Seeen Regulatory News (SEEN)

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) 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").