TIDMSEEN

RNS Number : 1844H

SEEEN PLC

26 July 2023

26 July 2023

SEEEN plc

("SEEEN", the "Group" or the "Company")

Significant Product Milestone: Launch of CreatorSuite 2.0

SEEEN plc (AIM: SEEN), the media and technology AI platform that creates and delivers Key Video Moments to drive increased views and revenues across video content , is pleased to announce, ahead of its Annual General Meeting to be held later today, that it has completed a major product milestone: commercial readiness of CreatorSuite 2.0.

After obtaining results-driven feedback from customers, CreatorSuite 2.0 now embodies new proprietary features focused on delivering customisable, AI-driven Shoppable Video Prompts "SVPs". Customers want SVPs in order to give them a significant competitive advantage in advertising and video ecommerce and added return on investment.

AI-driven, customizable SVPs are strategically placed within customer videos at "Key Video Moments" - moments that produce an emotional or impulse response - to drive consumers to acquire goods and services with one-click. "One-click buy" thus reduces sales friction increasing conversions.

The following benefits of SEEEN's SVPs have been demonstrated across beta trials with 12 current customers:

   i.              Doubling of Purchase Conversions: 
   --    Click through Rates of up to 25% 
   --    Cost Per Customer acquired dropping 67% in Pay Per Click Campaigns

ii. Opportunity to add a new revenue stream for publishers leveraging the same video library by combining advertising with SVPs to drive sales

iii. Integration of Key Video Moments with CRM systems for continuous customer engagement to automate the delivery of e-commerce opportunities

Technology Day

The Company is arranging for a Technology Day in early September to demonstrate our exciting product to both customers and shareholders. The Company will make a further announcement on timings in the near term.

Expanded Market Opportunities

Video E-Commerce Market : SEEEN's proprietary SVP offerings position the Group strongly to capture an increasing share of the Video E-commerce market, which is expected to grow by a CAGR of 32% to $2.8 trillion by 2028. (1)

Video Advertising Market : CreatorSuite 2.0's new features are particularly important for the Strategic Customers that SEEEN is targeting in the publishing space. Leveraging SVPs, SEEEN can gain access to the digital video advertising market, which is estimated to be worth approximately $50 billion in the US.(2)

Adrian Hargrave, CEO, commented: "We continue to deliver results. Since our December 2022 fundraising, we have gained 15 customers and have now completed a robust proprietary product release that drives value from SVPs across advertising, Search Engine Optimisation enhancements and Video E-Commerce opportunities. The value of our proprietary features as part of one platform - CreatorSuite 2.0 - is to drive increased yield for customers trying to monetise existing video collections.

In an economic environment where both advertising markets are softer and consumers are spending less, we provide for our existing customers and those opportunities in our sales pipeline - publishers, retailers, service providers and sports clubs - the compelling ability to stimulate consumer demand and monetise all levels of engagement from video viewers. With the release of CreatorSuite 2.0, our budget and execution priority is now focused on our sales team and customer success."

Sources

1 - Reportlinker's "Global Online Video Industry" report

2 - Interactive Advertising Bureau's "2022 Video Ad Spend & 2023 Outlook: Defining the Next Generation" report

 
 SEEEN, seeen.com                                  Tel: +44 (0)7775 
                                                    701 838 
 Adrian Hargrave, CEO 
 
 Dowgate Capital (Joint Broker)                    Tel: +44 (0)20 3903 
                                                    7721 
 Stephen Norcross 
 
 Allenby Capital Limited                           Tel: +44 (0)20 3328 
  (Nominated Adviser and Joint Broker )             5656 
 Alex Brearley / George Payne (Corporate 
  Finance) 
  Tony Quirke / Amrit Nahal (Sales and Corporate 
  Broking)

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END

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July 26, 2023 02:00 ET (06:00 GMT)

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