REG - SEEEN PLC - Contract Wins and Notice of Trading Update

SEEENAnnouncement

27/01/2022 07:00

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RNS Number : 7894Z  SEEEN PLC  27 January 2022

 

SEEEN plc

("SEEEN" or the "Company")

Contract Wins and Notice of Trading Update

SEEEN plc (AIM: SEEEN), the global media and technology platform offering
proprietary AI products that harvest Key Video Moments efficiently for brands,
creators and publishers is pleased to launch 2022 by announcing two further
customer contracts.

Each customer win builds on previous customer wins during 2H 2021 in key
vertical markets.  The latest wins reflect an acceleration in the
Go-To-Market strategy for SEEEN's core products.

In addition, the Company announces that it intends to publish a trading update
for the twelve months ended 31 December 2021 on 3 February 2022.

Go to Market Strategy

The Company has targeted customers in specific vertical markets to gain
referenceable customers and efficient early deployment for common use cases of
CreatorSuite.

First, CreatorSuite creates immediate social media and e-commerce benefits for
publishers of current events (news, politics, sports), where audiences are
inspired by "Key Video Moments" and seek to share such Key Video Moments on
social media, adding traffic and awareness to the publisher.  Previously,
strategic investor Sumitomo Corporation used Key Video Moments during the
Rugby World Cup to both build awareness for its sports cable channel and to
sell merchandise.  Last quarter, SEEEN gained publishers deploying Key Video
Moments for financial news and general consumer interest respectively.

Second, CreatorSuite also creates immediate social media and e-commerce
benefits for retailers and home services companies that seek to use Key Video
Moments to illustrate "Do It Yourself" (DIY) steps that drive consumer
awareness.  Previously, SEEEN gained such a customer in the automotive
services / tire market.

January B2B customer wins

Political Publisher   The Company has signed a commercial agreement with a
Super Political Action Committee ("Super PAC") in the United States to use
SEEEN's CreatorSuite technology to create and publish Key Video Moments for
the Super PAC's website and social media channels. The Super PAC runs various
weekly livestream shows online. The publisher plans to grow its audience and
to develop a social media community as a prelude to launching a video streamed
news channel.

As with other SEEEN customers, the commercial relationship has a monthly
license fee coupled with a revenue share based on e-commerce and political
contributions.  Given that the US mid-term elections in 2022 are expected to
be keenly contested, the revenue share forms an attractive incentive for
SEEEN's Key Video Moments technology.

Water Intelligence plc Microsite  Much like Sumitomo Corporation, Water
Intelligence plc ("WI"), is a strategic investor in the Company.  Like
Sumitomo Corporation, WI is now a customer. In mid-January WI relaunched its
website (www.waterintelligence.co.uk (http://www.waterintelligence.co.uk) ) to
use Key Video Moments for the home DIY market, especially with respect to
finding and fixing water leaks.  WI services over 200,000 households in the
US annually and plans to resell products from home retailers across the United
States linking heightened consumer awareness of products driven by Key Video
Moments with installation services provided by WI.  The customer relationship
carries with it professional services fees to enable such digital
transformation through video.

 

Patrick DeSouza, Chairman of the Company, stated: "As we noted during 2H 2021,
we have completed our product development cycle post IPO and are ready to
Go-To-Market.  These new customer wins reinforce our Go-To-Market strategy.
We expect that these referenceable customers will lead to further wins during
Q1 with customers deploying the same use cases and reaping the same benefits
of our Key Video Moments technology.  We are going to market at the right
time as YouTube and Tiktok are promoting video "shorts".   With our
technology, brands can momentize their videos and participate in this next
wave of social media applications."

 

Market abuse regulation

This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) No 596/201 as it forms part of UK domestic law by virtue of
the European Union (Withdrawal) Act 2018 ("MAR").

 

 SEEEN
 Patrick DeSouza, Chairman                                   Tel: +1 203 654 5426
 Todd Carter, CEO
 Adrian Hargrave, CFO                                        Tel: +44 (0)7775 701 838

 Panmure Gordon                                              Tel: +44 (0)20 7886 2500

 (Financial Adviser, Nominated Adviser & Joint Broker)
 Alina Vaskina / Harriette Johnson (Corporate Advisory)
 Rupert Dearden (Corporate Broking)

 Dowgate Capital (Joint Broker)                              Tel: +44 (0)20 3903 7721
 Stephen Norcross

 

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