IZEA Awarded Influencer Marketing Contract Expansion from Fortune 200 Customer
Orlando, Florida, July 16, 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 that it has been awarded a new contract from a Fortune 200 customer, the third and largest expansion since first engaging IZEA to handle its influencer marketing campaigns in Q2 of 2020. The scope of the mid-six figure managed services agreement is to execute influencer marketing campaigns promoting the customer’s products across multiple social platforms, including Instagram, Pinterest, and YouTube. The content will target audiences interested in DIY and home improvement projects.
“Influencer Marketing is a natural fit for home improvement brands who are seeking to increase awareness and drive sales,” said Ted Murphy, Founder, Chairman and CEO of IZEA. “Consumers look to influencers for inspirational DIY projects and the products used to complete them, whether it be renovating a bathroom or refinishing furniture. Interest in this type of social media content soared with the sharp uptick of consumers engaging in home improvement projects last year, and the content remains an area of high interest for many new homeowners in the current real estate market.”
“We have a long history of executing successful influencer marketing campaigns for brands in this vertical,” continued Murphy. “We are thrilled to continue our expansion with this customer and bring more DIY opportunities to our network of creators.”
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 adjustment. Revenue from Managed Services bookings are typically recognized over a 9-month period on average, though larger contracts may be recognized over longer periods of time. IZEA recognizes Managed Services revenue based on a percentage of completion.
IZEA recently announced that Managed Services bookings in Q2 of 2021 increased 187% to $11.1 million as compared to Q2 of 2020, which were $3.9 million. IZEA’s net income and cash flow results will be announced, along with the rest of the company’s financial performance, as part of its Q2 earnings release, which is tentatively scheduled for August 12, 2021.
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: bookings failing to produce corresponding revenue; 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.
CONTACT: Martin Smith IZEA Worldwide, Inc. Phone: 407-674-6911 Email: ir@izea.com
