Orlando, Florida (October 25, 2021) – 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.
