consumption among those who use social media has also increased,” continued Murphy. “This is a pivotal moment for alcohol brands. We see the potential for alcohol companies to connect with end consumers, particularly millennials, in a more direct and meaningful way. There has already been a large increase in alcohol pickup and delivery, and as a result, many alcohol brands will enter consumers’ homes for their first time ever due to social distancing. It is a huge opportunity to win over new consumers.”
About IZEA Worldwide, Inc.
IZEA Worldwide, Inc. (“IZEA”) operates IZEAx, the premier online marketplace that connects marketers with content creators. IZEAx automates influencer marketing and custom content development, allowing brands and agencies to scale their marketing programs. IZEA creators include celebrities and accredited journalists. Creators are compensated for producing unique content such as long and short form text, videos, photos, status updates, and illustrations for marketers or distributing such content on behalf of marketers through their personal websites, blogs, and social media channels. Marketers receive influential content and engaging, shareable stories that drive awareness. For more information about IZEA, visit https://izea.com/.
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,” “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; uncertainty relating to the effects of COVID-19, 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.
Martin Smith IZEA Worldwide, Inc. Phone: 407-674-6911 Email: ir@izea.com
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