VANCOUVER, B.C. (February 14, 2023) – Datable Technology Corporation (TSXV: DAC) (OTC Pink: TTMZF) (the “Company” or “Datable”), the developer of a proprietary, SaaS-based Consumer Lifecycle and Data Management Platform called PLATFORM3, is pleased to announce that it has renewed its annual license agreement (the “Agreement”) with a leading digital media and entertainment company (the “Customer”).
The Customer is the digital division of a leading global media and technology company, which owns and operates business units that provide cable, entertainment (major motion pictures, TV broadcasting, and theme parks) and streaming services. This Agreement renews the license, which was set to expire in June 2023, for an additional year to June 2024.
The one-year renewal includes a software-as-a-service (SaaS) license for approximately $145,000 plus transaction fees based on the number of programs and consumer engagements hosted by PLATFORM3. In 2022, Datable invoiced the Customer for approximately $500,000 in SaaS license and transaction fees with an estimated gross margin of over 80% and expects the invoiced amount and gross margin to increase in 2023.
“This Customer has been using PLATFORM3 since 2016 and has renewed this annual Agreement every year since 2018. They use our platform to connect directly with consumers and reward them with online movie tickets for purchasing the products of leading consumer brands, all while collecting valuable opt-in first-party consumer data to optimize future programs,” said Robert Craig, Datable’s CEO. “We have been very encouraged by the loyalty of our major customers who all renewed their annual and multi-year agreements in 2022 and have indicated that they will do so again in 2023. These long-term customers have helped us validate and improve our enterprise level solution and quantify the ROI we deliver. We expect a return to strong revenue growth that was interrupted by COVID, driven by increasing demand for our consumer data platform that helps leading brands build valuable and compliant consumer databases and monetize that data with tools that generate incremental sales and enhance loyalty.”
For further information, please contact:
Datable Technology Corp.
About Datable Technology Corporation
Datable has developed PLATFORM3 a proprietary Consumer Lifecycle and Data Management Platform that is sold to global consumer brands. PLATFORM3 is delivered as a subscription service (Software as a Service model) and used by some of the worlds’ most valuable consumer brands to access new consumer communities and engage them while collecting, analyzing, and managing their first-party data. PLATFORM3 incorporates proprietary technology to monetize the consumer data, including demographics and purchasing behaviour, by sending consumers targeted offers by email and text messages. For more information, visit datablecorp.com.
For additional information about the company please visit www.sedar.com. The TSX Venture Exchange Inc. has in no way passed upon the merits of the transaction and has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors – including the availability of funds and the results of financing efforts, – that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.