In a news release, Datable Technology Corp. (DAC:TSX.V; TTMZF:OTCMKTS) announced it signed a deal with a leading advertising agency to provide a PLATFORM³ license and digital rewards to one of the agency's clients, a "leading global provider of health, hygiene and home products."
"This agreement adds another global consumer goods company to our growing customer base of companies using PLATFORM³ to enable rewards and engagement to create consumer loyalty. These global consumer goods companies have very large annual marketing budgets. Our accelerated growth in revenues has been largely due to our customers allocating a larger budget to connect directly with consumers using PLATFORM³," Datable CEO Rob Craig said in the release.
"Like many of our customers, this Customer sells most of its consumer products through grocery and convenience stores, which are expected to remain open during the COVID-19 crisis," added Craig.
Per the agreement, Datable will provide certain modules of PLATFORM³, its digital marketing suite, and a digital rewards offering. The latter will be a program in which consumers will be rewarded for purchasing a qualifying dollar amount of the ad client's baby formula products at a national retailer in Canada. The program will start sometime in 2020 and will be in effect for one year.
Datable signed 17 new agreements year to date, "which together with existing license agreements signed in prior periods represent contracted revenues of over $3.3 million of which approximately 70% expected to be recognized in 2020. This includes the largest the largest agreement in Datable's history under which a leading provider of household products has contracted for approximately $1,000,000 in license fees and rewards in 2020 with a projected increase to over $4 million in 2021," the firm reported.
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