Fadel Partners Inc on Monday announced it has been awarded a two-year contract valued at $400,000 with an unnamed ‘global leader’ in the apparel industry.
The New York-based media rights and royalty management software developer said the agreement utilised Fadel’s Brand Vision solution to automate and manage the licensing, tracking and takedown of digital marketing assets across different web, retail and e-commerce platforms.
Fadel said the contract would add an additional $200,000 to the company’s annual recurring revenue, representing an approximate 10% increase in total Brand Vision annual recurring revenue.
The client reportedly owns ‘multiple well-known brands’ and will use the Brand Vision software to ease the challenges around tracking unauthorised or expired content usage across multiple channels. Fadel said the client expects to increase its efficiency in managing its marketing digital assets by 66%, which should lead to an estimated $1.3 million in cost savings over the next 24 months through improved governance and cost avoidance from potential copyright or licensing violations.
Chief Executive Officer Tarek Fadel said: ‘This contract reinforces the critical need for advanced content licensing and rights management solutions in today’s dynamic digital marketplace. We’re excited to work with this globally-recognised brand, helping them streamline their content tracking, licensing and compliance while driving down costs and minimising risks of unauthorised content use.’
Shares in Fadel were flat at 107.50 pence each in London on Monday afternoon.
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