IZEA Managed Services Bookings Swing to Show 12% Annual Growth

Rhea-AI Summary

IZEA Worldwide has announced a significant 47% increase in Managed Services bookings for Q4 2020 compared to the same period in 2019, driven by a new contract with a Fortune 100 retailer. Despite challenges posed by the pandemic, this growth has led to a 12% annualized increase in bookings since 2019. IZEA's Chairman and CEO, Ted Murphy, expressed optimism about the company’s momentum heading into 2021.

IZEA operates IZEAx, an online marketplace connecting marketers with content creators, facilitating influencer marketing.

Positive

• Managed Services bookings up 47% in Q4 2020 vs. Q4 2019.
• Annualized bookings improved by 12% compared to 2019.
• New contract with a Fortune 100 retailer bolstering growth.
• Positive momentum anticipated entering 2021.

Negative

• None.

Q4 Managed Services Bookings Growth Now Tops 47%

Orlando, Florida, Dec. 29, 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 been awarded a new contract for influencer marketing services from an existing customer who is a Fortune 100 retailer. The customer will be expanding its influencer marketing initiatives with IZEA in 2021. The contract, in combination with other recent wins, has now pushed IZEA’s Managed Services bookings growth in Q4 2020 to a 47% increase, as compared to Q4 2019, despite the impact the pandemic has had on a portion of IZEA’s historical customer base.

The surge of new Managed Services bookings in Q4 have allowed the company to more than offset the Managed Services bookings deficit created earlier this year. Annualized bookings have now grown 12% compared to 2019, despite multiple months of low sales and high cancellations experienced at the onset of the pandemic.

“We are thrilled to be able to deliver annual growth of Managed Services bookings during the most challenging and unpredictable year in our history,” said Ted Murphy, IZEA’s Chairman and CEO. “While we are winding down the 2020 calendar year, our team remains focused on maintaining our positive momentum and entering 2021 with the wind at our back.”

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,” “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 growth did IZEA report for Q4 2020?

IZEA reported a 47% increase in Managed Services bookings for Q4 2020 compared to Q4 2019.

What were the annualized bookings growth figures for IZEA?

IZEA's annualized bookings grew by 12% compared to 2019.

Who is the significant new client for IZEA mentioned in the press release?

The new client is a Fortune 100 retailer expanding its influencer marketing initiatives with IZEA.

What challenges did IZEA face during 2020?

IZEA faced challenges due to the pandemic impacting part of their historical customer base.

What is the outlook for IZEA in 2021?

IZEA's CEO expressed optimism about maintaining growth momentum as they enter 2021.