Business
Contract Win and 1Q Trading Update
Contract Win and 1Q Trading Update.
About this update from Seeen Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 2167V\n SEEEN PLC\n 13 April 2021\n \n \n \n \n \n \n \n SEEEN plc\n \n \n (\"SEEEN\" or the \"Company\")\n \n \n \n \n \n Contract Win to Launch 2Q and Strong 1Q Trading Update \n \n \n \n \n \n SEEEN plc (AIM: SEEEN), the global media and video technology platform for improved digital marketing yield and connected audience experiences\n , is pleased to announce a contract win expected to launch in the second quarter of the current year (\"2Q\") and a strong trading update for the three months to 31 March 2021 (\"1Q\"), both delivering further momentum to the Company. \n \n \n Today's announcement should be viewed as the next step in the guidance offered by the Company with its 2020 Trading Update released last month: the Company executed its 2020 plan to use its EIS/VCT funding to build a proprietary AI video experience platform and is rolling out additional video technology products to its target customer base starting in 2Q.\n \n \n Win to launch 2Q \n \n \n The Company is pleased to announce it has signed a commercial agreement with a major tire retailer in the United States to provide both its CreatorSuiteTM technology and Content Production Services. \n \n \n The agreement is worth a minimum of $50,000 in revenue in the next twelve months, rising to up to $100,000 depending on the amount of traffic driven to the customer's website through CreatorSuiteTM. The contract builds on a successful pilot project with the tire retailer where the Company deployed CreatorSuiteTM to drive both increased web traffic and increased customer engagement and conversion by serving relevant \"in the moment\" opportunities to customers. \n \n \n \n \n \n 1Q Highlights\n \n \n Financial\n \n \n · \n The Company's multichannel network of audiences and creators (\"MCN\") continues its rebound, which started in 2H 2020, from Covid-influenced market\n \n \n o \n 1Q revenue up 12.8% at $2.3m (1Q 2020: $2.1m)\n \n \n o \n 1Q RPM (YouTube advertising yield) up 22.8% at $1.02 (1Q 2020: $0.83)\n \n \n o \n 1Q views down 8.2% at 4.0bn (1Q 2020: 4.4bn)\n \n \n · \n Adjusted profit before tax in line with market expectations\n \n \n · \n Strong balance sheet with $4.5 million of net cash, which enables the Company to execute its growth plan\n \n \n Technology \n \n \n · \n 1Q release ...