IZEA Worldwide, Inc. , the premier provider of influencer marketing technology, data, and services for the world’s leading brands, announced that it has been awarded a new contract from a leading social media platform to handle an influencer marketing campaign on behalf of a Fortune 100 apparel company. The scope of the initial mid-six figure managed services agreement is for IZEA to provide end-to-end execution of select influencer programs on behalf of the platform and its brand client.
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“We are thrilled to have been selected by a leading social media platform to execute influencer marketing efforts in partnership with their team,” said Ted Murphy, Founder, Chairman and CEO of IZEA. “We have signed a master services agreement that will enable IZEA to work in tandem with the social media platform on a variety of influencer marketing campaigns moving forward. This award is a testament to our leadership in the influencer marketing space and a reflection of IZEA’s unmatched domain expertise.”
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.
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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.