IZEA Worldwide, Inc, 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 10 customer. The total amount awarded under this individual contract, which follows a smaller agreement signed only months ago, more than doubles the total amount of Managed Services bookings attributable to this customer in 2020. In total, the customer has tripled its budget with IZEA in the first four months of 2021 as compared to the entirety of 2020.
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Managed Services Tops 30% YoY Growth in Q2 To Date
IZEA’s Managed Services bookings to date for Q2 2021 have already exceeded the total amount of Managed Services bookings for the entirety of the same quarter last year. Last week, IZEA announced it signed a multi-million-dollar influencer marketing agreement with a Fortune 500 manufacturer, that included both software and managed services. Since then, the company has executed a variety of other influencer marketing contracts, which have combined to further increase bookings growth. Managed Services bookings for Q2 2021 thus far have already grown more than 30% as compared to all of Q2 2020, and Q2 2020 managed services bookings grew 47% as compared to Q2 2019.
Company Expects Full Q2 2021 Managed Services Bookings to Eclipse Q1 2021 Record
IZEA’s Managed Services set a record for the best Q4 managed services bookings ever in 2020, with 47% year over year growth. The company followed Q4 with another record for the best Q1 managed services bookings ever – delivering 130% year over year growth – announced at the beginning of April. IZEA Managed Services bookings between January 1st and April 16, 2021 already exceed managed services bookings in Q1, Q2, and Q3 of 2020, combined.
“We are off to an incredible start in Q2, with strong positive sales momentum from the past two record quarters,” said Ted Murphy, Founder, Chairman and CEO of IZEA. “We are on track to have our best Q2 ever for Managed Services bookings and expect to eclipse the records set in Q4 2020 and Q1 2021 based on our current trajectory. These bookings are expected to be recognized as revenue over the coming quarters as campaigns are executed.”
Bookings are a measure of all sales orders minus any known cancellations or refunds 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 6-month period on average, though larger contracts may be recognized over longer periods of time.
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